Am I entitled to compensation from the bank?

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by pearse » Wed Mar 28, 2018 8:03 am
Hi. I had an IVA which was paid off with lump sum in jul 2016.
Completion doc was sent to all creditors.
2 years on, up to present, i wanted to get new mortgage deal, not moving house just seeking better rate.
A proposed new lender declined my application stating i was showing as DEFAULT on an old bank a/c, which was involved in the iva.
I got in touch with the bank and they said they never received my completion doc.
It was then faxed again, and still they said they didnt receive it. I finally mailed it to them.
Now i must wait until the bank updates their records and in turn i must wait for the credit score companies to update also.
This has caused alot of heartache, a missed oppertunity of a new mortgage and the bill to a financial advisor who still needs paid despite not getting a mortgage.
Am i entitled to any compensation from the bank for their part in this.
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by kallis3 » Wed Mar 28, 2018 8:40 am

When did your IVA start? Your credit record will be shot for six years from the start date regardless of when it finished.

It is remiss of them and you should keep pestering them until they update their records.

You could try for compensation but I doubt you would get any.

When you mailed your completion, did you do it recorded delivery?
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by Foggy » Wed Mar 28, 2018 8:54 am
Agree with Kallis -- worth a shot at compensation, but unlikely to get any. As for the broker's fees .... I would avoid going to a broker who charges anything other than a modest fee for failure. I would also chose a broker experienced in adverse credit applications.
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