Checkng for 'previous debtor'markers

[Never-In-Doubt]

Re: Checkng for 'previous debtor'markers

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

[julian]

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?

[Never-In-Doubt]

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.

[julian]

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?