Claiming compensation for a false DEFAULT

Rufio90210

Hi ,

In 2005 I took out a Career Development Loan with Barclays which I paid back in 2009.

I checked my Credit Report for the first time a few months ago having been refused loans and noticed that in 2010 this had been registered as a default and I have had an awful credit rating the last 3 years because of it.

Having contacted Barclays they have just admitted their mistake to me in writing so now I can go abouts getting them to clear it or somehow give me a letter to prove to lenders that this default is void.

But what I really want to know is can I claim compensation and how to do it smartly to get as much as I can? Has anyone had similar encounters and been successful? How much could I get?

Any help will be appreciated,

Thanks

Luke

bengalknights

You would be lucky to get any compensation usually all they do is just remove the markers on your credit files.

stephane_2

Compensation....what for? If you're lucky you might get £25...that's about it!

lippy1923

Why do you need compensation? What have you lost financially that you can prove? Maybe as above poster has said £25 as good will gesture.

McKneff

The OP has been refused loans because of this default and becuase he was unaware of it.

OP the bank must get the default removed, without a doubt.

Ask them for compensation, what ever they offer, tell them you want double.

My daughter was in the same sort of position. She was refused a mortgage and lost a property because the default was not taken off in time.

She was offered £100 and took it.

Good luck and let us know how you get on.

lippy1923

I understand the situation, but how can you prove that the loans were refused due to this 1 default? It could be for completely different reasons, maybe affordability, too much other available credit or simply the OP just didn't fit the lenders criteria.

Of course I know the default showing didn't help and by all means ask for a gesture of good will, but don't get your hopes up.

poppasmurf_bewdley

If in the unlikely event of you being offered more than about £25 in compensation, it could well be reduced substantially as you failed to check your credit record for three years - so it can't have been that important to you, could it!

I wouldn't go looking at the holiday brochures just yet.

rizla_king

Probably the only way to extract a large sum is to threaten to sue. The bloke here did. http://news.bbc.co.uk/1/hi/programmes/moneybox/8098674.stm

Different circumstances as it wasn't his debt, but the principle that a false default may be 'defamation' is the same.

DCFC79

lippy1923 wrote: »

Why do you need compensation? What have you lost financially that you can prove? Maybe as above poster has said £25 as good will gesture.

he OP needs to restore his pride.

Hes lost years of being in the knowledge of haivng a good credit history.

Seriously though, why did you not check your credit report earlier ?

DCFC79

Rufio90210 wrote: »

Hi ,

In 2005 I took out a Career Development Loan with Barclays which I paid back in 2009.

I checked my Credit Report for the first time a few months ago having been refused loans and noticed that in 2010 this had been registered as a default and I have had an awful credit rating the last 3 years because of it.

Having contacted Barclays they have just admitted their mistake to me in writing so now I can go abouts getting them to clear it or somehow give me a letter to prove to lenders that this default is void.

But what I really want to know is can I claim compensation and how to do it smartly to get as much as I can? Has anyone had similar encounters and been successful? How much could I get?

Any help will be appreciated,

Thanks

Luke

Quoted for future ref

argomatt

I still don't understand why everyone's first reaction to any event is to think of how much compensation they are "entitled" to..?!

:beer: