Loan company admitted error - CCJ removal

10173

Hi all

I am currently in the process of sorting out my debt mess and making great progress, thanks to advice and posts from here. I'm in such a better place. 

At my lowest, I took out a loan with money boat who are no better than the pay day lenders of old. 
The initial loan was for £800, and spiralled to me owing them £1715. I made efforts to communicate with them once it defaulted to create an affordable payment plan, however they went straight down the legal route and before I knew it applied for a CCJ against me. Unable to pay and their difficulty in negotiating with meant it ended up being carried out so lumbering me with it for the next 6 years. 
That was about 8 months ago and I'd not heard anything since regarding collection, so was focusing on my other debts and getting them cleared/plans in place. 
However out the blue yesterday I got an email from them saying

"We have undertaken a review of our lending process and have identified an issue that may have impacted the way we calculated your income and expenditure when you applied for your loan(s) (XXXXX). We would like to apologise for any inconvenience this may have caused. To put things right, we have:

• Removed applicable charges and interest that were added to your account which totals £757.50.
• We have made arrangements to remove any negative records that we placed on your credit file. This may take up to twelve weeks to show on your credit report.

As you have an open loan with us (Ref: XXXXX), we have applied the credit to reduce your outstanding balance. Your new balance is now £957.50 and your contractual repayment remains unchanged. If you have any questions please do not hesitate to contact us on 020 81583160 or via email"

I will be contacting them tomorrow via email for confirmation but just so that I am fore armed with some info, am I right in saying that the CCJ can be removed from my file in this case? They are admitting to being in the wrong and the CCJ amount is for what I owed them is incorrect. 
Would I be entitled to anything else from them (or is it worth pushing for?). My mortgage fixed term is over this month and I have had to stay with my current lender on a new fixed rate rather than go for potentially a better deal elsewhere due to the CCJ being on my credit file and a credit search required to move my mortgage. 

Thanks all! 

cymruchris

It would imply that they would - but best to ask them. I don't think from what you've said there'd be anything more to 'push for' - but nice that they've credited your account with a payment, and promised to clean up your credit file. It'll be hard to prove that the CCJ alone was enough to stop you getting a different mortgage if your recent credit history is 'colourful' with problems that you're currently working your way through. Keep focusing on getting your debt down - and hopefully by the time the next mortgage rate change comes around you'll be in a far stronger position. 

10173

cymruchris said:

It would imply that they would - but best to ask them. I don't think from what you've said there'd be anything more to 'push for' - but nice that they've credited your account with a payment, and promised to clean up your credit file. It'll be hard to prove that the CCJ alone was enough to stop you getting a different mortgage if your recent credit history is 'colourful' with problems that you're currently working your way through. Keep focusing on getting your debt down - and hopefully by the time the next mortgage rate change comes around you'll be in a far stronger position. 

Thank you. I am more than happy that hopefully the CCJ will be removed and the debt significantly reduced. Honestly they have been a nightmare to deal with, trying to make me pay back more than I could afford when I was trying to sort a repayment plan and then just going ahead with the CCJ regardless.