Credit rating ruined by incompetant company - any recourse available?

stevie123c wrote: »

Hi
My credit rating has been ruined by a service provider due to their incompetence in updating my direct debit details.

I'm just wondering is there any legal recourse for this open to me? Can I get my credit rating fixed? Can I sue?

How do you know your credit rating has been ruined? The Irish Credit Bureau (ICB) only receive information about borrowers who have mortgages, car loans, personal loans, leasing/hire-purchase agreements and credit cards. What sort of service provider are you referring to? Utility companies etc. do not report into the ICB.

Under the Data Protection Acts you can both request a copy of your credit rating from the ICB and if there is a mistake again by law they are obliged to correct it. However it is the lender who provided the incorrect information that must make the amendment with the ICB.

I think talk of suing is premature, and you might possibly be getting unnecessarily worked up here - mistakes can and do happen, but usually can be rectified without recourse to legal proceedings. First off request a copy of your credit score, and if there is an issue go back to the lender who provided the information and explain the situation to have your records updated accordingly.

More information here: http://www.icb.ie/credit_rating.php