Me and partner are looking at buying a house I have Capital One credit card that I don't use and not even logged into. I had fraudulent payment of £4.99 from Uber One which I missed and defaulter one it. Capital One agreed that was fraudulent and refunded me. But this has destroyed my credit rating. I raised a dispute with Transunion. But they've come back to me and told me that the miss payment is correct and will stay on credit report. I feel this is unfair. Is there anything I can do? Edited. No idea why the thread title has come out like that.
Missed payments stay on your file for 6 years i think but you could apply for a Notice of Correction if Dispute fails. A Notice of Correction is a short, free statement you can add to your credit report to explain information or circumstances that might negatively impact your creditworthiness. It's a way to provide context to lenders and creditors, allowing them to understand the full picture beyond just the basic information on your report. Here's a more detailed explanation: Purpose: Notices of Correction are designed to explain unusual circumstances or events that may have affected your credit history, such as missed payments due to illness, unemployment, or fraud. Content: You can use a Notice of Correction to provide a brief explanation (up to 200 words) of the situation. How it works: When a lender or credit provider reviews your credit report, they will also see the Notice of Correction and can consider the information you've provided when making their lending decision. Benefits: While it doesn't fix your credit score, a Notice of Correction can help lenders understand your situation and potentially make a more informed decision about your credit application. Important Considerations: It's crucial that the information in your Notice of Correction is accurate and does not contain defamatory or unsuitable content. You can remove the Notice of Correction at any time.
Use an independent mortgage advisor, and the lender they send you to will probably just ask you about it, and you can explain. It’s probably not going to stop you getting a mortgage but the automated systems of high street lenders if you go direct might block it and make you jump through hoops to use them.
Lots you can do about it, but, there's also some time pressure I assume. There have been some new rules about how lenders and banks must review fraudulent transactions, and, how they repair the damage done from fraud on people's credit reports. I'd need more detail, but, dependent on how Capital One have handled it and how they are reporting it on your credit file, may, mean you could look at a complaint with them. Secondly, for that amount, a lot of lenders won't even an eyelid if everything else is okay with your credit score. I was a mortgage advisor at the beginning of my career so happy to have a look, into commercial/development finance these days but can no doubt point you in the right direction. I also, randomly, play cricket with someone in the fraud protection arena who might know a thing or two on how to get it removed. First post in god knows how long... who knew it would be on this? Suppose it's better than rambling about an embargo
Not sure how badly it is effecting your credit rating and how time pressed you are but I had an issue on mine and I used a company called Haysto who were fantastic brokers to find me a mortgage despite my credit rating having some issues. They were brilliant from day one and although the mortgage I've got now is not the best rate it does mean I've been able to clear up the issue and in a years time I can switch to a highstreet lender and get myself a much better deal. I was desperate to move house so couldn't take time to repair the credit rating issue so they really did come up trumps for me.
