Credit Agency Data retention 6 years far too long?

[garlok]

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

In general brando I would agree but I think as we have no written constitution here it has become custom and practice which is in turn related to the Statute (statue?? typo) Barred issue (as per Silverback) which ties in the county court procedural rules whereby a judgment on unsecured debt is 6 years, mortgages 12 years?? I don't know the numbers I will admit. Also is there not something buried deep in the bowels of the Data Protection Act and associated regulations which they all ignore anyway.

regards
Garlok

[brando69]

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

In general brando I would agree but I think as we have no written constitution here it has become custom and practice which is in turn related to the Statute (statue?? typo) Barred issue (as per Silverback) which ties in the county court procedural rules whereby a judgment on unsecured debt is 6 years, mortgages 12 years?? I don't know the numbers I will admit. Also is there not something buried deep in the bowels of the Data Protection Act and associated regulations which they all ignore anyway.

regards
Garlok

Understand but I'm only talking about defaults, not CCJ's

[Never-In-Doubt]

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

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?

Its not a law, it was agreed and written into the DPA - so it falls within a current legislation (DPA1998) thus if the subscribers and the private companies agree that it is acceptable then I guess, the ICO also accept it.

However there is nothing legal that stipulates that data should remain for 6 years. Its the accepted time - I have a piece on this, bear with me and i'll post it later - it explains all about CRA's, how they were formed (from GUS background) and how we can beat them using ancient and current laws!

Its time consuming to say the least!

[Angry Cat]

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

Defaults will stay on ones credit file for 6 years, from the date of the first default that is registered with the CRA's.

The following may be of benefit, especially 'Unresolved Disputes:
http://www.ico.gov.uk/upload/documen...3%20%20doc.pdf

[brando69]

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

Its not a law, it was agreed and written into the DPA - so it falls within a current legislation (DPA1998) thus if the subscribers and the private companies agree that it is acceptable then I guess, the ICO also accept it.

However there is nothing legal that stipulates that data should remain for 6 years. Its the accepted time - I have a piece on this, bear with me and i'll post it later - it explains all about CRA's, how they were formed (from GUS background) and how we can beat them using ancient and current laws!

Its time consuming to say the least!

Keep up the good work, eventually sanity will prevail

Does paul have a view on this matter, being the legal beagle?

[Never-In-Doubt]

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

Oomph I doubt he'd like to be called a legal "beagle" after recent events

[pompeyfaith]

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

Reference in case anyone wants to read it

http://europa.eu/lisbon_treaty/full_text/index_en.htm

[brando69]

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

Back after a long break, all my defaults and toxic debts have dropped off my credit file, time to celebrate! Now to rebuild Experian score 970 excellent but Experian poor 300, which doesn't make much sense. Any tips on rebuilding credit files, worried that if I apply again for credit either via store card or credit card, even though all my defaults etc have long dropped off, that as many credit companies have merged or been taken over, there's a good chance a few of them may have me on their list, or am I being paranoid? Anyone know how long Credit companies store details on previous defaulters etc? Thanks and nice too see no nasty data on my file anymore, I want a fresh start, 6 yrs is way to long to be punished for debt!

[Never-In-Doubt]

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

What actually shows on your credit file, ie anything bad or nothing at all?

Are you on the electoral register? Have you moved in the last 5 years?

When did you last apply for credit?

[brando69]

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

HI NID Showing on ER for 4yrs, no bad credit Experian shows a closed BT account and a mail order paid up to date credit limit £300 and Brit Gas & Elec up to date but with a couple of 1's & 2's that was a few months back but now all up to date & clear.

Equifax is poor though only 300 but again nothing, could just be lack of credit credit but there in lies the problem as worried if I apply for some credit one of these Co's may have old data stored on me, even though it would be over 6 yrs. Wouldn't they turn me down due to old stored data they may have on me or would those records be deleted by now in their computer systems?

I have one credit search in last 6 months with Equifax & none with Experian No other onerous data.

I think I should find a credit company that uses Experian as my score is 970 (excellent)?

[Never-In-Doubt]

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

Mate, just apply to somewhere that uses Experian and get some form of credit, for instance have a go at a Capital One card....?

--> http://www.capitalone.co.uk/web/index.jsf

See how you get on there.....

Ignore the scored provided by the CRA's - they mean nothing, they are totally random to the CRA and will never reflect a real lender.

[brando69]

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

Thanks NID

I thought Capital One uses Equifax Would prefer one that uses Experian?

[Never-In-Doubt]

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

Thanks NID

I thought Capital One uses Equifax Would prefer one that uses Experian?

But no credit makes it hard to get credit so you need to start at the bottom and get a basic card first.....

Ignore the scores that Experian etc provide - they are meaningless.

Read this for a full list! --> http://forums.all-about-debt.co.uk/s...ference-Agency

[brando69]

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

Thanks, that's useful, I'll give them a go

[brando69]

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

online application got turned down!