Strange goings on on credit file

noah271007

never-in-doubt wrote: »

Haha come on mate, when am I not right when it comes to CRA's? :rotfl:

seriously though, I got told this by Lee Hancock (Experian) in an email when I moaned about it and he kinda let slip :think: he pretty much said that after 3yrs the data will not be used. Also, know about Nationwide and A&L cos its known they are tight in giving accounts and therefore they must go back 6yrs.....

Glad you confirmed it was NW that rejected you, it does add up with what i'm saying then

Hmmm... did he really said that? Maybe he is referring to the payment history Experian up to 36 months? What about settled accounts that have late payments?
I am sceptical of your claims to be honest mate!

never-in-doubt

noah271007 wrote: »

Hmmm... did he really said that? Maybe he is referring to the payment history Equifax keeps up to 36 months? What about settled accounts that have late payments?
I am sceptical of your claims to be honest mate!

Yes mate he said it. why be sceptical without anything to come at with me? :beer:

noah271007

So basically CRA's (as they are bookeepers) keep data collected from lenders up to 6 years....but with lenders credit search and credit scoring they usually search up to 3 years from any CRA's?

noah271007

never-in-doubt wrote: »

Exactly mate - I never added it either! It was them that done it regards to court data - basically says 'equifax cannot confirm if court data is settled or failed' LOL

Nowt to do with me mate - but i'll sue em, maybe :eek:

I mean i'll be looking for enforceability to remove via county courts....

You ought to sue them as it breaches DPA. Have you complained to the ICO? I know they are useless like FOS but surely in your case, it is all black and white?

never-in-doubt

noah271007 wrote: »

So basically CRA's (as they are bookeepers) keep data collected from lenders up to 6 years....but with lenders credit search and credit scoring they usually search up to 3 years from any CRA's?

Pretty much, you can't rule out that they will check back 6yrs but usually this is only relevant when things go to underwriting for manual review. The automated systems of 'most' lenders will check the last year, if all ok they move on. If not, they check the past 3yrs. If it fails this they refer to underwriting.

By the way, the above is automated and takes a split second to pass each process before submitting a accept/decline/refer status.

Hope that helps explain a bit better mate.

The exception to the above is A&L & NW as they are known to search 6yrs as standard if the CRA has data that long. These two are also the main subscribers to cifas and N Hunter. What this means is each application is sent via N Hunter & Cifas register to scan for inconsistencies.... high liklihood of a cifas appearing when you apply to these lenders if you move house a lot. Obviously why!

noah271007

never-in-doubt wrote: »

Pretty much, you can't rule out that they will check back 6yrs but usually this is only relevant when things go to underwriting for manual review. The automated systems of 'most' lenders will check the last year, if all ok they move on. If not, they check the past 3yrs. If it fails this they refer to underwriting.

By the way, the above is automated and takes a split second to pass each process before submitting a accept/decline/refer status.

Hope that helps explain a bit better mate.

The exception to the above is A&L & NW as they are known to search 6yrs as standard if the CRA has data that long. These two are also the main subscribers to cifas and N Hunter. What this means is each application is sent via N Hunter & Cifas register to scan for inconsistencies.... high liklihood of a cifas appearing when you apply to these lenders if you move house a lot. Obviously why!

That is so fascinating...THANK YOU. I presume defaults are an exception just like public data

never-in-doubt

noah271007 wrote: »

That is so fascinating...THANK YOU. I presume defaults are an exception just like public data

yes mate well anything bad will auto reject on mainstream cards, but old payment data may not. thats what i'm trying to say. Note I said 'may'.

Regards to the exception, I mean these are exceptions to the score on that element. A default would be an instant refer - not decline. The part above about payment data forms part of the overall credit score. get me?

Hope that helps explain the system.... now you see why i'm half clued up cos all these little things add up and create a pattern. The pattern evolving to me is a huge fraud ring whereby if the CRA asks, the lender will tell them whatever they want without authority and worse than that also. Put it this way, my SAR is laughable.

Equifax went to my ex wifes mobile contract (vodafone) and asked them if I was ever linked and had an account with them. Voda replied and Equifax asked them to check this address and that address for abnormalities. Its fascinating and highly illegal.

LOL - my case against them is huge.

noah271007

I previously thought automated systems when applying for credit will pick up any adverse data from a particular CRA's credit files - meaning going back 6 years or more. If all is good and clear, then application is accepted. If not or spotted something adverse, then it is checked and dealt with manually.

I guess not many people have a spotless credit files....

It does looks very unethical how CRA's and lenders can process and use people's data. I bet they will say we "agreed" to it because it is all in the terms and conditions when applying for credit. If this come out in the open, there would be an outrage just like MP expenses!

kilasuit

hmmm i did wonder why the "fountain of knowledge" was so immense.

So basically in this day and age as soon as you have any sort of financial life your constantly getting screwed over by anyone and everyone for anything and everything.

so in therory if requested any financially involved establishment could be asked to give the CRAs almost any data that they require e.g. exact spending patterns on bank accounts, mobile phone contracts, CCs etc etc

seems like theres a fair few cases of mis-justice that could come from this.

Well done on persevering on this matter.

We all have a specialist subject for on mastermind and this seems to be yours

noah271007

Have a look at this.

http://www.dailymail.co.uk/news/article-1182926/Taxman-use-database-ID-cards-track-spending-habits-bank-accounts.html