Credit File SETTLED Accounts Removal

[AppleX0]

Hi there,

 

18 months or so ago I was going through some hard times and stupidly relied upon Payday loans to keep me afloat.

 

Most of the loans (had around 10 in total, all with Wonga) were around 500 pounds and all were paid off before the due date.

 

5 years before all of this I had had some trouble with credit and unfortunately got a default from a lender meaning I was struggling to get credit anywhere else. At the time of signing up to Wonga they were running their 'Wonga will do wonders for your Credit File' campaign (http://www.dailymail.co.uk/news/article-2237712/Wonga-sorry-sending-emails-implying-loans-wonders-peoples-credit-ratings.html) and saw them as a kind of win/win for me, enhancing my credit file as well as tiding me over.

 

Now 18 months on, having a perfect credit file (old default had dropped off and been running a credit card perfectly for the last year as well as various utilities) I am in a position to obtain a mortgage. So I've looked at my credit file and lo and behold there are 10 SETTLED Wonga accounts listed on there. Having read through the forums, from what I can gather this will not help me out at all with any sort of application.

 

I've approached Wonga about the removal of these entries as I believe they will hinder any chance of me obtaining credit, which was totally against their advertising campaign at the time of me signing up but they have basically fobbed me off with a blanket 'We have to keep an entirely accurate CRA log'.

 

I would like to however take this further, what would my next steps here be? Would it be a solicitors job from here on in or should I contact the CRA's directly?

 

Any help would be greatly appreciated.

 

Thanks!

[maroondevo52]

Hi,

 

I've got the same problem as you, not sure there's a great deal you can do, there's a thread here that may be of interest............

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?398164-Pay-Day-Loans-damage-to-your-future-credit-rating

[silverfox1961]

Hi

This can be really difficult to resolve. Yes, CRAs have to record accurate information provided by the PDLs but, as in your case, you applied on the (false) premise that by having payday loans would enhance your credit profile which Wonga accepts was wrong.

 

The only way I can see any resolution is to contact wonga again and (if your lest communication was not a complaint) submit as a formal complaint. (letter headed as such)

 

If they reject your complaint you can escalate it to the regulators. The Financial Ombudsman may take an interest as may the Information Commissioner.

 

Suggesting court action at this stage is not something I would go for.

[orfoster]

Hi

This can be really difficult to resolve. Yes, CRAs have to record accurate information provided by the PDLs but, as in your case, you applied on the (false) premise that by having payday loans would enhance your credit profile which Wonga accepts was wrong.

 

The only way I can see any resolution is to contact wonga again and (if your lest communication was not a complaint) submit as a formal complaint. (letter headed as such)

 

If they reject your complaint you can escalate it to the regulators. The Financial Ombudsman may take an interest as may the Information Commissioner.

 

Suggesting court action at this stage is not something I would go for.

 

I've served a s10 notice on Wonga and am in correspondence with their legal dept via their CEO who I emailed about this. Do not go to FOS as they are an absolute waste of time and don't uphold the complaints on the issue. See the FOS outcome register to see how they treat these sorts of complaints.

 

The new CONC FCA rules will give reason to take action or in my view the DPA.

 

I've now had 5 PDL's (not for me unfortunately) remove credit footprint in full they include; Mr Lender, Pounds to Pocket, Quickquid and Vivus.

 

Cheers

[BRIGADIER2JCS]

The only way is through Wonga, they are correct in recording the data, at the time these loans were taken it seems that Wonga had no idea how other potential lenders would view a PDL Loan. I think the fact that there are so many settled accounts will be a big stumbling block.

 

 

The approach of appealing to the CEO on the grounds of the advertising having the reverse affect to that claimed may work.

 

 

You could also try the Information Commissioners Office with a complaint on the same basis.

[Cal80]

I've served a s10 notice on Wonga and am in correspondence with their legal dept via their CEO who I emailed about this. Do not go to FOS as they are an absolute waste of time and don't uphold the complaints on the issue. See the FOS outcome register to see how they treat these sorts of complaints.

 

The new CONC FCA rules will give reason to take action or in my view the DPA.

 

I've now had 5 PDL's (not for me unfortunately) remove credit footprint in full they include; Mr Lender, Pounds to Pocket, Quickquid and Vivus.

 

Cheers

 

Hi Orforster

 

I am having a nightmare with Quickquid at the moment, I was recently declined for a mortgage due to pdl credit file entries and Quickquid was one of them.

 

I used your template letters and they have sent me three final responses saying that they have behaved correctly and that they will not remove the entries. Can I also serve an s10 on them for this matter ? Also I have had no reply whatsoever from PDUK, how would you suggest that I continue with them? Many thanks in advance.

[clint1974]

I've served a s10 notice on Wonga and am in correspondence with their legal dept via their CEO who I emailed about this. Do not go to FOS as they are an absolute waste of time and don't uphold the complaints on the issue. See the FOS outcome register to see how they treat these sorts of complaints.

 

The new CONC FCA rules will give reason to take action or in my view the DPA.

 

I've now had 5 PDL's (not for me unfortunately) remove credit footprint in full they include; Mr Lender, Pounds to Pocket, Quickquid and

Vivus.

 

 

 

Cheers

 

Certainly be interesting to know the outcome

[AppleX0]

So I decided to go down a different route with this lot...

 

It turns out I had 18+ loans total, paying around £4,000 total in interest. So 10 weeks ago I contacted Wonga regarding irresponsible lending. This week I received a response back saying they are offering me around £1500 for 7 of the loans total interest, and if I accept this it will be a full and final settlement to resolve the complaint.

 

I have now forwarded this case to the FOS as I believe I should push for the full amount of interest owed, plus 8% and compensation, as well as the removal of any CRA entries.

 

Am I being stupid pushing on with this? I have yet to hear from the FOS but they say it can take up to 2 weeks.

 

Any thoughts would be great!