Credit Rating Amendments

Kenny_B

Does anyone know how long it takes for amendments on your credit file to be made?

I have had an agreement with my bank (Ulster Bank), that 5 missed payments on one account, and 3 missed payments on another that are affecting my credit rating are actually an error on their part due to technical issues they suffered last summer/autumn.

After a long and arduous process they agreed to amend my file, also offering me compensation for the whole debacle. I was contacted by a staff member who agreed a fee with me, returning all charges for missed payments as well a compensation for visits to bank, letters sent, phone calls etc.

We are now nearly two months on and my credit rating is still in tatters because of this, no changes have been made at all. I am able to see the payments I have made recently on the score, but no removal of the missed payments which are causing so much damage.

Im pretty concerned as we are looking at houses and I know I will get laughed out the door if I try and apply for a mortgage with my credit rating the way it is.

The_Boss

Yeah, don't apply til they are removed. Did they ever send anything in writing confirming they would be removed?

On your credit file, the accounts should say 'account updated to <date>' - what is the date for the affected accounts?

Which credit reference agency are you using? You should check both Experian and Equifax. It is possible that one could be updated and not the other, or both not updated which suggests Ulster Bank need to apply the changes.

Please also ignore the credit score.

Kenny_B

I received notification of the agreement we made ie, the charges were wrong and the payments were not actually missed. Im not sure if it says exactly that they will remove the missed payments, but it seems the next natural step. I had a verbal agreement anyway.

One of the accounts (3 missed payments) hasnt been updated since december as the account was closed then.

The other account with 5 missed has been updated a recently as beginning of march I believe, reflecting a payment I made against the account in february. but nothing against the missed payments has changed.

I am using experian, tried signing up to equifax for the 30 day trial but need to ring to complete the process. Might do that tonight if I get the chance.

The problem I am having is the department that dealt with my complaint and query was set up specifically to deal with the technical incident, because of that hardly anyone within the organisation is aware of this department, the number they provided just rings off, so getting back in touch with the exact person dealing with me is near imposssible. Every time I ring they want me to make another complaint which I am reluctant to do given the fact it took so long to sort this one, and that I have an agreement with my current one.

The_Boss

Write to them, enclosing a copy of the letter, saying you expect the late payments to be removed and for accurate account data to be reported to the credit reference agencies within 28 days as their current data slanders you.

Keep a copy of this too so you can send to Experian/Equifax/Financial regulation body also.

Kenny_B

Cheers mate. Extremely helpful.

Will do that asap.

The_Boss

Kenny_B wrote: »

Cheers mate. Extremely helpful.

Will do that asap.

Forgot to add..enclose a copy/screen grab of their inaccurate data on credit report too.

Hope you get this all sorted soon enough.

happy_bunny_2

I would also phone the Financial Ombudsman service, as they have failed to settle your complaint within the allowed 8 week time frame. it is obviously a complaint, even if it didn't use that word.

If you call them, they will be able to advise you on what to do.

The_Boss

happy_bunny wrote: »

I would also phone the Financial Ombudsman service, as they have failed to settle your complaint within the allowed 8 week time frame. it is obviously a complaint, even if it didn't use that word.

If you call them, they will be able to advise you on what to do.

This might need to be treated slightly differently as there is no explicit wording stating that the credit file would be updated. That goes without saying realy, but the ombudsman may still want the OP to attempt to resolve it first.

As you say, calling means they can advise what to do.

Kenny_B

Letter sent to the bank a week ago, still no contact from them.

My credit report is still not amended and it has now been a month since I asked Experian to look into on their side and they are still to get back to me.

They dont make these things easy at all, do they?..!

matttye

I agreed some changes on my reports with a previous bank a week ago and my Experian and Equifax reports have been updated already.

After my reports were updated, I thought there should be further amendments and contacted my previous bank again. My Experian report was updated within two hours of speaking to them, but my Equifax report is yet to be updated.

My Noddle report should be updated in about six days (once a month).

Have you logged a complaint with your bank? It was a complaints handler that dealt with my query and she was really good at getting it sorted quickly.

OneLife_OneShot

Hi Kenny,

I am with Ulster Bank also, I got on to them about incorrect data during the well documented crisis last year it said my CC was overlimit which it was because of their systems being down.

They agreed to put my CC balance as 0 for June,July & August. It took 4 days from when I sent my letter in and my Noddle and Experian have been updated already.

Are you sure you are sending it to RBS and not Ulster Bank as if its to do with credit files the parent company deal with them mainly.

I would recommend sending your letters to

ULSTER BANK: ROYAL BANK OF SCOTLAND, 100, WEST GEORGE STREET, GLASGOW, G2 1PP

The local banks don't have a lot of say in certain things.