Tuesday, 15 December 2015

More Than A Little Bit Cross!

I was really surprised a couple of weeks ago to receive a letter from my mortgage provider thanking me for making a capital payment.

Much as I'd love to be able to pay lump sums off my mortgage I can't.  I DO pay a little extra each month but it's really only a token amount and won't reduce the term of my mortgage significantly.

Anyway, I phoned them and was told that the letter had been sent in error and my mortgage account was exactly as it should be, ie up to date.

A few days ago I recieved another letter telling me there was an outstanding amount on my account that may be an oversight on my behalf and that I needed to send a payment to bring it up to date.

So I phoned them again ...

After being on hold for half an hour I was told that they had made a banking error and my monthly payment had been applied as a capital payment.


I was assured this error would be rectified immediately and that I would recieve no further communication from them other than conformation that they had done what they said they would do.

Today another letter dropped on the mat.  This time from their secure lending department thanking me for my recent enquiry regarding the arrears on my account and asking me to address them immediately!

I was slightly frustrated by this point having already phoned them twice but, yet again, I picked up the phone.

Again they assured me that it was a banking error, again they admit it's their fault, again they acknowledge that they can see I HAVE made a payment.

But this time they tell me that it has been referred to their credit department as a non payment.

Basically this means that there is a big black mark against my credit rating.

They assure me that once they have resolved the problem and moved my money to the correct place then they will removed this black mark from their system but, unfortunatley this system is shared by credit agencies ...

So, because of their mistake which they freely admit.  Despite not only being up to date with my mortgage but also being in credit with over payments each month I may now have a poor credit rating unless I pay a credit agency to run a check and (if this information IS on my file) I will have to arrange to have it removed!

Actually, scrub the title of this post.

I'm bloody FUMING!!!


joeh said...

Call them up, demand a supervisor and inform them that unless you receive written confirmation that the situation as been rectified, and there will be zero repercussions on your credit, within a week, you will forward all correspondence to your lawyer and will take legal action against them to be appropriately compensated for the financial and emotional costs to you because of their incompetence.

Follow that up with a letter stating the same to the appropriate personnel at the bank.

Val said...


That's how it is these days. Incompetent workers muck up the works, and it's up to us to prove THEIR mistakes. It happened to us with a medical payment. The data entry clerk typed in the wrong account--transposed two numbers. It took several calls and a copy of the canceled check from the bank to remedy the situation. Meanwhile, somebody got a free payment.

Sarah said...

I'd forgotten your background was in finance Joe - you are absolutely right. Up until the point where I was told my credit rating might be affected I was prepared to accept that mistakes can happen but this is ridiculous. I responded immediately and, had they resolved it there and then everything would have been sorted with no damage to my credit rating so yes, letters WILL be sent and appropriate action taken.

That's the bit that gets me Val. It's now MY responsibility to sort it out because their initial error and then inaction may have resulted in incorrect information being passed to an outside source. I'm not looking to take out credit on anything but if I had say planned on taking advantage of the sales after Christmas to make a large purchase like carpets or something. I now wouldn't be able to because even if my details haven't been picked up by credit agencies there would still be the banks own negative rating against me until they have processed their paperwork to correct it and they tell me this may not happen until the end of January.