British Gas& Elec Wrecked My Credit

DonDoughnuts

I recently checked my credit rating on Experian out of sheer curiosity and was amazed to find that it was 571 extremely poor. Looking closer I discovered that British Gas & Electricity had recorded £700 of debts and missed payments against my name in Oct 2014. Quite a surprise as I dont have an account for either! Ive made a complaint and its in the works but as it is a completely erroneous action by BG which has wrecked my credit rating, has anybody had any experience of whether the credit rating will be immediately be restored to its former rating once BG notify Experian and is there any form of compensation I should be asking for? Thanks in advance.

Bluebirdman_of_Alcathays

If the information is genuinely inaccurate (and it sounds like it is), then BG have a duty to inform the 3 credit reference agencies. Your credit history will be unaffected by this.


As for compensation, what have you actually lost?

footyguy

http://forums.moneysavingexpert.com/forumdisplay.php?f=257

e.g. this link from the sticky there
http://www.moneysavingexpert.com/loans/credit-rating-credit-score#files
(point 23 may be of particular interest)

DonDoughnuts

Thanks Guys for the quick response, and the content. Ive asked for a Notice of Correction but this will take 30 days, and in the meanwhile we will see the response from BG and se if we need the FO. As for the question about compensation, any reward is not about the money, its about the principal. My excellent 30 year credit history has been wrecked through no fault of my own, and sometimes the only way big organisations learn to change their methods and procedures is through their pocket, hence fines often seen from the regulatory body's (for themselves) are usually massive. IF there is any financial return it will be given to a charity, but this is NOT the objective - thanks all.

footyguy

DonDoughnuts wrote: »

Thanks Guys for the quick response, and the content. Ive asked for a Notice of Correction but this will take 30 days, and in the meanwhile we will see the response from BG and se if we need the FO. As for the question about compensation, any reward is not about the money, its about the principal. My excellent 30 year credit history has been wrecked through no fault of my own, and sometimes the only way big organisations learn to change their methods and procedures is through their pocket, hence fines often seen from the regulatory body's (for themselves) are usually massive. IF there is any financial return it will be given to a charity, but this is NOT the objective - thanks all.

Credit reference agencies only report the last 6 years, not the last 30 years.

If an error has occurred, this will be corrected and your credit history will be unaffected