Getting more compensation after Barclays refusal to update credit file

CopyTaster

In April 2016 I settled an outstanding default with Barclays. They cashed the cheque within days. They did not however update my credit report with credit associates including equifax etc. It impacted my ability to get on the property ladder and for months I was told my case was a priority. It took the involvement of the ombudsman to get them to upgrade my details to show there is no default. I have been offered £250. I think this is derisory. Should I send this?:
Thank you very much for your communication sent to the ombudsman.

Also thank you for the offer of £250 compensation, however under the circumstances the offer needs to be substantially revised upwards for the following reasons.

1) You received a full and final settlement payment from my legal team at xxx on April xxxx You cashed this in the same month, but you did not edit and update my CAIS (Credit Account Information Sharing )information which could have been done using your own online systems within 24 hours.

2) In the following months I called you several times including being held for lengthy periods of time in a queue system and once cut off to be told to dial back again and start the hold process again.

3) On speaking to your staff I was told my case was a ‘high priority’. This was untruthful as you were unable to provide me with the evidence about what steps you were taking to resolve the situation.

4) The fact that you were able to execute the updating of my credit record within a week of the ombudsman contacting you demonstrates that the procedure is elementary and I have been informed that it takes a maximum of 12 minutes. Please advise me how long this took.

5) The outcomes of your tardiness and inertia has resulted in a significant delay in getting on the home ownership ladder and locking me into another year of renting at £1350 per month at a time house prices are rising as much as £3000 per month.

Here are the links to the latest ONS and RICS house price surveys which reveal the growth of house prices in the South East. They cover the period your lack of action excluded me from applying for a mortgage for a home for myself and my two sons.

Link to ONS

Link to RICS

At a time I was in a position to get a mortgage in October 2016, I could have secured a mortgage on a 3-bedroomed property in my desired location for £297.50 a month interest only with capital repayments based on any overtime and bonus payments.

The difference a month therefore is £1052.50.

6) I cannot stress enough how much the repetition of your stock phrase to me “We are viewing your case as a priority” has impacted my mental wellbeing and my family’s welfare in terms of securing a property. Your response was obviously a convenient and default response from yourself and one calculated to prevent me approaching the ombudsman and the financial media earlier, but was disastrous for myself.

So due to you being economical with the truth, my being locked into another rental contract at high cost and the lost opportunity of suitable, affordable accommodation you should revise your offer to £6315.

mrmagooooooo

You say that you settled a debt with Barclays? Could you elaborate on this and why it shouldn't have been a reported to your credit files as a default? or are you saying that the default on your files wasn't shown as settled once you had paid?

mrmagooooooo

And id be amazed if you got £6315 off them for not removing a default regardless of the reason. That said if you dont ask you dont get! :-)

Arleen

Good grief.

So you've settled with them an account that went into default, I guess because you didn't keep up with your payments. The onus of your complaint would be that if this default was marked as "settled" or removed, rather than outstanding, then you would have got a mortgage as this was the only deciding factor. Do you have any proof of that? Like a mortgage offer, in writing, which stipulates that it will go live if you can settle this outstanding debt? If not - that complaint is a non-starter.

If you do, you may claim SOMETHING. How much? 250 quid sounds about right. Maybe I would squeeze their heads for extra 50 and go out for pints. But I doubt that you have fulfilled this requirement, as interest-only mortgages almost do not happen anymore. But you are not entitled to house price rises, your rent or inflation on the average price of gold. You are of course welcome to go and sue them for those, as they will not hand it out, but that will be throwing money down the drain, and lots of it. If you decide to go this way, you will need a solicitor to fill this claim for you, as it's much more complex than it seems.

What was the nature of the default anyway? You say that you have settled it, which sounds like money was owed, but on the other hand you say that it was removed - suggesting otherwise.

Update: What is the basis of them offering you the 250? Is this just goodwill on their part? If so then keep in mind that after you send a letter like that the goodwill may end.

[Deleted User]

CopyTaster wrote: »

1) You received a full and final settlement payment from my legal team at xxx on April xxxx

Leave it to your legal team to pursue with them - isn't that legal teams are there for?

CopyTaster

Thank you. An additional £50 for pints sound pretty good. And what was very valuable was your comment that a goodwill gesture can be withdrawn rather than improved upon..

CopyTaster

default on files wasn't being shown as settled. Apologies for not being specific

Arleen

CopyTaster wrote: »

default on files wasn't being shown as settled. Apologies for not being specific

Right, so there is even less leverage on your end as removal of wrong default would be much better to try to get more money from. So just take the 250 and be happy with it, as their only duty is to put you in the position you were in before the bad thing happened, anything else is a bonanza. 250 may not seem like a lot of bonanza, but it's better than nothing.

yoshiyella

Arleen wrote: »

Right, so there is even less leverage on your end as removal of wrong default would be much better to try to get more money from. So just take the 250 and be happy with it, as their only duty is to put you in the position you were in before the bad thing happened, anything else is a bonanza. 250 may not seem like a lot of bonanza, but it's better than nothing.

I'm surprised he got that much, at most £50.

chanz4

This is funny, have to agree take the £250. If you had paid the debt before it went to default you wouldn't of had one.

System

You defaulted on your payments. That was correct to put on. Even though it wasn't marked as settled you have defaults on your file for non payment so the end result with the mortgage would most likely be the same. If you couldn't afford to make even the minimum repayment on a credit card why would a mortgage company lend you 50 to 100 times the amount your credit card has as a limit? You're a bad risk.