Correct compensation?

VRJ

Due to error on their part Marbles recorded me as having missed payments on my credit report when in actual fact I was in a payment holiday. It took me a lot of ineffective (complaint was never actioned etc) calls and finally an email to ceo to get any action. They are removing them but offered £60 compensation - does this sound right? They have said they will look at ti again if it affects my ability to open a feeder account to get a bounce back loan, which was my main concern.

[Deleted User]

It's a generous offer.

Sandtree

What has the financial impact on you been? Have you been declined for other credit as a result/had a higher interest rate applied? Have you been turned down a job that requires a clean credit history?

Assuming the answer to all of the above is no then you are looking simply at a value for inconvenience in which case £60 is ok, some would have offered less and others would have offered more. How much is your time worth to try and argue is up to £75 given there is no actual loss?

Unfortunately the FOS are not particularly helpful on this front as their first category is "moderate inconvenience" that they should be between £0 and £500. Personally did much better out of NatWest a long time ago but it was a default they loaded in error (so a more serious issue), I work in FS and so it could have work consequences and they did it 3 times due to a "system error" causing it to be reapplied after being manually fixed.

VRJ

Ah, that's ok then, though it was multiple times/arrears letters etc I suppose there is no actual loss to me at this point - I suppose if I don't get the feeder account due to the incorrect record then I will get back to them and go from there.

born_again

Why would a personal CC affect the need to open a business feeder account for a bounce back loan? Surely you would just use your normal business account.

cymruchris

Sounds a fair enough offer to me based on the circumstances.

VRJ

born_again said:

Why would a personal CC affect the need to open a business feeder account for a bounce back loan? Surely you would just use your normal business account.

I'm a small sole trader so just used a seperate current account and my bank does not offer bounce back loans. Very few companies offered them to those who did not bank with them already.