Need to correct poor credit rating

Katykat

Katykat said:

very helpful ceremony.Yes, he did take a 3 month mortgage holiday when he was furloughed. I think that must be the problem. He has restarted it now, but it seems unfair that it has affected his credit rated. 

Actually, he has just told me that the mortgage broker told him that it wasn’t the mortgage holiday, it was definitely Very. But he will do the credit checks. 

jimbo26

I'm not sure how the mortgage broker can be so definitive. Has your son checked his credit file? Is the Very account showing? Does it show a missed payment?

Katykat

jimbo26 said:

I'm not sure how the mortgage broker can be so definitive. Has your son checked his credit file? Is the Very account showing? Does it show a missed payment?

I’ll pass this on. 

penners324

complain to Very about this error

Katykat

penners324 said:

complain to Very about this error

He has done. All he got back was a generic email stating their T&Cs. He complained again to a Services manager 3 days ago, still awaiting reply. 

Katykat

Update. Very replied to say that they are upholding their decision. Now, I’ve researched this a little and also spoken to an accountant friend who is the finance manager of a large company and the conclusion is that this should not have been classed as a default but a late payment. Also, that late payments  should not be referred Until there have been 3 late payments, defaults referred after 30 days. This was 1 day late and only for a nominal £20. The options now is to put a Notice of Correction on the bad score ( but has to be done individually on all 3 credit sites) and also to start a dispute resolution with the Ombudsman. 

My questions now, is which Ombudsman to contact, and is there a template for us to fill in & send to Very? My son has had a quote from a dispute resolution solicitor to send a letter for £300. I’m sure we could do it ourselves with a template guide. 

D3xt3r5L4b

Katykat said:

Update. Very replied to say that they are upholding their decision. Now, I’ve researched this a little and also spoken to an accountant friend who is the finance manager of a large company and the conclusion is that this should not have been classed as a default but a late payment. Also, that late payments  should not be referred Until there have been 3 late payments, defaults referred after 30 days. This was 1 day late and only for a nominal £20. The options now is to put a Notice of Correction on the bad score ( but has to be done individually on all 3 credit sites) and also to start a dispute resolution with the Ombudsman. 

My questions now, is which Ombudsman to contact, and is there a template for us to fill in & send to Very? My son has had a quote from a dispute resolution solicitor to send a letter for £300. I’m sure we could do it ourselves with a template guide. 

Don't put a NOC on - that makes things 100 times worse.
How many consecutive months was the payment late for?

Katykat

D3xt3r5L4b said:

Katykat said:

Update. Very replied to say that they are upholding their decision. Now, I’ve researched this a little and also spoken to an accountant friend who is the finance manager of a large company and the conclusion is that this should not have been classed as a default but a late payment. Also, that late payments  should not be referred Until there have been 3 late payments, defaults referred after 30 days. This was 1 day late and only for a nominal £20. The options now is to put a Notice of Correction on the bad score ( but has to be done individually on all 3 credit sites) and also to start a dispute resolution with the Ombudsman. 

My questions now, is which Ombudsman to contact, and is there a template for us to fill in & send to Very? My son has had a quote from a dispute resolution solicitor to send a letter for £300. I’m sure we could do it ourselves with a template guide. 

Don't put a NOC on - that makes things 100 times worse.
How many consecutive months was the payment late for?

The payment was 1 day late. He set direct debit up on 11th June, Very said they told him on that date that because it takes 30 days to set DD up, he would have to make a manual payment of £20 on 12th June. He disputes they told him this. The DD was 3 monthly payments of £200. When he received a text telling him he hadn’t paid, he rang Very and paid the whole £600 in full & cancelled the DD? At no point did Very inform him in writing that they were referring him for late payment. Why no NOC? 

D3xt3r5L4b

Are you sure it's marked as defaulted?
Has he checked all 3 of his credit reports to confirm this?

Katykat

D3xt3r5L4b said:

Are you sure it's marked as defaulted?
Has he checked all 3 of his credit reports to confirm this?

He used MSE credit checker tool so whatever that told him. He has also recently applied for a mortgage. His mortgage advisor was the person who first alerted him to the credit rating on Experian because that’s who Nationwide BS used.