Paypal - Incorrect Credit Reference Agency Reporting

morwellham

I currently have a Paypal credit account, with which i maintain and pay at least the minimum payment on time. My account has always been maintained correctly.

I recently applied for a loan from my bank and was refused, which i found odd as my credit rating is good and the bank has loaned me money on a regular basis over the years. I looked at my Callcredit file and i have discovered that Paypal have marked my account as "default" on every month since August 2017! My Callcredit file last month showed that the paypal entry was up to date and good until the end of September 2018. They then changed this two weeks ago to show a Default! My experian credit score went from Good to very poor due to this Default.

I have contacted paypal and they have opened up a case. However they have told me i should expect to wait at least 4 weeks to get a response from Paypal! The customer services agent confirmed for me that my account has always been in good order.

I think this is really poor on Paypal's behalf! I explained to them that as this is clearly their mistake, and they should be prioritising this matter, but i am unable to get past the first line customer service agents and speak to anyone with any influence.

Has anybody else had similar or have any advice?

Many thanks in advance!

[Deleted User]

Check all three of your files and raise a dispute with each where it appears.

morwellham

Thanks for the reply. I should of mentioned, I have disputed with all three (experian, equifax and callcredit) But i get the standard 30 day expected response time (which is fair enough) But i was hoping that Paypal might actually prioritise this. I guess it's just a waiting game.

[Deleted User]

You just need to wait.

8 weeks is the max wait time for a complaint/request to be processed to satisfactory level

T-G-C

morwellham wrote: »

I currently have a Paypal credit account, with which i maintain and pay at least the minimum payment on time. My account has always been maintained correctly.

I recently applied for a loan from my bank and was refused, which i found odd as my credit rating is good and the bank has loaned me money on a regular basis over the years. I looked at my Callcredit file and i have discovered that Paypal have marked my account as "default" on every month since August 2017! My Callcredit file last month showed that the paypal entry was up to date and good until the end of September 2018. They then changed this two weeks ago to show a Default! My experian credit score went from Good to very poor due to this Default.

I have contacted paypal and they have opened up a case. However they have told me i should expect to wait at least 4 weeks to get a response from Paypal! The customer services agent confirmed for me that my account has always been in good order.

I think this is really poor on Paypal's behalf! I explained to them that as this is clearly their mistake, and they should be prioritising this matter, but i am unable to get past the first line customer service agents and speak to anyone with any influence.

Has anybody else had similar or have any advice?

Many thanks in advance!

In response to the bit highlighted in bold: there is no higher influence on the telephone service for PayPal.

All the teams that work on accounts and records like the Account Specialist team who handle limitations and dispute cases, the credit team who will be reviewing your case, the fraud team who handle account misuse etc. will be offline-based and they only respond to cases when required to, they cannot be reached directly on-demand.

The telephone support team will not be able to rush this along and any correspondence with a team who has "influence" will be offline and therefore not an instant response from them or transferable on the phone.

You need to wait for a response from them, there is nothing we can advise that will speed-up this process. If you are not in urgent need to take out credit at the moment, then sit back and relax until they respond to your case with an outcome. As long as those default(s) were not accurate whatsoever, they will certainly be removed once identified, there is no doubt of that.

[Deleted User]

PayPal's office of executive escalations: ppelce@paypal.co.uk

If you urgently need credit or a credit search for whatever reason (new tenacy, job etc), I'd stress this to them.

Escalations will have it dealt with within a week IMO, especially if they're clearly at fault.

When my 8 week old complaint got escalated to FOS, they contacted me the day after FOS did!