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  • Checkng for 'previous debtor'markers

    Has anybody ever requested a SAR from a creditor where the debt is SB and Default annulled?

    Most financial systems delete records after 7 years of the last activity. The cost of maintaining, archiving records, and recalling archived records is high. So will past creditors keep and check details or have they a bad debtors list they keep forever?

  • #2
    Re: Checkng for 'previous debtor'markers

    All banks retain data for 6 years since expiration of last account activity. So if they were reporting a default, they'd still have your data on their systems for 6 further years AFTER the default drops off your CRA.

    That said, it's rare they'll offset if they've given you full account access such as overdraft etc.

    Point being, I have 3 defaults with BOS but after 3 years opened a Halifax & Lloyds and am CPD on both I believe.

    Its all relative - risk costs money so saving delinquent customer data is the norm now as it's cheaper to risk assess under existing records.
    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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    • #3
      Re: Checkng for 'previous debtor'markers

      In my norm it was 7 years as end of year/tax/financial reports would require 7 to ensure 6. So yes, it does make sense that the records are kept for 6 years after the year in which the last activity took place.

      Has anybody ever done a SAR on an extinguished account? I can't as I have no accounts old enough.


      What is CPD? Crafty potential defaulter?

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      • #4
        Re: Checkng for 'previous debtor'markers

        CPD is credit policy decline (ie internal blacklist) - used within LBG companies.
        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

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