MARAS credit check - what does it actually check?

[Never-In-Doubt]

Re: MARAS credit check - what does it actually check?

Just to clarify they cannot see running account info or defaults so don't declare them - as previously mentioned

[PlanB]

Re: MARAS credit check - what does it actually check?

where exactly are credit impaired peeps supposed to live

Rentals aren't as harsh with credit scoring.

Niddy's right when he says that rentals aren't nearly as harsh with credit scoring as mortgage lenders (who have to follow the new MMR rules) because the Landlord knows that they normally only have a six month commitment and then they can start the eviction process or after only eight weeks if there are rent arrears.

I'm sorry if I've been painting a bleak picture but I only wanted to explain the worst case scenario and how to avoid it upfront. The process is the same for all lettings but the interpretation of the credit scoring depends largely on the amount of the rent. In parts of London it's not uncommon to get rent of £5k per week, whereas in some other areas you can rent a whole house for as little as £500 per month. In the latter case the Landlord will relax the criteria.

The dates are relevant too. There can hardly be a person in the UK who didn't get a Default on their CRA file when the Credit Crunch hit unexpectedly. So anything showing between 2008 - 2010 will be expected.

I'm sure SnV will be fine

[Riz]

Re: MARAS credit check - what does it actually check?

There can hardly be a person in the UK who didn't get a Default on their CRA file when the Credit Crunch hit unexpectedly. So anything showing between 2008 - 2010 will be expected.

As Niddy says, defaults do not show up on this sort of check anyway.

[PlanB]

Re: MARAS credit check - what does it actually check?

Just to clarify they cannot see running account info or defaults so don't declare them - as previously mentioned

I've got information just in that MARAS do not see Defaults. Some other tenant referencing services can, so it looks like SnV will be lucky.

[PlanB]

Re: MARAS credit check - what does it actually check?

As Niddy says, defaults do not show up on this sort of check anyway.

Our posts have crossed. I'm told MARAS don't but some others do. I've been informed of my Tenant's Defaults from a Brighton based agency. I was even given the name of the creditor to whom they owed the money and the amount outstanding. We had a thread on this a couple of years ago.

As Niddy says, defaults do not show up on this sort of check anyway.

[Riz]

Re: MARAS credit check - what does it actually check?

I've got information just in that MARAS do not see Defaults. Some other tenant referencing services can, so it looks like SnV will be lucky.

All or nearly all tenant referencing does not show credit account data. If you know of some that do or claim they do, then let me know as I will get them checked out for the validity of their claims.

[Riz]

Re: MARAS credit check - what does it actually check?

I've been informed of my Tenant's Defaults from a Brighton based agency. I was even given the name of the creditor to whom they owed the money and the amount outstanding.

That sounds very dodgy. Even companies that share credit account data at the highest level like banks should not be able to see the name of a creditor.

[PlanB]

Re: MARAS credit check - what does it actually check?

All or nearly all tenant referencing does not show credit account data. If you know of some that do or claim they do, then let me know as I will get them checked out for the validity of their claims.

Posts crossed again.

I can't confirm/deny whether they saw all the running account data, but I can confirm they told me the Default existed. What breach would they have committed for searching for that information? Maybe passing it on to me was a breach but how would searching for it be a crime against the DPA if they had bona fide access to the CRA file?

[Never-In-Doubt]

Re: MARAS credit check - what does it actually check?

Niddy's right

Theres a first

[Never-In-Doubt]

Re: MARAS credit check - what does it actually check?

That sounds very dodgy. Even companies that share credit account data at the highest level like banks should not be able to see the name of a creditor.

They can't. I know the systems used. All they see is the type of debt (ie bank / card / loan) and the balance, last paid etc...

the name is blanked out for obvious reasons, or a bank can undercut your existing provider etc.

[PlanB]

Re: MARAS credit check - what does it actually check?

That sounds very dodgy. Even companies that share credit account data at the highest level like banks should not be able to see the name of a creditor.

Maybe naming names was dodgy but knowing of an existing Default however anonymous the creditor wouldn't be dodgy would it? Incidentally the name they named was accurate as confirmed by the Tenant (who I accepted once they explained their divorce situation).

[Never-In-Doubt]

Re: MARAS credit check - what does it actually check?

Posts crossed again.

I can't confirm/deny whether they saw all the running account data, but I can confirm they told me the Default existed. What breach would they have committed for searching for that information? Maybe passing it on to me was a breach but how would searching for it be a crime against the DPA if they had bona fide access to the CRA file?

they wouldn't know the name. It's impossible for them to know it UNLESS the tenant told them.

[Riz]

Re: MARAS credit check - what does it actually check?

I can't confirm/deny whether they saw all the running account data, but I can confirm they told me the Default existed. What breach would they have committed for searching for that information? Maybe passing it on to me was a breach but how would searching for it be a crime against the DPA if they had bona fide access to the CRA file?

Would likely be a breach of their data sharing agreement under SCOR I think, and hence the terms of their access to CRA data.

[PlanB]

Re: MARAS credit check - what does it actually check?

they wouldn't know the name. It's impossible for them to know it UNLESS the tenant told them.

That's exactly what I was about to post. The Letting Agent would have gone to the Tenant first and said they'd discovered a £4k debt with a Default on their CRA file and asked them for an explanation so they could prepare a story for the Landlord.

What I got was a call from the Agent to advise me that the Tenant had a Default for £4k owed to XYZ bank which happened when her husband left her with a joint account overdraft unpaid.

So maybe the Agent was indiscreet about naming the bank in question but that doesn't alter the fact that the Agent got the Default info (quite probably without the name of the lender) from the CRA since the Tenant would not be motivated to tell them that voluntarily would they?

[Riz]

Re: MARAS credit check - what does it actually check?

Still stands that they should not have got the default details from the CRA, named or not. They should either not be allowed to check that level of data, or if they have access for another reason should not be abusing that access to check that level of data for a tenant check.

Anyway, however it occurred or the information was obtained, that is a very bizarre exception and should not happen.