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Compensation for financial distress

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  • Compensation for financial distress

    Hey guys,*

    I recently discovered that a store card I had closed had not been closed properly.*

    I closed the card for a popular high street shop in May 2018 however this year when applying for a mortgage and checking my credit file I noticed that the card was still open on my credit file. (I know, I should have checked it earlier but I never thought I needed to, sounds stupid now I know!) As you can imagine this was a real shock and has affected my credit score over the last couple of years. This was rather distressing for me and impacted the options I had for mortgages. *

    I have since been offered the amount of £70 as compensation to account for the error the store card company made. They have admitted the card should have been closed properly in 2018 and it should have been reflected on my credit file. This amount is also to account for the poor levels of service I had when I called to report what had happened.*

    My question here is - does £70 reflect what has happened? I’m unsure if this is an amount I should query or except as I have never experienced anything like this before.*

    The error has caused me financial and emotional distress and has affected my ability to get credit elsewhere. Any advice would be amazing.

    Thank you,*
    Spaniel14

  • #2
    It would be difficult to determine how much or what the company x should owe you and how much it has affected your score. Again same goes for emotional distress. Unless you have evidence that prior to you trying to get a mortgage that it has affected your score or has impacted on your credit.

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