Retract permission to report to credit reference agency?

hicskis

Thin ice - the courts have already ruled that the lack of a signed copy of the agreement does not mean that an agreement was in fact in place - therefore people could not claim that the lack of a copy of the written agreement made the contract or collection of monies under it unenforceable. A few companies that were trying this line of argument went bust recently when they lost this argument in the courts.

And this is the same idea just wrapped up in other tissue paper....

hicskis

But this goes back to what i've been saying :

Which is that financial institutions have a duty to report a true and accurate position of your credit history with the firm with the CRA's, and this document from the ICO reinforces that - the contract term that says that they MAY report data about your borrowings is an Unfair Contract Term.

However - if there is a genuine mistake by the bank then you can repair your credit file for sure.

This also means that a win in the courts would result in a repair of the credit file.

However caution must be exercised because if you allow the account to default then they will be able to accuratly report that fact, so even though you may win in court at a later date, you may still have an adverse credit file ( a default registered against you) - unless the mistake by the bank was what had caused the default - unlikely as you are given plenty of opportunity to avoid default in the first place (warning letters).

It is always best to pay the money DEMANDED (even if disputed) to put yourself in the right - then fight for what you are owed.