Bank has messed up my credit rating - any compensation due?

camnad

Hello All

Hope you are all doing well and wondering if you are able to help me. I recently asked my bank to extend my overdraft by a couple of hundred pounds for a couple of weeks which they kindly did. Unfortunately, in addition to taking away the temporary overdraft after a couple of weeks, they removed my whole overdraft facility without telling me, which meant that a number of direct debits / standing orders didn't go through, includng one to a 0% credit card deal. This means that I have now lost the 0% deal, and I am thinking that this has also affected my credit rating. Obviously this is a major pain. The bank says that they are investigating - am I due anything in the way of compensation? (The nice lady at the branch said that she thought that they would give me anything I asked for, but somehow I don't think it's going to be that straightforward). Any thoughts on this gratefully received.

Best

Camnad

[Deleted User]

If they accept responsibility, then ask for something that covers your provable losses.

stuart30

Can only speak from experience...im in the process of correcting several incorrect files where banks or Creditors have failed to do what they should have done.


In each case im spent time and effort in sorting things out and have not asked but stated compensation is expected to the value of £xxx.


Also the amount will depend on how much I feel there mistake has cost me due to taking products out with higher % rates.


So far compensation has been between £60 upto £500 from a Bank who after 5 yrs actually admitted they had acted in such a way they couldn't defend there own actions (lovely lady was very very open and honest).


If your putting hours in on phone calls and emails/letters ect...charge them for your time.