Barclays credit nightmare!

by Mick Roberts

9:48 AM, 5th October 2023, 3 years ago 19

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Barclays put bad credit on my file 154 times while the Financial Service Ombudsman are investigating them, even though I OVERPAY my mortgages!

I am not the only person to be affected. Customer accounts managed with the bank’s Trinity IT system did not accurately record monthly loan repayments, resulting in the bank wrongly flagging customers in arrears and marking down credit records shared with credit agencies.

Borrowers were left unable to secure new loans or move to other lenders, including over the past two years when interest rates have soared. In one case, Barclays mistakenly issued seven monthly defaults on 22 mortgages on a single borrower’s credit file.

The high street bank has informed one affected customer that it is “unlikely” to resolve the problem before the end of 2024, when it plans to move clients to a new system.

It all started in 2017, when I first became aware of the problem. At the time, Barclays said the matter had been resolved. However, the issue worsened when I attempted to remortgage the three properties held with a different lender two years ago.

In 2021, I was offered a mortgage rate of 1.49 per cent on the three properties only to have a credit check fail. I am now paying more than 9 per cent having been placed on tracker rates.

I have not slept for three years. I can’t get a credit card, a phone contract. Normally my credit is clean. I have been reduced to handing out leaflets to passers-by in front of my local Barclays branch decrying the situation. Once, I glued myself to the counter in protest.

The Financial Ombudsman has upheld complaints made by me, while public records show it did so for similar complaints made by at least two other customers. In July, it ruled Barclays should pay me £1,300 and the difference between the current market rate and the one I would have been able to access had he not been flagged in arrears. This would come on top of some £1,600 in compensation he had already received.

Barclays said it had provided a “dedicated point of contact” as ordered by the Financial Ombudsman. It declined to comment on why Roberts had been informed his account would not be migrated to a different system until the end of next year.

The full story can be read here in the Financial Times (for some users this may be behind a paywall)

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Tags: barclays bank, Barclays Credit Issues, Barclays Trinity IT System, credit report issues, Financial Ombudsman, financial times, Loan Repayment Errors, mortgage problems, Remortgage Difficulties

Comments

Mick Roberts Read Full Bio

Member Since June 2013 - Comments: 3246 - Articles: 81

4:27 PM, 3rd January 2024, About 2 years ago

Reply to the comment left by JAH71 at 02/01/2024 – 00:19
Yes, I imagine there has been many of us.
Yes, I’ve had same as u, Credit cards refused, mortgages etc.
I’ve just been paid about £14,000 compensation with lots more to come.
I’m trying to message u on here, but don’t know how to do it.
Here is the Journalist at Financial times who did want to get hold of more people:

[email protected]

1 Report Comment Reply
Stella Read Full Bio

Member Since May 2014 - Comments: 620

4:41 PM, 3rd January 2024, About 2 years ago

Just a word of caution about Nationwide.
I read a while ago that Nationwide were promoting Shelter even though TMW are also part of Nationwide.
That is the only reason I personally would not have an account with them.

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Stella Read Full Bio

Member Since May 2014 - Comments: 620

5:50 PM, 3rd January 2024, About 2 years ago

Reply to the comment left by Mick Roberts at 03/01/2024 – 16:27
How about also getting in touch with the BBC “Rip Off Britain”
They might be interested as it affects so many people.

2 Report Comment Reply
Giles Thompson

Member Since June 2025 - Comments: 2

11:44 PM, 3rd June 2025, About 11 months ago

Mick,
May we speak please? It’s to do with Barclays. I am an enormous fan of your resilience.
Giles

1 Report Comment Reply
Blodwyn Read Full Bio

Member Since August 2016 - Comments: 508

9:02 AM, 4th June 2025, About 11 months ago

Time someone cut Barclays down to size? All of you write to your MP? Their high handedness is causing real ground level concern. A farmer I know had the farm account (opened 1916!!) closed the year before last, summarily and no apology. It had stopped making money for them? My local Conservative Party Branch had its account closed.

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Mick Roberts Read Full Bio

Member Since June 2013 - Comments: 3246 - Articles: 81

9:18 AM, 4th June 2025, About 11 months ago

Reply to the comment left by Giles Thompson at 03/06/2025 – 23:44
Yes, private message me. I have no tips with Barclays though, they have no shame and are very hard to contact the top people

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Blodwyn Read Full Bio

Member Since August 2016 - Comments: 508

10:07 AM, 4th June 2025, About 11 months ago

Reply to the comment left by Stella at 03/01/2024 – 16:41I respect your concern but have had good service from Nationwide now for over 40 years.
I have several accounts for different purposes and won’t shift them for ‘ethical’ purposes to another bank/b.Soc whose hidden embarrassments may be worse? Life is too short for Miliband minor brand grandstanding?

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Giles Thompson

Member Since June 2025 - Comments: 2

9:58 PM, 7th June 2025, About 11 months ago

Mick,

Thanks for your speedy response and sorry for my/this delayed one. I couldn’t find a way to private mail you. I contacted property118, and Nick got back saying that they’ve disabled the private message function.
I’m not on any social media and I only signed up to 118 so I could contact you – Aside from two Guardian articles in September and October 2021, and the FT article in October 2023, you are the only other documented source of knowledge regarding BB Trin’ IT failures. That, and the fact that you didn’t give up when faced with BB’s obfuscation, makes you unique. Their systems are designed to confuse and exhaust and in you they met their match. They will also meet that with me, but together, with others, we could tip the balance.
If agreeable(?), I will look for other ways to privately communicate with you. In the meantime, you have my respect. The world needs more of you.
Best
Giles

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Mick Roberts Read Full Bio

Member Since June 2013 - Comments: 3246 - Articles: 81

9:08 AM, 12th June 2025, About 10 months ago

Reply to the comment left by Giles Thompson at 07/06/2025 – 21:58
Giles,

Yes I’m contacting you now through Neil.

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