The Sub Prime Credit Thread - Part IV

never-in-doubt

wizzywig27 wrote: »

Anyone else got problems with JD Williams and Jacamo? I just logged in and they have reduced my credit limit from £500 to £150, luckily my balance is ony £194, which now means they want a payment of £44 - god knows what their beef is - it has happened to my Jacamo AND JD Williams account! They have kept my Fashion World one at £150!

I suspect a CIFAS or Nhunter thanks to Orange! Just checked Experian - nothing on there but cancelled Equifax yesterday, so could be something on there, as I did an in store varification process using them. Also they guy from Experian told me that JDW Group do not search them, or report to them anymore!

I placed on order on Wed which they cancelled! So annoyed, not missed a payment with em for 4 months (since I opened it)

JDW don't subscribe to the likes of N Hunter mate nor do they do monthly CAIS feeds - they report but that's about it.

However something has made them lower your limits, can only assume you've missed 3 payments in a row or have had a recent major change such as a default or CCJ added which would alert them. Late payments to other accounts (general CAIS/INSIGHT data) would not be reported.

My account is fine - see this (my wife really does have to stop buying junk! In 10 days it went from £0 to over £500 :eek:):

wizzywig27

never-in-doubt wrote: »

JDW don't subscribe to the likes of N Hunter mate nor do they do monthly CAIS feeds - they report but that's about it.

However something has made them lower your limits, can only assume you've missed 3 payments in a row or have had a recent major change such as a default or CCJ added which would alert them. Late payments to other accounts (general CAIS/INSIGHT data) would not be reported.

My account is fine - see this (my wife really does have to stop buying junk! In 10 days it went from £0 to over £500 :eek:):

God knows, all payments have been on time, covering the minimum balance! Not sure why they have done this, been paying ALL my credit accounts off, apart from the defaults which I have spoke about on here!

Not sure why a default would suddenly be registered :think:

I will ring em tomorrow see what their problem is, the way I feel at the mo they can shove their catalogue up their bottoms

alfred64

never-in-doubt wrote: »

See below and this useful thread - it will answer your questions (to your PM's mate): Credit Reference Agencies

Linked Addresses:
Lots of rumours about linked addresses keep flying around the forum, the truth of the matter is that there is no clear guidance for the period of retaining a linked address although 8 years seems to be the 'norm'.

The ICO stipulate that "A linked address may stay on your credit file as long as this information is relevant for credit referencing purposes." However, this was changed recently because it used to say "A linked address may be created when an account moves between addresses, such as when you move house, or when a lender checks your records at your previous address, or if you tell a credit reference agency about a previous or forwarding address. A linked address may stay on your credit file for 6 years after the link has been created."

So, to sum up, a linked address will be created when an account moves between addresses (such as when you move house); when a lender checks your records at your previous address or if you tell a CRA about a previous or forwarding address.

How long does the data remain?
The link will remain for a period of 6 years but no longer than 8 years. Each specific case is looked at by the CRA's between the 6 - 8 year period.

I have been at my present address for 6 yrs 1 m. My previous address for 5 yrs.
Yet not only are these two linked, but also the address before that - which I left 11+ years ago.

never-in-doubt

alfred64 wrote: »

I have been at my present address for 6 yrs 1 m. My previous address for 5 yrs.
Yet not only are these two linked, but also the address before that - which I left 11+ years ago.

Is the account still open from those addresses or closed for 6-8 years? If closed then contact the CRA's and they will remove the links - it is not automatic, you need to request it but you have to ensure there are no links (i.e. active accounts) dating back to the previous addresses for at least 6 years before they will consider it.

alfred64

All accounts that were open should have been settled by the trustee appointed by the official receiver when I was made bankrupt in June 2002.

The fact that the linked addresses continues is somewhat puzzling. I shall contact the cra's now I am more informed from your posts. Thank You.

never-in-doubt

alfred64 wrote: »

All accounts that were open should have been settled by the trustee appointed by the official receiver when I was made bankrupt in June 2002.

The fact that the linked addresses continues is somewhat puzzling. I shall contact the cra's now I am more informed from your posts. Thank You.

Ahh ok then, if it was 2002 and your previous address then they should be off no later than 8 years so depends when in 2002 then the same date in 2010 will show them gone.

However i'd send a message and get the CRA's to manually remove them - they may refuse in which case just remind them of the ICO's guidance which states no longer than 8 years (for a closed/settled account).

noah271007

who susbcribe to the likes of N Hunter? Big banks? Tesco/sainsburys?

never-in-doubt

noah271007 wrote: »

who susbcribe to the likes of N Hunter? Big banks? Tesco/sainsburys?

N Hunter is a division and a program built into Experian Systems; however lenders pay for it, Experian offer several business packages and the main lenders pay for a full one (including CAIS) but the smaller lenders (JDW being one) will pay for the minimal service which is basically adverse alerting and a basic search (much cheaper)....

To give you an idea, it costs a lender around £6 per application to search - JDW will pay around £2 per application for the base package which is literally to confirm identity and to rule out adverse credit. It doesn;t go into detail.

Also, people that use Equifax (i.e. Sygma etc) do not use N Hunter as it belongs to Experian and runs alongside their systems. But people like Barclays use it on occasion and have a direct SLA due to the sheer size of the bank in question.

kilasuit

wrote:

14. Personal information
Personal information that we collect
14.1 Your “personal information” is the information about you that Lloyds Banking Group companies get from you and others
in various ways, including for example:
(a) in applications, emails and letters, during telephone calls and conversations in branch, when registering for services,
in customer surveys, when you participate in competitions and promotions, through Lloyds Banking Group company
websites and during financial reviews and interviews;
(b) from analysis (for example, the amount, frequency, location, origin and recipient) of your payments and other
transactions, and your use of services involving other Lloyds Banking Group companies and what they know from
operating your accounts; and
(c) information Lloyds Banking Group companies receive from each other and from other organisations such as credit
reference agencies and fraud prevention agencies.
14.2 You must not give Lloyds Banking Group companies personal information about someone else (such as a joint applicant)
without first getting his or her consent for it to be used and disclosed in the ways described in this condition. This is
because the Lloyds Banking Group company will assume he or she has consented, although the Lloyds Banking Group
company may still ask for confirmation. Where you do give a Lloyds Banking Group company information about someone
else, or someone else discloses a connection with you, that information may be taken into account with your other
personal information.
How Lloyds Banking Group companies use your personal information
14.3 Lloyds Banking Group companies may store and use your personal information for:
(a) providing you with products and services and notifying you about either important changes or developments to the
features and operation of those products and services;
(b) updating, consolidating and improving the accuracy of our records;
(c) crime detection, prevention and prosecution;
(d) responding to your inquiries and complaints;
(e) administering offers, competitions and promotions;
(f) evaluating the effectiveness of marketing and for market research, training, statistical analysis and customer
modelling with the aim of improving services;
(g) assessing lending and insurance risks across the Lloyds Banking Group;
(h) identifying products and services which we believe may be of interest to you;
(i) managing your relationship with Lloyds Banking Group companies, and in the other ways described below.
Lloyds Banking Group companies may, from time to time, provide further details about how your personal information
may be used.
14.4 If you have agreed, we and other Lloyds Banking Group companies may also contact you about products and services
available from Lloyds Banking Group companies, and from selected companies outside the group, which we believe may
interest you or benefit you financially. You may tell us at any time if you change your mind.
14.5 Lloyds Banking Group companies will treat your personal information as private and confidential, but may share it with
each other and disclose it outside the Lloyds Banking Group if:
(a) allowed by this agreement;
(b) you consent;
(c) needed by Lloyds Banking Group companies’ agents, advisors or others involved in running accounts and services for
you or collecting what you owe Lloyds Banking Group companies;
(d) HM Revenue & Customs or other authorities require it;
(e) the law or the public interest permits or requires it; or
(f) required by Lloyds Banking Group companies or others to investigate or prevent crime.

Would That mean that Halifax can access the data on my Lloyds Account even when its not mentioned on my Credit Reports?

Taken from http://www.lloydstsb.com/media/lloydstsb2004/pdfs/cra.pdf

Zack1

STAN JAMES (GIBRALTER)-192BUSINE , a Third party company, has made an inquiry against your credit report on 29/01/2010 . If you were not aware of or did not consent to this search, contact STAN JAMES (GIBRALTER)-192BUSINE or Equifax for clarification.

BANK OF CYPRUS , a Bank company, has made an inquiry against your credit report on 03/02/2010 . If you were not aware of or did not consent to this search, contact BANK OF CYPRUS or Equifax for clarification.

As they are both worded the same I assume they both are full searches....in which case, I didn't give those stan james clowns permission to search me! Well it might be hidden in the T&Cs under paragraph 5 subsection 4.7, but as I'm not applying for any kind of credit, and all bets have to be placed with cleared funds, !!!!!!!?