Why are we refused credit when we are paying the debt off

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My husband and myself had our home repossessed 3 years ago, there was a shortfall in the mortgage so we are now paying it back monthly although the bank has already got all their money back throught the MAP scheme. Why are we now not allowed credit even when we are paying the shortfall back? Also we do not know if the bank cashed in our endowment polices against the shortfall, the bank will not give us a full statement on how they came to the shortfall figure. Is there anything we can do?

-- fiona sinclair (sinclairf@hotmail.com), April 09, 2000


You are probably on a Credit Reference Agency, with arecord of defaulting.

To find out, follow the advice on www.home-repo.org and get a copy of your credit file. If anything is inaccurate you have the right to have it corrected. Check the balance on your account is shown accurately and that you are set up as a repayment plan and not as a defaulter.

If all else fails- complain to the Data Protection Commissioner.

-- James Simons (james_2999@hotmail.com), January 14, 2001.

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