Hi
I've been offered compensation from NRAM for messing up my credit score and I don't know whether to accept it?
Basically, we've been fighting with them continually for years as one of the old Together mortgage customers. We were on a DMP for 7 years, they were charging us exhorbitant interest into a separate arrears account, meaning we came off the DMP owing more than we'd originally borrowed... We sold our house, paid off all other creditors, but NRAM would not negotiate.
Anyway, we're trying to pay them off as quickly as possible and get on with our lives. Our credit score has been in the toilet since 2009, which makes life very difficult sometimes.
I recently found out that defaulted payments should disappear from your credit file after 6 years. Now, I want to be clear that although on a DMP and having made payment agreements with NRAM, we NEVER stopped paying them. So, I complained to them as I noticed that our credit report showed that we were still defaulting.
We came off our DMP 2.5 years ago and have been paying them 3 times the required payment every month since then, so this didn't seem right.
They have come back to confirm that this shouldn't have happened and have agreed to change our credit report to remove the default.
To be clear they have adjusted our Credit Score to show we stopped defaulting in August 2011. So, our score has been affected by this in error for 8 years.
They have also offered £500 for the 'trouble and upset caused' by their error. They have enclosed something to sign that this is 'full and final settlement of my complaint'.
Having dealt with these people for 10 years, I am suspicious that they are agreeing to this.
Any advice please on whether this is something to take further?
Or am I looking a gift horse in the mouth?
I've been offered compensation from NRAM for messing up my credit score and I don't know whether to accept it?
Basically, we've been fighting with them continually for years as one of the old Together mortgage customers. We were on a DMP for 7 years, they were charging us exhorbitant interest into a separate arrears account, meaning we came off the DMP owing more than we'd originally borrowed... We sold our house, paid off all other creditors, but NRAM would not negotiate.
Anyway, we're trying to pay them off as quickly as possible and get on with our lives. Our credit score has been in the toilet since 2009, which makes life very difficult sometimes.
I recently found out that defaulted payments should disappear from your credit file after 6 years. Now, I want to be clear that although on a DMP and having made payment agreements with NRAM, we NEVER stopped paying them. So, I complained to them as I noticed that our credit report showed that we were still defaulting.
We came off our DMP 2.5 years ago and have been paying them 3 times the required payment every month since then, so this didn't seem right.
They have come back to confirm that this shouldn't have happened and have agreed to change our credit report to remove the default.
To be clear they have adjusted our Credit Score to show we stopped defaulting in August 2011. So, our score has been affected by this in error for 8 years.
They have also offered £500 for the 'trouble and upset caused' by their error. They have enclosed something to sign that this is 'full and final settlement of my complaint'.
Having dealt with these people for 10 years, I am suspicious that they are agreeing to this.
Any advice please on whether this is something to take further?
Or am I looking a gift horse in the mouth?
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