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  • Credit Agency Data retention 6 years far too long?

    How come no one has legally challenged this draconian 6 year rule for defaults etc I'm sure their must be grounds. Some interesting comments made in a thread I came across on another forum.

    http://www.consumeractiongroup.co.uk...tention-Period

    What do others think?

  • #2
    Re: Credit Agency Data retention 6 years far too long?

    What do others think?
    I think 6 minutes is too long, let alone 6 years.

    The obvious question to ask in support of reducing the time is, what effect, exactly, did the billions of Credit Checks have upon preventing the on-going banking mess?

    Nothing is the answer.

    The banks would have got themselves into the mess, with or without us.

    We need to Credit Check the idiot grasping banks, not them check us.

    By relying so heavily on Data, they removed the thinking process from the granting or denying of Credit.

    The banks just wanted to get on with their sordid gambling habits, and thought they could leave the mundane task of managing Consumers to their automated systems, which in turn could not pass wind without cross-checking any requests with the extensive - but utterly pointless - Data that was greedily harvested for them by the odious CRAs.

    Silverback

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    • #3
      Re: Credit Agency Data retention 6 years far too long?

      I'd love to see the 6 years get reduced, but I just can't see it happening.
      Niddified and proud!

      Fought and won the UE battle, thanks to Niddy and this forum...
      SB since 2016. Now have my life back!

      (I used to be MustGetStraight but I've lost a "t")

      Comment


      • #4
        Re: Credit Agency Data retention 6 years far too long?

        Originally posted by MustGetStraight View Post
        I'd love to see the 6 years get reduced, but I just can't see it happening.
        There was rumour that if we co-align with the Consumer Credit Directive it'd drop to 3 years but the consumer credit focus group opposed it - Most of Europe only retain data for 3 years - not 6!
        I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

        If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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        • #5
          Re: Credit Agency Data retention 6 years far too long?

          I suspect the 6 years is related to the 6 year Statute Barred issue.

          In the UK, unsecured Debts become Statute Barred after 6 years (if no payment or acknowledgement of it for the last 6 years).

          In Scotland it is 5 years.

          In Europe I understand it is 3 years.

          That may explain why Europe's CRAs only hold Data for 3 years.

          Thus, we should push for a matching reduction here, and the CRA Data should be reduced in line with that.

          Silverback
          Last edited by Silverback; 18th June 2011, 13:23. Reason: Clarity

          Comment


          • #6
            Re: Credit Agency Data retention 6 years far too long?

            Originally posted by Silverback View Post
            I suspect the 6 years is related to the 6 year Statute Barred issue.

            In the UK, unsecured Debts become Statute Barred after 6 years.

            In Scotland it is 5 years.

            In Europe I understand it is 3 years.

            That may explain why Europe's CRAs only hold Data for 3 years.

            Thus, we should push for a matching reduction here, and the CRA Data should be reduced in line with that.

            Silverback
            Exactly - makes sense doesn't it? It's that bloody consumer credit focus steering group that I blame - they are opposing everything that gets put forward - have a mooch of their site (can't link right now) and you'll see.

            I am (and have been for some time now) compiling data on libel in which to start a class action against the CRA's as they have crippled my ability to obtain credit due to ID Fraud against me; they always refuse to remove data for one reason or another BUT i've just got to find the finishing touches to my main argument which is the 1908 Privy Counsel which declared that CRA's could get done for Libel - even as far back as 1908 they seen that it could be a problem.... anyway - more later!!

            See this for info ---> http://www.guardian.co.uk/money/2003...story-link-box
            I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

            If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

            Comment


            • #7
              Re: Credit Agency Data retention 6 years far too long?

              It really is an outrage that about this 6yr period for defaults etc, very draconian indeed. I even saw in the Telegraph this morning that Criminals who plead guilty will have their jail terms halved!! Getting a default isn't even criminal but the sentence is worse!

              This is of great importance to the help bring the economy out of recession, even small defaults can stop you getting a mortgage! There are millions of people unable to get credit as a result of job losses etc and subsquently being unable to pay back monthly payments on credit cards etc

              The Banks got away scot free using tax payers money, none of them were prosecuted here or in the US, they are hording all the cash (our cash) and refusing to lend to anyone unless they have a perfect credit record, what a joke this is!

              Trying to get defaults removed is almost impossible and why should people be punished for 6 years!

              Someone should take legal action and try to challenge the whole area of a 6 year retention and get this changed, I don't even think it's lawful for these defaults to be keep on records for 6 years. One big challenge against the system, whatever the cost is I'm sure, it would be worth it, if this matter was brought to the masses attention on social media sites then I'm sure many would chip in towards the legal cost of the challenge, who could use the best barrister's in the Country

              Check back to one of the links, someone mentioned about the Magna Carta, maybe significant as evidence?

              I'm not sure if I put this thread on the right sub section but, we need more publicity about this matter, it is imho unlawful!
              Last edited by brando69; 18th June 2011, 12:43.

              Comment


              • #8
                Re: Credit Agency Data retention 6 years far too long?

                Originally posted by Never-In-Doubt View Post
                There was rumour that if we co-align with the Consumer Credit Directive it'd drop to 3 years but the consumer credit focus group opposed it - Most of Europe only retain data for 3 years - not 6!
                I thought we work under EU law now and therefore should be adopting the EU standard of 3 years, has anyone challenged this?

                CFA's are a bunch of low lifes

                Comment


                • #9
                  Re: Credit Agency Data retention 6 years far too long?

                  If we are part of the EU why does this Government have a get out clause, just seems that we are in it ,but not part of it.

                  If Scotland has it better than us with only a 5 yr default period.

                  Comment


                  • #10
                    Re: Credit Agency Data retention 6 years far too long?

                    Originally posted by Never-In-Doubt View Post
                    There was rumour that if we co-align with the Consumer Credit Directive it'd drop to 3 years but the consumer credit focus group opposed it - Most of Europe only retain data for 3 years - not 6!
                    Do you think there is any chance of this going ahead?

                    We seem to be bringing other things into line with European standards.... so why not this.

                    I hadn't realised that in Europe it was only 3 years. If only it was 3 years here, my defaults would be half way to dropping off!
                    Niddified and proud!

                    Fought and won the UE battle, thanks to Niddy and this forum...
                    SB since 2016. Now have my life back!

                    (I used to be MustGetStraight but I've lost a "t")

                    Comment


                    • #11
                      Re: Credit Agency Data retention 6 years far too long?

                      Originally posted by MustGetStraight View Post
                      Do you think there is any chance of this going ahead?

                      We seem to be bringing other things into line with European standards.... so why not this.
                      I don't think it will happen, no. The powers that be do not like the idea - as for the EU - we have a separate rule it appears, look at the single currency and other things that we "opt out" of....?

                      Fishy.....
                      I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                      If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                      Comment


                      • #12
                        Re: Credit Agency Data retention 6 years far too long?

                        Originally posted by MustGetStraight View Post
                        Do you think there is any chance of this going ahead?

                        We seem to be bringing other things into line with European standards.... so why not this.

                        I hadn't realised that in Europe it was only 3 years. If only it was 3 years here, my defaults would be half way to dropping off!
                        Exactly imagine how many people's credit scores would improve enabling them to start new businesses borrow sensibily again, it must be an important step to help get the Country out of recession.

                        The Government seems more obsessed in draconian measure to get the masses to pay & suffer big time for all the bankers fcuk ups who basically gambled our money, savings in playing the financial markets, most of them not old enough to understand the instruments that were dreamed up to get rich quick.

                        Many of them addicts high on drugs most of the time, gambling away lots of hard working people's savings and ruined many at that.

                        Still the Banks all get bailed out and now quietly enjoying record bonuses just for stopping the banks from not losing anymore money.

                        We are all just suckers getting shafted by the government and their cronies heading up these financial houses.

                        Time for action don't you think?

                        Comment


                        • #13
                          Re: Credit Agency Data retention 6 years far too long?

                          Originally posted by brando69 View Post
                          Time for action don't you think?
                          See this: #6

                          Bear with me and all will become clear - I am looking at action, but it costs a shit load you know!!
                          I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                          If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

                          Comment


                          • #14
                            Re: Credit Agency Data retention 6 years far too long?

                            I have just picked up this thread and have read with interest. Yes in general most of what you say is absolutley correct in my interpretation of it all.

                            I did try to wade through that vast tome which is the Lisbon Treaty a while back. The pepole to blame are the current crop of yours and mine politicians ( so called elected representatives my A***E) of what ever political colour they are.

                            I gave up when I read the protocols in Appendices 27/28. Basically, what has been signed up to on yours and my behalf is a treaty which has no meaning for you and me. Only the bad bits are binding on you and me, the protocol states that the law in any member state is as laid down in this treaty EXCEPT NOTE EXCEPT Poland and the United Kingdom where the law in those memeber states at the time of signature will continue to apply.

                            No wonder Brown and now Con man Cameron along with his puppy dog treacherous turncoat Clegglet don't want you and I have a proper vote on the subject. It is no wonder the European Court of Justice get so peed off with our judiciary. I even found a commentary by one of our bewigged buffoonery who was whining and complaining that their judges were not even elected members of the judiciary bench.

                            Huh What?

                            Since when have I had a vote to say who will sit on the Queens bench or any other court post for that matter? And I am in general anti EU as I have worked in a previous life for the technical commission.

                            Sorry rant over, its three years on both counts in the EU.

                            regards
                            Garlok

                            Comment


                            • #15
                              Re: Credit Agency Data retention 6 years far too long?

                              Originally posted by garlok View Post
                              I have just picked up this thread and have read with interest. Yes in general most of what you say is absolutley correct in my interpretation of it all.

                              I did try to wade through that vast tome which is the Lisbon Treaty a while back. The pepole to blame are the current crop of yours and mine politicians ( so called elected representatives my A***E) of what ever political colour they are.

                              I gave up when I read the protocols in Appendices 27/28. Basically, what has been signed up to on yours and my behalf is a treaty which has no meaning for you and me. Only the bad bits are binding on you and me, the protocol states that the law in any member state is as laid down in this treaty EXCEPT NOTE EXCEPT Poland and the United Kingdom where the law in those memeber states at the time of signature will continue to apply.

                              No wonder Brown and now Con man Cameron along with his puppy dog treacherous turncoat Clegglet don't want you and I have a proper vote on the subject. It is no wonder the European Court of Justice get so peed off with our judiciary. I even found a commentary by one of our bewigged buffoonery who was whining and complaining that their judges were not even elected members of the judiciary bench.

                              Huh What?

                              Since when have I had a vote to say who will sit on the Queens bench or any other court post for that matter? And I am in general anti EU as I have worked in a previous life for the technical commission.

                              Sorry rant over, its three years on both counts in the EU.

                              regards
                              Garlok
                              I can't find any law stating Defaults have to remain on CRA files for 6 years? Are we all just being conned because that's what we are told, if there is no law, surely it can be challenged?

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