Credit Reference Agencies

hax_2

Wow what a goldmine of information - thanks NID.

CRAs are USELESS when it comes to default removal, even if you supply them with evidence they say "the lender says the data is correct" and to contact the lender directly.

Although when it comes to searches, like you said NID, they do remove them if queried. I had a DCA credit search for a statute barred debt on my Equifax file. So I queried it with them using the statute barred letter template, and they sent it to the DCA but the DCA didn't even respond so Equifax removed it after 28 days. I was surprised Equifax did this, as I had a bad experience with them when getting defaults removed. They even gave me a free online statutory credit report with the search entry removed (after paying for the first one, of course). Maybe because that's what I'm entitled to under the Data Protection Act.

never-in-doubt

hax wrote: »

Wow what a goldmine of information - thanks NID.

CRAs are USELESS when it comes to default removal, even if you supply them with evidence they say "the lender says the data is correct" and to contact the lender directly.

Although when it comes to searches, like you said NID, they do remove them if queried. I had a DCA credit search for a statute barred debt on my Equifax file. So I queried it with them using the statute barred letter template, and they sent it to the DCA but the DCA didn't even respond so Equifax removed it after 28 days. I was surprised Equifax did this, as I had a bad experience with them when getting defaults removed. They even gave me a free online statutory credit report with the search entry removed (after paying for the first one, of course). Maybe because that's what I'm entitled to under the Data Protection Act.

Yes mate, exactly. If they make a significant change in your favour you are entitled to a free update of the same report (usually it is a new report altogether though).....

The CRA's are data processors meaning they are liable to held to Libel charges if they knowingly sell your data whilst in query with them. Usually, if you go to the CRA and query an entry, they will contact the lender and remove it whilst they await the outcome.

This method is handy if you need to apply for say a mortgage - get the CRA to remove the defaults prior to you suing for Libel and that gives you a month with an empty report to go apply for a mortgage lol

hax_2

Do they actually remove the data for that one month? I thought they put a notice of correction instead?

never-in-doubt

hax wrote: »

Do they actually remove the data for that one month? I thought they put a notice of correction instead?

Depends on the letter and wording of the letter you send them :rolleyes:

I got mine erased totally, for 28 days.

never-in-doubt

Shameless Bump :eek: :eek:

Joeler

Really useful info cheers :beer:

Inforapennyinforapound

A quickie please for 'never-in doubt' who seems a font of knowledge.

Just been refused a loan with Santander due to Experian report.

The reason was an old £92.00 Gas bill which i disputed in 2007 and eventually paid to a debt collection agency.

I was told it stays for 6 years on the record.

Ok fair enough but i am a person in full time job,with a mortgage (never defaulted) and no loans and plenty of cash in Isa's...you get the picture.
I am a good risk....plus my accounts are all with Alliance & leics so they can easily check.

I am totally befuddled.So for a measly ex-debt of £92.00 i am refused.

Any steps i can take please?

izools

How old is the default? When was it registered? Does it show as satisfied? What company name is it in, the gas company or the DCAs?

Inforapennyinforapound

izools wrote: »

How old is the default? When was it registered? Does it show as satisfied? What company name is it in, the gas company or the DCAs?

All i was told on the phone by Santander is that it shows as August 2007 and confirmation that it has been paid.

So it seems that jobsworths being jobsworths have to apply the rules without considering the why's and wherefore's and your personal good record.

Im a bit miffed really with Alliance&Leicester/Santander.......Just to add that i recently applied to update my A&L current a/c to a Premier Direct one and have been refused a Santander Credit Card(although i have an MBNA one already).Must be all connected.

never-in-doubt

A default will affect you for 6 years afterwhich it drops off.

As you disputed it and then agreed repayment, you'd be best sendign an official complaint to British Gas and ask them to remove it or you will seek legal action being the account was disputed and you had no reason not to pay, especially for such a piddly amount.

BG are sometimes quite good, ive seen them remove a lot of smaller defaults that were appealed.

Try your luck - its really up to British Gas though, only they can remove it. I'd be mentioning things like the official default notice was never received and nor was a notice of intended action allowing you 14 to days to pay - explain that if you'd received such a letter you'd have paid and still appealed.

Santander is not linked - but the default will be the underlying factor for the decline.