Incorrect default from paydayloan company

RJS1992

Hello,

I was wondering if anyone could give me some advice. I recently purchased my credit report from Experian (January) only to find I had a default on my account. Don't get me wrong, I've had financial problems in the past, but always got out of it.

I contacted the payday loan company that put the default on my account and after a month and a half of phone calls and emails back and forth, they admitted that a mistake, but here is my problem.

The default was on my account from August 2013 to March 2014, so surely, I would have paid more interest on other borrowings, been rejected for further credit, and had the stigma that comes with a bad credit score. I also had a credit card closed 5 days after the default was put on to my account (not sure if this was just coincidental or not).

Do you think I have a leg to stand on if i seek compensation? If so, what's the best way to go about it?

Thank you!

Jack

[Deleted User]

If you were taking payday loans, I don't think a default would make much difference.

In any case, you would need to prove that you were forced into higher rate borrowing, which would be very difficult to do.

RJS1992

Thank you, however my score jumped up by over 100 when the default was cleared.

Do you think going through the financial ombudsmen would work? Obviously it's their mistake and they have a duty of care to make sure the information they pass to the credit bureaus is correct

[Deleted User]

You could try - but I think it's unlikely, as they have corrected the mistake. The FOS is more interested in cases where the company refuses to treat customers fairly.

I'd write to the PDL company expressing your dissatisfaction with events and hope for a £25 goodwill payment or something.

Don't worry about your score moving around. It's more reflective of the price of butter than it is of your credit worthiness.