Mistakes by lender on my ICB report. What should I do now?

I went home early today and was surprised to find a letter from one of the big two advising me that they had been incorrectly entering my repayments on a loan I had with them with the ICB. The letter was all very matter of fact and non apologetic. It also stated that I had applied for credit from another institution at that time and may have been turned down because of my ICB rating which was obviously impaired.

I most certainly did not like the tone of the letter. Just wondering what I should do next and if anybody else has received similar.

I wouldn't worry too much about the tone of the letter.

Were you refused credit on the basis of this error? That would be more serious.

Brendan

Thank you for your quick response Brendan.

I was scratching my head trying to remember had I been turned down for credit and I remembered I had. I didn't follow it up at the time and do not have any paperwork to support this, however the letter I received today states that I had applied for credit with another institution at that time and may well have been turned down because of the impaired history (that I was completely unaware of). Yes, I was denied credit.

I am shocked that they have admitted to this error!!!!

Being turned down credit due to an incorrect ICB is very serious.
With luck it may just be a minor enough error but I would write to (refuser) to ensure (refuser) knows it was not your error.
It cannot be overstated that your ICB is part of your good name.
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Go on-line and apply for your ICB , it should show clear.
If not sorted just sue them.

'If not sorted just sue them. '

For what?

"I was scratching my head trying to remember had I been turned down for credit and I remembered I had. I didn't follow it up at the time and do not have any paperwork to support this"

What loss has Kerrigan suffered?

mf

I would expect that when Bank sees the error they would quickly sort it.
If they havn,t sorted it the {loss} may indeed be difficult to quantify, but as an example.
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John applies for mortgage , he is turned down, the lender has no (to my knowledge) requirement to say why John was declined. A lender normally has automatic decline on ICB issues.

John applies for Car HP , again he is turned down,in this case the local garage owner may assume John hasn,t paid his bills. That is an ongoing (slight) on his good name in his local area.
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An actual case I do know about.(I have changed things slightly).

Mark a professional man , got note from Bank circa 4 years ago that they had put in errors on his ICB.
Since Mark had fathers guarantee , father was approached to pay off arrears.Not a nice position.
Things were resolved, error admitted and move on, no great harm done...

However when Mark went to get Mortgage this year , he was put through the wringer to get a Mortgage (he did not know his ICB was still not corrected)
Yet again a month later he gets note from Bank re error on ICB but this was after he was getting trouble in getting mortgage.Only then did he think that the (duff) ICB was hurting him.

John would not be (finance) savvy and until he got 2nd note on wrong ICB from Bank, took the difficulty he was having in getting mortgage down to these strange times.
For the record he is suing them.
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Maybe before anyone looks for finance they should get their ICB and any issues would @least be spotted, and I am sure would be quickly sorted without hassle.

First I would make sure that the Bank rectify the record and that they send you an extract from the ICB showing the corrected record, and get them to do the running.

Consider formally complaining to Central Bank as they are the alleged custodians for the consumer.

If you want to sue them it could be along the lines of trauma or breach of duty of care.

Wizard Dr,

With you in (get them to do the running).
It amazes me that we let Banks {bully} us ? What other institutions would get away with such a service?

I would not advocate {just sue them } per se , but only when Banks spot an issue they do not sort with speed and courtesy. eg today ptsb are apologising for an issue , how many issues do we need from banks?
All we all have is our good name, subtle little hints that maybe a customer on icb, doesn,t pay bills is corrosive to that.

A poor unfair ICB is an issue that Banks (of all people) should realise is dangerous.

On further investigation, I can confirm ICB damage was rectified but only 3 years later. Credit with another institution was turned down on this basis.

Nothing you can do banks win this one too on basis of qualified privilege ..,.unless you can prove it was malicious and deliberate court will throw it out..,, might be worth complaining to FSO but at most you'd get a few hundred


Google Cagney V Bank of Ireland to view how qualified privilege works....