Newbie looking for advice because it has spiralled

Cellb8

Hi guys, I wonder if anyone can give me some advice on a particularly stressful matter.

A change in job impacted my earnings for a period in addition to the cost of moving house during this time, which resulted in me falling behind with my credit card.

During this time BT had applied a default to my account, which has since been resolved and they admitted it was their mistake putting it on the first place. - I had BT internet, and despite living very rurally was promised high speeds, which subsequently wouldn't even connect so allowed me to cancel, but still sent bills etc. anyway ignore that, it's resolved.

So in the time that I had the default on my account, I'd applied for a loan and an overdraft with my bank. Both of which were declined due to my credit rating. Checking equifax I found the default from BT and started the process of removing it.

As a result of not being granted additional funding to help clear my missed payments of some £300 odd, I missed the following payment. My credit card account was closed and I'm now forced to be on a repayment plan. My dad paid a big lump to help me out, and I still need to pay a set amount each month or risk my credit file being further tarnished.

Basically my question is: can I do anything about BT wrongly putting the default on there which fuelled the downward spiral? Or are companies able to make such mistakes without repercussion? Can I get compensation or anything as a result?

I had complained to BT previously when I got the default, and was brushed off with a comment stating 'BT do not give credit reports' ... Right.. That wasn't exactly in context with my complaint though was it.

Tixy

Unfortunately it is always near impossible to prove that the reason you have been declined for a credit product relates solely to an error by one particular reporting entry.

Companies will quite often pay out a small sum as a goodwill gesture if there has been an error in reporting to the credit reference agencies (perhaps £50 or so) but if they resolved the issue once you complained about it and asked them to investigate then I wouldn't expect them to agree to pay out any more than those sort of figures.

Sazzie23

Hi CellB8


Thanks for sharing, sorry I cant really add to Tixy's reply. You might find it comforting to know that even on my DMP, some of my CC show as 'up to date' on the Noddle report. Perhaps that will happen to you too.


Your story seems typically a good example of how if someone gets close to that overstretched point (for whatever reason), then circumstances compound to drop you right in it. In your case BT, for others its the closing off of access to 0% switches or lowering an overdraft limit etc And its so difficult to recover from that point.


Its a reminder for me that when I finally reach my DFD I still need to acquire that 6 month savings cushion.