Cabot Compensation

quietness

Cabot financial put defaults on my credit file for a debt that wasn't mine, After 6 months of trying to get this sorted they have now admitted that it wasn't my debt and have now removed the defaults. They are offering me £50 compensation. I don't think that is a reasonable offer considering all the time and effort I had to put in to clear my name. What sort of figure do you think I should be asking for?

happy_bunny_2

Tricky one.

How much time have you spent on it? How much postage etc?

If you don't like their offer, you can go to FOS. You might get a bit more, but you might not.

Is it the only negative on your credit file?

quietness

Thanks for the reply, Yes this was the only default on an otherwise exemplary credit file. There were quite a few recorded delivery letters but it was mainly the stress of trying to clear my name when they had clearly failed to carry out the proper checks as to whom the debt really belonged to.

erskineman

Lloyds gave me £750 for an incorrect default. It was a long time ago though - late 1990's.
I'd asked them for £1k compensation, they offered £750 which I accepted.

happy_bunny_2

If you don't mind waiting a few months, ping it to the FOS if £50 is their final offer. Nothing to lose really.

fermi

Depends how far you are willing to go?

A notable example --> http://news.bbc.co.uk/1/hi/programmes/moneybox/8098674.stm