Petition to No.10 Downing Street

never-in-doubt

After 3 years

cosmic_girl wrote: »

I may be wrong, but I am sure I have read somewhere that consumer debt is not nearly as bad (in general) in the rest of Europe compared to the UK? That being the case, they are obviously doing something better than us.

I don't understand how 3 years would aid fraudsters. Surely if someone is going to commit fraud against you, they will manage regardless of whether files are held for 3 or 6.

Also, the fact that the majority of companies only require 2 or 3 years credit history anyway, I don't see how a move like this could pose and problems for the financial system. Lots of people on here say that anything past the 3 year point doesn't really count as much if you have good history for the most recent years, so what difference would it make if it wasn't on your file? x

I think this move would just give people the opportunity to move on from a difficult time in their life quicker x

Exactly, you've hit the nail on the head! :T

never-in-doubt

After 3 years

ElkyElky wrote: »

I wouldn't mind having positive data kept on my file for 6 years and the negative wiped off within 3. :j

LOL trust you haha

Seriously, why though cos after 3yrs a lot could happen so it'd make sense stick to 3yrs. What I mean is 3yrs ago I earned half what I do now, so why would I want things that are sooooooooo out of date appearing? Its bonkers mate! :beer:

cosmic_girl

After 3 years

never-in-doubt wrote: »

Exactly, you've hit the nail on the head! :T

Glad you agree, lol! :beer: x

davethorp

Personally I think they should shut the CRAs down as they are not fit for purpose and process information based on little more than gossip and hearsay without verifying it

never-in-doubt

After 3 years

davethorp wrote: »

Personally I think they should shut the CRAs down as they are not fit for purpose and process information based on little more than gossip and hearsay without verifying it

haha - now that I do agree with! Who'd have thought all those moons ago when GUS started up a collection and data storage element to their catalogues that Experian would be formed, i.e. the worlds most hated and unlawful company....

I wonder to myself who is more crooked, the !!!!! or the CRA's so i'll start a poll to see what people think haha :beer:

ElkyElky

After 3 years

never-in-doubt wrote: »

LOL trust you haha

Seriously, why though cos after 3yrs a lot could happen so it'd make sense stick to 3yrs. What I mean is 3yrs ago I earned half what I do now, so why would I want things that are sooooooooo out of date appearing? Its bonkers mate! :beer:

Yeah. 6 years is a long time to wait for negative data to drop off. I can't see them changing it to be honest. Especially if Britain has the most debt in all of europe (correct me if I'm wrong?).

never-in-doubt

After 3 years

Look lol: http://forums.moneysavingexpert.com/showthread.html?p=23616919#post23616919

Remember to vota correctly now chaps & chapesses

never-in-doubt

After 3 years

ElkyElky wrote: »

Yeah. 6 years is a long time to wait for negative data to drop off. I can't see them changing it to be honest. Especially if Britain has the most debt in all of europe (correct me if I'm wrong?).

It is changing mate, they are dealing with it now - it should go through in the next year or two - we will soon be 3yrs but right now the [STRIKE][EMAIL="w@nkers"]w@nkers[/EMAIL][/STRIKE] bankers and CRA's are putting up a fight but they will succumb, they simply have to!

Watch this space, in the near future when we align with cross continent credit sharing we will then join the norm and become 3yrs reporting history at CRA's.

cosmic_girl

After 3 years

Maybe things will start to change though, what with the current financial climate and ever increasing redundancies.

I often wonder if people will start to make a stand against the dubious practices of some financial institutions. At the end of the day, in my humble opinion, the banks and their greedy, unscrupulous actions have had an awful lot to do with the current financial climate (rather than them blaming things on consumers) and the ultimate financial downfall of many people in Britain.

If the media are correct that many more thousands of people are going to be defaulting on mortgages and credit agreements, I suspect that a lot of people would welcome the idea of being able to sort out their finances and life over a shorter time period such as 3 years x

cosmic_girl

After 3 years

I think banks need to remember that it was us taxpayers that kept them all in jobs too, so perhaps they should start listening to the consumers wishes for a change rather than being all high and mighty and acting outwith the law x