Petition to No.10 Downing Street

never-in-doubt

After 3 years

cosmic_girl wrote: »

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

You're right but it won't matter cos we're about to embark on cross continent credit sharing which opens a whole new light in respect of Data Retention and Protection. i.e. Can you imagine that Iraq has the same DPA laws as the UK and what about the US? Things have to be aligned so there will be lots of changes! :eek:

Plus, excluding the few priceless people out there, the majority of the UK do want to see the CRA's sorted out - like I say, 6yrs is ridiculous and not a true reflection of anyones financial worthiness. In 6yrs I could go from being a spotty student on £10 per week to a top Barrister on £100k + per annum..... It makes no sense and is utterly unreliable and Europe have already said we will change to fall in line.

ElkyElky

After 3 years

lol I said it before and will say it again. I think we should all, as a nation, abandon banks completely and deposit our money under our matresses.

never-in-doubt

After 3 years

ElkyElky wrote: »

lol I said it before and will say it again. I think we should all, as a nation, abandon banks completely and deposit our money under our matresses.

Not if you live in Raploch or the Gorbals matey :beer:

cosmic_girl

After 3 years

never-in-doubt wrote: »

You're right but it won't matter cos we're about to embark on cross continent credit sharing which opens a whole new light in respect of Data Retention and Protection. i.e. Can you imagine that Iraq has the same DPA laws as the UK and what about the US? Things have to be aligned so there will be lots of changes! :eek:

Plus, excluding the few priceless people out there, the majority of the UK do want to see the CRA's sorted out - like I say, 6yrs is ridiculous and not a true reflection of anyones financial worthiness. In 6yrs I could go from being a spotty student on £10 per week to a top Barrister on £100k + per annum..... It makes no sense and is utterly unreliable and Europe have already said we will change to fall in line.

So we are already in line to change to 3 years then? That can only be a good thing, I think. Do credit reference agencies not share info from country to country then? I thought the likes of Experian and Equifax were multi-national? Is this a good or a bad thing? x

97trophy

After 6 yeards

cosmic_girl wrote: »

I think banks need to remember that it was us taxpayers that kept them all in jobs too,

Be fair, hsbc, barclays and santander have not taken any taxpayer money, so they have every right to carry on as normal.

never-in-doubt

After 3 years

97trophy wrote: »

Be fair, hsbc, barclays and santander have not taken any taxpayer money, so they have every right to carry on as normal.

Yes but you define it as 'normal' - I'm pointing out it may be normal to them but to me it is 'unlawful' and the EU take that exact approach. As such 3 years is suffice.

never-in-doubt

After 3 years

Gorgeous_George wrote: »

They can hold my data for 100 years. I have nothing to hide.

I'm happy to carry an ID card.

I don't pay bank charges.

If it wasn't for the clubcard deals, I think I'd be over on HPC.

GG

I have nothing to hide either but then again, I'd rather not live in a communist state and will not support I.D cards and neither do I support my personal (note the key word here - PERSONAL) data being sold to the highest bidder. That is the reason we have so much fraud cos too many people want to ship our personal details between companies - get real lenders, you cannot do this! :mad: :mad: :mad:

cosmic_girl

After 3 years

97trophy wrote: »

Be fair, hsbc, barclays and santander have not taken any taxpayer money, so they have every right to carry on as normal.

I know that not every bank got help, but of the ones that did ........ sorry I shouldn't have generalised but I think they still got caught up in the ridiculous over lending practices which have taken place over recent years. All banks were obviously happy to take advantage of customer business when times were good, but from reading on here and things in the press are not that apt to be understanding to the plight of folks that are in difficulty now x

never-in-doubt

After 3 years

News

Limitations consultation imminent - 08/06/2009

The Ministry of Justice last week met representatives from the debt collection industry to discuss proposals to change the statute of limitations for civil debt.

A consultation is to be released this week on government plans to change the time civil debts can be chased from six years to three. The Credit Services Association, which represents debt collectors, is concerned that the transition to a new system could have an adverse effect on debtors, the industry and the courts.

Sara de Tute, compliance director for the CSA, said the organisation will gather views from members before responding to the consultation. "We were given a quick look at the document and it is quite debt collection and debt purchaser focused," she said. "It is likely we will oppose the cut."

If the proposal is enacted and implemented, the industry will have concerns about the transition. "At the moment we don’t know when it would come in and how it would be phased in – whether there would be transitional provisions or whether it would be retrospective," said de Tute.

Industry commentators expressed confusion over government aims, saying the MoJ’s proposal would encourage earlier litigation while the Department for Business Enterprise and Regulatory Reform is actively encouraging creditors and collectors to allow debtors breathing space.

One debt buyer said cases would almost certainly be advanced and the MoJ runs the risk of creditors litigating on tens of thousands of cases overnight. He added that creditors and debt buyers would be forced to litigate against ‘gone aways’ using the last address – obtaining judgment by default. "We need to make sure we have enough transition time, otherwise we’ll have to sue 50,000 people the day they make the change."

De Tute added that a disorderly transition would place great strain on the courts system. "I don’t think the courts could cope with it," she said.

The consultation is due to be out later this week and will run until the end of July.


Taken from CAG - Here

cosmic_girl

After 3 years

Thats funny, was just reading CAG. De Tute is the head of Wescot ......... she would say that! Was it not her company that bullied a poor woman to the point of suicide for a debt that wasn't hers???? x