Damaged Credit Rating


Registered User
I sold a mortgaged property a number of years ago as I could not afford the repayments. A small number of arrears accrued on the account prior to the sale. I was left with a large residual debt which I also could not pay. Arrears grew rapidly on the remaining debt.

During the time I was in the home, I was under great pressure to make the mortgage repayments. From time to time, I required alternative means of credit, for motor loans and general run of the mill expenses. Clearing & closing my credit card account and revoking my overdraft was one of the conditions I had to meet in order to get a personal loan.( This loan was not from my mortgage provider).

Turns out, the bank overcharged me significantly on the monthly mortgage repayments. The bank in question admitted they overstated the arrears and adjusted my credit rating accordingly. Prior to the banks recent correction I had a severely impaired credit rating. As a result, I was unable to obtain credit for a number of years.

Has anyone experienced furthering a claim like this or could anyone give any insight if I have a claim worth pursuing?

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Frequent Poster
No and not being smart but it sounds like the bank probably did you a favour making you close your credit card and overdraft.

You should check out a guy called Dave Ramsey. You'll find him on you tube or download the app for his radio show.
If you listen to him and take on board what he says it will transform your relationship with debt (for the better).