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I was wondering if there are any helpful souls out there that can advise me on the following situation:
About 2 years ago I bought a car from a local garage to which Welcome Car Finance provided the Hire Purchase Finance.
Subsequently, after around 5 months, the engine blew up. I spoke to trading standards and they decided to help me reject the car from the garage as being unroadworthy on purchase (they wrote to Welcome Finance etc).
Anywho after a little arguing on both sides, Welcome Finance agreed to refund my money taking only a months worth of payment for my use of the car over the five months (I had not missed any payments or anything).
Since being finally settled I had to go an purchase a cheap run around which I used for a few months until I saw a vehicle I wanted going at a local car retailers. I tried to get a loan to pay for this at a decent level of interest (I should by now have a good credit rating having 2 credit cards and paying off 3 previous loans without any defaults).
However I was not able to get a decent loan at a decent APR. In fact I tried several places and they said my credit rating was too low (weird I thought).
I explained this to the garage who eventually managed to get me a company that would offer me Higher Purchase for the car at a high interest rate (my little run around was almost dead so I needed a car).
Anyhow, further to this I recently saw a perfect house that I wanted to purchase so went to look at a few mortgage companies who could help me (again I have not missed a payment on any of my credit agreements for the past 5 years or so, and then it was only 1).
But alas, no mortgage company would give me the light of day, and my perfect home came and went with me not able to offer on it, it was sold.
Now here is the bit I need advice on. Being a little confused as to why my credit rating was not so good I signed up with Experian who produced the rating which apart from one entry was unblemished. That one entry was a really really bad (the worst type) default put in by Welcome Car Finance when they refunded me my money.
My question is this, where do I stand with getting Welcome to remove the default, is what they have done legal ? and is there anyone that thinks I should look at taking Welcome to court for damages due to the problems I have had ?
------------------------------------------------------------------------------- Please clickthe scales in left hand corner if this post has helped you.
Contact Experian straight away and arrange for a Notice of Correction to be placed against that entry on your credit report. This will explain what has happened and anyone else accessing your report will have to take this explanation into account.
Please note I'm not insured in this capacity, so if you need to, do get official legal advice.
Welcome Finance are Evil
(I should by now have a good credit rating having 2 credit cards and paying off 3 previous loans without any defaults).
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