We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Compensation for default wrongly registered on credit file?

I posted a few weeks ago asking for some advice because I'd received a letter from London Scottish chasing a defaulted sum of over £17k, for a loan secured on a property that was sold in August 2007. The letter came as a shock because I thought the loan was repaid when the house was sold, and had never received correspondence from them saying otherwise. I got a copy of my credit file and sure enough there was a defaulted for £17k listed exactly a week after the property was sold. So I wrote to the solicitors who dealt with the sale, thinking that they had made a mistake and the loan had been left unpaid.

The solicitors have replied today with copies of all the documents, proving that the loan WAS repaid in full! :dance:

There is even a letter from London Scottish confirming it, dated weeks AFTER they registered the default! And the balance was only £3k, so I've got no idea where the £17k figure came from. I'm really quite angry - unbeknown to me, this default has been sitting on my credit file for three years (for an amount almost six times the actual loan!) and it should never have been there in the first place. Not to mention the worry it's caused me over the last few weeks of course...!

I'm about to write to LS enclosing copies of all the documents and the solicitor's letter, asking them to amend their records and immediately contact the credit reference agencies to remove the adverse information. Is it worth adding a cheeky line requesting some 'compensation' to reflect the damaging effect it's had on my credit rating over the last few years, worry caused, hassle having to get copies of sales docs etc??
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.1K Banking & Borrowing
  • 254.3K Reduce Debt & Boost Income
  • 455.3K Spending & Discounts
  • 247.1K Work, Benefits & Business
  • 603.7K Mortgages, Homes & Bills
  • 178.3K Life & Family
  • 261.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.