TSB not helping with dispute on file - help!
bma14
Posts: 87 Forumite
I am currently applying for a mortgage and have come across an issue on my credit file.
I usually have perfect credit. I have a dormant TSB Student Credit card which expired about a year ago. I was told not to cancel it as it would put a dunt in my credit file and I was preparing to get a new mortgage with my partner. When the card expired I simply ignored it and haven't used it. I don't otherwise bank with TSB anymore.
The year before last I set up a website for my local rugby club and had used my TSB credit card to pay the domain charges etc (about £100). I didn't know it would automatically renew itself using the same card and in August it renewed it using the details of my expired card.
Needless to say I didn't notice this until I got a letter from TSB in October saying I had missed a payment. I was confused by it and logged onto online banking and seen the transactions. I paid the credit card off in full at that time.
I am now in the end stages of obtaining a mortgage in principle and have seen that the missed payment has put a huge dunt in my credit file. My mortgage adviser has said that most places wont lend where there has been a missed payment of any kind and that I need to get it removed.
I have phoned TSB and they have told me they can't do anything as it was valid for the web host to take the money as they don't take from the expired card but from the account. They told me all they could do would be put a note on the file but they can't remove it showing as a missed payment.
Can anyone lend some advice about what I can do? Are TSB right? Is there anything I can do to get it taken off?
I am so stressed that this is going to mean that I either can't get the mortgage or can only get it at a high interest rate which will make it unaffordable
All for the sake of a mistake.
helppp!
I usually have perfect credit. I have a dormant TSB Student Credit card which expired about a year ago. I was told not to cancel it as it would put a dunt in my credit file and I was preparing to get a new mortgage with my partner. When the card expired I simply ignored it and haven't used it. I don't otherwise bank with TSB anymore.
The year before last I set up a website for my local rugby club and had used my TSB credit card to pay the domain charges etc (about £100). I didn't know it would automatically renew itself using the same card and in August it renewed it using the details of my expired card.
Needless to say I didn't notice this until I got a letter from TSB in October saying I had missed a payment. I was confused by it and logged onto online banking and seen the transactions. I paid the credit card off in full at that time.
I am now in the end stages of obtaining a mortgage in principle and have seen that the missed payment has put a huge dunt in my credit file. My mortgage adviser has said that most places wont lend where there has been a missed payment of any kind and that I need to get it removed.
I have phoned TSB and they have told me they can't do anything as it was valid for the web host to take the money as they don't take from the expired card but from the account. They told me all they could do would be put a note on the file but they can't remove it showing as a missed payment.
Can anyone lend some advice about what I can do? Are TSB right? Is there anything I can do to get it taken off?
I am so stressed that this is going to mean that I either can't get the mortgage or can only get it at a high interest rate which will make it unaffordable
All for the sake of a mistake.helppp!
Total Debt January 2017: £2,000 Total Debt October 2019: £300 (85% repaid)
Savings Goals: House Deposit: £15,000/£15,000; Christmas 2019 Savings: £450/£600
Soon to be on my journey of renovating a house on a budget
Savings Goals: House Deposit: £15,000/£15,000; Christmas 2019 Savings: £450/£600
Soon to be on my journey of renovating a house on a budget
0
Comments
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TSB are correct. You should have cancelled the CPA either with the company or with TSB.
It would be worth sending a formal complaint - but appealing to their goodwill rather than being shouty. They might do you a favour and remove it.
But if it's simply a missed payment, rather than a default, that's not the end of the world, although your timing isn't great. Any 'dunt' in your credit file is relatively minimal, if you have an otherwise well managed file.
Use a decent broker for the mortgage, so your application gets placed correctly (not an estate agent advisor or one of the large chains like L&C).0 -
Sigh I didn't even think about it at the time as I thought it was just a one off payment.
When I called them the other day I was really nice and tried to appeal to their good graces. I might try again today.
My 'number' is still showing as in the high 800s (though I know the score isn't the issue here but the missed payment). Just sick with worry that this will mean we can't buy the house. Just adding to the rest of the stress such as selling etc.
I am using a good local one and she has been helping me a lot so hopefully she can sort it even if my preferred lender says no because of the missed payment.
Thank you for your replyTotal Debt January 2017: £2,000 Total Debt October 2019: £300 (85% repaid)
Savings Goals: House Deposit: £15,000/£15,000; Christmas 2019 Savings: £450/£600
Soon to be on my journey of renovating a house on a budget0 -
Nothing for TSB to resolve - it's your responsibility to cancel and renewals and CPA's.
Ignore you "800" score - if you want it back to 999 again I can donate you 199 numbers from my made up score0
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