O2 has ruined my Credit rating

beckyminime

To cut a long story short .... I signed up to equifax as I'd been turned down for a loan as I wanted to see why (all payments are made on time via direct debit)
I find out that O2 hadn't closed my old telephone and broadband account from 2011 although I had paid the account off in full their system had out me in default.

I contacted O2 that admitted liability and did contact Equifax to update my credit ... They said there wasn't an explanation for it and as a goodwill gesture cancelled my O2 mobile phone account.

The issue I have is.....
Yes they admitted liability and yes they took the default off but I'm still unable to get loans, finance ect as my credit rating is still not high and I'm still in the red coz it takes a while to come off my account........ Is there anything I can do .... am I to take them to a small claims court?

It may not be about the money and I understand a lot of people will say this but I have always only worked hard and paid everything off ..... so now being unable to get any sort of finance and its a huge problem when my partner and I are trying to get a mortgage together (I already have one but we would like to get a bigger property one day ... and this has created a huge dent)

beckyminime

Sorry writing on my iPad so have the words have been mucked up

Silk

beckyminime wrote: »

To cut a long story short .... I signed up to equifax as I'd been turned down for a loan as I wanted to see why (all payments are made on time via direct debit)
I find out that O2 hadn't closed my old phone account from 2011 although I had paid the account off in full their system had out me in default.
....... Is there anything I can do .... I am small claims court but would I be able to do anything?

I don't follow you here ???

A couple of months ago you posted you wanted to reduce your O2 payments due to being redundant ...but now you say it's an old account from 2011 ???

What do you mean by "I am a small claims court" ?

beckyminime

Ok than Silk .... Il tell you the long story!

to begin with I explained some of my wording may be mucked up as I was on the ipad but im now writing on a computer.

I had a mobile phone account with them since 2006... I also Telephone and Broadband with them from 2008 to 2011 which is where the problem has accorded.

I was redundant I am now NOT.

I went to the bank to get a loan as we are renewing areas of the house... I was rejected ... though I was made redundant I still kept up with payments as I had savings.... I now work full time.

I was reject a loan ... when I asked why they told me to contact a credit company ... I choose Equifax.

They looked into my account and said I had a default with O2 which I was unaware about.

When I contacted O2 I was dealt with very well and was told that they where unsure why this had happened and it was probably a
system error.... but very apologetic

Now I asked to have my contract with O2 ended due to the mess up as I didn't want to stay with O2 due to this and other problem relating to service and network issues.... they where happy to do so as they said it was a rare issue ... they changed the default on the telephone and broadband account with Equifax to settled.

Now my question is how long until my credit rating goes back to normal as the account is shown as settled but my account is still in red and am I able to get compensation for this due to not being able to get a loan or ANY finance which at some points are needed.

O2 had a duty too make sure my Telephone and Broadband account didn't go into default but it did without any doing of my own!

grumbler

beckyminime wrote: »

....it takes a while to come off my account.......

If they updated records I think it takes no more time.

Silk

beckyminime wrote: »

Now I asked to have my contract with O2 ended due to the mess up as I didn't want to stay with O2 due to this and other problem relating to service and network issues.... they where happy to do so as they said it was a rare issue ... they changed the default on the telephone and broadband account with Equifax to settled.

Now my question is how long until my credit rating goes back to normal as the account is shown as settled but my account is still in red and am I able to get compensation for this due to not being able to get a loan or ANY finance which at some points are needed.

O2 had a duty too make sure my Telephone and Broadband account didn't go into default but it did without any doing of my own!

You would be better asking the questions on the Credit / Debt boards

If it still shows up in the form of late payments it's going to be 6 years before it changes.

beckyminime

It's updated from default to settled but equifax said it may take a bit longer to change the score ... Just wasn't sure how long

beckyminime

Oh sorry I've still not got use to starting Threads .... Il post it there .. Sorry :S

DevCoder

The update will take at most 30 days, if its after this period the fact you cannot get credit is not down to this.

You would have to prove that the incorrect entry caused you to not get credit and you cannot. All lenders have internal credit scoring which is kept secret.

beckyminime

O2 is the only account on my credit record that was defaulted so it makes it obvious it was them ...every other account has been paid in full and on time ... Never missed a payment ... It's only been 3 weeks so hoping it gets sorted out

DevCoder

No, your credit file is only a part of lending criteria, so it might not be your credit file that is the issue.