Postive sharing of information

thecooler

Hi,

While I was at university I exceeded my overdraft limit with First Direct and was unable to bring it back down to its limit, I also had a credit card which was within its limit.

They said if I couldnt reduce the overdraft I could put the 2 amounts together cancel my current account and pay back what I owed in monthly installments, which Ive been doing for over a year. They also agreed that if I did this they would not record my debt and the cancellation of my current account with experian etc.

However, this week I was alerted by experian when the first direct 'account' was added to my report.

I contacted First Direct who said this was because of a new 'positive sharing of information' they and other banks had started doing.

The payments I had made to that account could not be retrospectively added to my credit report even thought the account was and because I hadnt given my consent that my information could be shared with credit agencies the account was showing a for undisclosed where the uptodate payments etc are recorded.

So I gave them consent so that future payments could be included but it has still damaged my rating.

I was also wondering what effect the fact the account was detailed as being a year and a half old while showing no history of repayments would have.

Cheers