Incorrect info posted to credit reference

NandS

Hi. I have found out last week incorrect info has been posted for the last 4 months to credit reference agencies about a finance agreement that was settled last year. The finance company had not informed me at any point there was an outstanding balance (no letters) up until receiving a letter last week asking me to settle in full. On speaking to them they advise it was there error on their part and have amended the incorrect info. Their attitude has been appalling with a couldn't careless attitude. I am concerned about the damage to my credit file they have caused. do I have any recourse on the finance company?

boo_star

NandS wrote: »

Hi. I have found out last week incorrect info has been posted for the last 4 months to credit reference agencies about a finance agreement that was settled last year. The finance company had not informed me at any point there was an outstanding balance (no letters) up until receiving a letter last week asking me to settle in full. On speaking to them they advise it was there error on their part and have amended the incorrect info. Their attitude has been appalling with a couldn't careless attitude. I am concerned about the damage to my credit file they have caused. do I have any recourse on the finance company?

Unless you have applied for any credit and been turned down/offered a worse rate than you would have been without it being reported or your current credit providers (basically credit card companies) upped your rate as a result of it then no.

Even if that has happened you're unlikely to be able to get confirmation of this from any of the providers so you wouldn't be able to provide a number for the actual loss.

I'd go for a compensation amount of £100 (I'm aware that's high) and see where they negotiate after that. As long as they update your credit files correctly you're only really entitled to the cost of phone calls + the cost of checking your credit files.

NandS

Thank you for your advise I will see what they say.
The finance company is large and well known, it's so disappointing they can be so laxed. The customer service is typical call centre uniterested, no explanation either as to why they got it wrong!

happy_bunny_2

Complain in writing. Stating that you expect compensation for the stress and your time. If the only blemish on your file, mention that.

If they refuse offer you a low amount, refer to FOS.

May get £25-£50. Maybe a bit more. Also the feeling of knowing you have contributed to their complaint stats that get monitored.