Compensation from NatWest due to incorrect default

[Guest]

I recently won my case against NatWest to have a wrongfully placed default on my credit files removed.

To date this has only been removed from Equifax, both Experian and CallCredit have yet to be updated.

So far they have provided a cheque for 80 initially and more recently another 100 due to the ongoing 'human errors' in resolving the matter.

I have now initiated a new complaint in respect of the losses incurred due to the adverse data on my account. I have claimed I would of been unable to obtain a mortgage or at best favourable rates I could afford due to the only default on my account and have therefore had to remain paying rental payments into someone else's mortgage instead of my own. I have worked out that rental payments have amounted to 8000 to date since the default was wrongfully placed on my account and is still present on 2 of the 3 main CRA files.

I am seeking legal advice and whether to progress this complaint through the OFT.

NatWest have recognised my complaint and have requested I provide proof of a failed mortgage application due to the default.

Please advise if I am correct in pursuing this compensation claim. I do not necessarily expect to get near the 8000 but it is the benchmark figure I have effectively had to pay out instead of against my own property.

(original thread I started regarding the removal of the default is on http://forums.moneysavingexpert.com/....php?t=3889267 if you require a little more history regarding the default itself)

[Bill-K]

Re: Compensation from NatWest due to incorrect default

Hi, and welcome to you boomclart. I can't directly help you myself (unless you need a hand with figures etc.) - but you may be interested to know that Celestine, one of our Team here, has been awaiting the judgement on a VERY similar case to yours - and we are expecting to hear about it here within the next few hours. As in your case, the default was removed, and the case was essentially about quantifying the losses caused by this. She has since decided to take a deep interest in the way that defaults can be placed in our credit files without any legal process, yet they can cause severe financial damage over the years. The thread for this is here:-

http://www.legalbeagles.info/forums/...ngful-defaults!

Another similar case is that of Sparkie's, which is more complex, and which is now being considered for appeal. It's a long thread, but go to post #710:-

http://www.legalbeagles.info/forums/...parkies-Update

[Guest]

Re: Compensation from NatWest due to incorrect default

Seems to be taking a little while for my account to become fully active, as I have insufficient permissions to view either of those threads.

[Bill-K]

Re: Compensation from NatWest due to incorrect default

Ooops. My apologies. As they are both active claims at an advanced stage, they are within the VIP area. I mentioned Sparkie's case for additional reading, but Celestine's is the one most similar to yours. She will be a bit preoccupied with the judgement on her own case right now, but I will ask her to take a look at yours as soon as she can. As I said, she has an interest in this aspect of defaults.

[Guest]

Re: Compensation from NatWest due to incorrect default

Ah, that would make sense.

Thanks Bill.

Basically looking to see where I stand and if I should try making a mortgage application and when it's rejected try and get a written confirmation that is was due to the default whilst it is still present on my files or if I can argue my case on the strength of it being therein the first place.

What I do know is prior to this default I always had the pre-approved loan option on my Barclays account for upto 16k and that option disappeared after the default came onto my files and I've always been rejected on credit card quotations and only this week have I successfully obtained a credit card on the strength of my Equifax file since the default left that file.

[Bill-K]

Re: Compensation from NatWest due to incorrect default

I stand to be corrected (or even severely @$$-kicked) when someone else comes along, but here's my take on this, boomclart.

NatWurst have admitted the default was wrongly registered, so the first hurdle has been jumped. The next stage is to establish what effect that default had, and NW have accepted in principle, it seems, that if you were denied a mortgage on 'prime lending' terms, then they would possibly be liable to compensate you for that. So - it does seem like a good idea to get some quotes in that respect. I think it would also be good to get written confirmation that you have lost the 'pre-approved' loan facility from Barclays, and any other refused credit. It is important to make sure that you have it clearly in writing that this default is the reason for credit refusal - and not other factors.

I think this needs to be done VERY quickly now, before the other CRA's update their files. Get the evidence ASAP - it should cost no more than a few postage stamps. Any delay now could possibly lose you this evidence, so get the letters in the First-Class post this weekend - and email them as well, if you can. If we cannot prove our case, then we have no case.

[Celestine]

Re: Compensation from NatWest due to incorrect default

Welcome Boomclart

I've only just spotted this as I'm heading off to sleep.

Can you send me a Private Message to remind me and I'll take a look properly over the week end.

Well done for succeeding in getting the default removed. That's always a big hurdle and in itself demonstrates that it shouldn't have been there in the first place! (liability)

Cel

[Celestine]

Re: Compensation from NatWest due to incorrect default

Did you make any mortgage applications etc whilst the default was in place?

You wouldn't be able to claim all the rental payments back, as the other side would argue that you would have been paying a mortgage, so you can only look at the difference between the two effectively. However, you can claim for lost opportunity.

It's up to Natwest to inform ALL CRA's so we need to move your complaint forward to remedy that problem.