Credit Rating: How it works and How to improve it discussion area

izools

Officially yes. I'm on my third. I provide the details of a full auth visa debit card, empty the account before they go to take the fee, let the subscription auto cancel after 14 days, then I can sign up to the free trial again

never-in-doubt

You do this even though Experian link the free trial to your name and address therefore realising that you've already had one?

Seems to me you're either bloody lucky or a blatant liar! One or the other!

izools

I was referring to Equifax not Experian. You can't do this with Experian.

With Equifax, once they have verified your ID they create a profile. If they can't take the subscription fees for the Free Trial after 30 days, the subscription cancels 14 days after that. Your login still works, and the profile still exists, but there aren't any products on the profile per-se'

You can then order any of their produts agian, like the free credit watch trial or a credit report or whatever, same details same membership, but new subscription to that product. Try it one day, you'll see (if you have Equifax credit watch, that is).

Experian don't have the same flaw

never-in-doubt

izools wrote: »

I did not refer to test cases, law, or anything like that.

I did - I never said you did I am saying as a result of this things have changed..... :rolleyes:

izools wrote: »

I referred to the FACT that in MY case, I DID threaten my creditors with action under the DPA due to incorrect default dates, and Halifax, Barclaycard, and RBS, removed their defaults instead of ammending the dates.

Yes, I agree this can on occasion occur but then the OC is well within their rights to add the default again at any time they see fit until the official 6 year drop-off. The fact they have removed it means nothing, if there was a balance then it is still owed, if there is no blanace then you're still a risk. FACT.

Do you even know what section of the DPA you argued? I doubt it... for the avoidance of doubt, if someone was to do this then they would quote the following:

87 Need for default notice

(1) Service of a notice on the debtor or hirer in accordance with section 88 (a “default notice”) is necessary before the creditor or owner can become entitled, by reason of any breach by the debtor or hirer of a regulated agreement,

(a) to terminate the agreement, or
(b) to demand earlier payment of any sum, or
(c) to recover possession of any goods or land, or
(d) to treat any right conferred on the debtor or hirer by the agreement as terminated, restricted or deferred, or
(e) to enforce any security.

(2) Subsection (1) does not prevent the creditor from treating the right to draw upon any credit as restricted or deferred, and taking such steps as may be necessary to make the restriction or deferment effective.

(3) The doing of an act by which a floating charge becomes fixed is not enforcement of a security.

(4) Regulations may provide that subsection (1) is not to apply to agreements described by the regulations.

88 Contents and effect of default notice

(1) The default notice must be in the prescribed form and specify

(a) the nature of the alleged breach;
(b) if the breach is capable of remedy, what action is required to remedy it and the date before which that action is to be taken;
(c) if the breach is not capable of remedy, the sum (if any) required to be paid as compensation for the breach, and the date before which it is to be paid.

(2) A date specified under subsection (1) must not be less than seven days after the date of service of the default notice, and the creditor or owner shall not take action such as is mentioned in section 87(1) before the date so specified or (if no requirement is made under subsection (1)) before those seven days have elapsed.

(3) The default notice must not treat as a breach failure to comply with a provision of the agreement which becomes operative only on breach of some other provision, but if the breach of that other provision is not duly remedied or compensation demanded under subsection (1) is not duly paid, or (where no requirement is made under subsection (1)) if the seven days mentioned in subsection (2) have elapsed, the creditor or owner may treat the failure as a breach and section 87(1) shall not apply to it.

(4) The default notice must contain information in the prescribed terms about the consequences of failure to comply with it.

(5) A default notice making a requirement under subsection (1) may include a provision for the taking of action such as is mentioned in section 87(1) at any time after the restriction imposed by subsection (2) will cease, together with a statement that the provision will be ineffective if the breach is duly remedied or the compensation duly paid.

Subsequently, s.87(1) of the CCA1974 clearly states that a default notice must be served before the creditor or owner can become entitled, by reason of any breach by the debtor. As they have failed to, and continually ignore my request to, send a default notice to me then they are in clear breach.

izools wrote: »

I don't care whether it satisfied the rules - all I know is that it happened, and I am sharing my experiences.

But all I done was corrected you, i.e. things have changed since the obvious mistakes made by your three lenders!

izools wrote: »

Now why don't you trot along

Eh? Public Forum

izools wrote: »

I impied that as they were partially satisfied I was at no risk of being persued for the debt if I threatened them. It's there in black and white. You my friend, are wrong and we both know it.

You are at full risk of being pursued for the debt if there is a balance regardless of whether there is a default notice or not! That is until such time as Limitations Act would kick in, i.e. 6 years from date of last payment to the account.

As I say, I do not need to try and make you out to be anything, but you do need to chill out a little cos you're annoyingly thick at times and you miss the point of constructive criticism....

never-in-doubt

izools wrote: »

I was referring to Equifax not Experian. You can't do this with Experian.

With Equifax, once they have verified your ID they create a profile. If they can't take the subscription fees for the Free Trial after 30 days, the subscription cancels 14 days after that. Your login still works, and the profile still exists, but there aren't any products on the profile per-se'

You can then order any of their produts agian, like the free credit watch trial or a credit report or whatever, same details same membership, but new subscription to that product. Try it one day, you'll see (if you have Equifax credit watch, that is).

Experian don't have the same flaw

Yep - I agree as similar happened with me last year, I deliberately used an older card and let it expire. They then let me apply again and use a new card as a new customer.

I got the free month again. I think CallCredit also operate in similar fashion....

izools

never-in-doubt wrote:

But all I done was corrected you, i.e. things have changed since the obvious mistakes made by your three lenders!

Really? This only happened last June.

never-in-doubt wrote:

You are at full risk of being pursued for the debt if there is a balance regardless of whether there is a default notice or not! That is until such time as Limitations Act would kick in, i.e. 6 years from date of last payment to the account.

I'm aware of that, which is why I pointed out that in my case the defaults are partially satisfied. I.e. have a NIL balance and nothing owing but the settlement was for less than the amount owing at the time.

never-in-doubt wrote:

As I say, I do not need to try and make you out to be anything, but you do need to chill out a little cos you're annoyingly thick at times and you miss the point of constructive criticism....

Contructive criticism is well appreciated, but in this instance you totally mis read my post. You assumed that I meant "No Risk" was to other creditors despite my referring to the "no Risk" element in the context of the debtor being at risk of initiating collection proceedings after things have been quiet for a while. Criticizing a mistake that has not been made is not constructive.

never-in-doubt wrote:

But all I done was corrected you, i.e. things have changed since the obvious mistakes made by your three lenders!

How can you correct me? I shared an experience I had by stating what happened to me in simple factual terms. By your own admission, it was my creditors that made the mistake. How can I have been mistaken in relaying statements of facts pertaining to my personal experiences, when the mistake(s) that were made, were by my creditors? My re-iterating mistakes made by third parties does not constitute my making a mistake.

It would seem self evident to anyone with a modicum of skill in the field of verbal reasoning, that the only mistakes to be corrected, were Halifax's, RBS', and Barclaycard's, not mine.

Once I pointed out your fallacy, you immediately chose to change what part of my posts you were trying to correct instead of apologising for tearing my post apart because of your misinterpretation of what I wrote.

You could have taken the moral high ground and apologised for making me out to be giving bad advice when all that happened was I shared an experience with fellow members and you didn't read my posts properly. But then again, you are annoyingly thick at times.

scottish-girl_2

Hey

I have tried to get a car on finance, they said no, so i tried this about 2 other times and they said no because of my credit rateing. I even went to my bank that i have been with for 10years to get a credit card and they said no because my crediti rateing. So i went and got a catalog and used that and been paying it back each month. i applied for a holiday card and they said my rateing was not high enough. How am i ment to get a high credit rateing to get stuff?? i am not in debt a dont have any credit cards so can any one help

never-in-doubt

izools wrote: »

You could have taken the moral high ground and apologised for making me out to be giving bad advice when all that happened was I shared an experience with fellow members and you didn't read my posts properly. But then again, you are annoyingly thick at times.

I'm sorry mate :kisses3:

p.s. we're all annoyingly thick {at times}

deefadog

Quote:
Originally Posted by Kandipandi
I got my report last October from equifax and cancelled straight away, how long is it before I can request another free trial?

You can't. Officially only 1 free trial per customer.

I read that you can do the free trial every 12 months?

JillyOJolly

Hi,

Looking for some advice. In August 2009 I finished paying off every debt I owed through Payplan. I am collecting credit reports (still awaiting my experian one through the post), but I did get one online from CallCredit Check which has been very informative.

I did pay off a catalogue after they defaulted it and sent it through to their DCA and it took 3 years to pay off. I never once missed a payment (via direct debit) and I had a nice letter in August to say I had paid my last payment. however, it shows a great fat black D right the way through to the £0 balance. I did have MBNA and others which have a nice shiny blue S, for settled, but I dont understand why they have done this for the catalogue debt. It does say account Satisfied in the status. If I paid on time at the rate the DCA company wanted me to 3 years ago why did it still say "default" on the account. Am I in a position to get this removed? I had 6 creditors altogether, now all closed for 6 months and paid in full, no partial settlements, any ideas on how to improve things quickly?

Also Barclaycard still have the status as "normal" does this mean the account is not "Satsified"? I did get a letter from them confirming they had closed the account.

My score at present is 574. I did move around a lot so intend to stay where I am for a while, I am on the electoral role (although this is the channel islands so does it count the same?).

Sorry one more question - what does "unclassified" mean on your status history and is this a negative or a neutral status.

Thanks for any advice.

JOJ