Best site to view my credit report??

DarkConvict

No, you cannot default it for friends because a friend is not a regulated creditor, neither do they have a lawfully binding agreement with the clause to report to the CRA. Unlicensed creditors are just loan sharks.
Although im sure unless it is a problematic area the authorities wouldn't consider it a true loan shark.

As to why they can register a default against you in absense of the agreement. Is quite simple. There is proof that money is owed and it was obtained via a regulated creditor. Therefore an agreement would be in place, regardless of if it is available to be viewed or not.
It has been ruled in the High court in 2009, they can place defaults in absense of the agreement. The only thing the lack of the agreement means is no court action can be granted.

MrsTinks

DarkConvict is spot on - they have every right to mark your credit file as defaulted - after all you did default... if you didn't default that's an entirely different matter altogether

auntiesue

Hi, new to all this but have just got copies of my credit report from experian and equifax. I thought that I read on here somewhere that current accounts with overdrafts will show up on the report but neither of the reports I have are showing mine. The bank is natwest if that makes a difference.

PNPSUKNET

DarkConvict wrote: »

No, you cannot default it for friends because a friend is not a regulated creditor, neither do they have a lawfully binding agreement with the clause to report to the CRA. Unlicensed creditors are just loan sharks.
Although im sure unless it is a problematic area the authorities wouldn't consider it a true loan shark.

As to why they can register a default against you in absense of the agreement. Is quite simple. There is proof that money is owed and it was obtained via a regulated creditor. Therefore an agreement would be in place, regardless of if it is available to be viewed or not.
It has been ruled in the High court in 2009, they can place defaults in absense of the agreement. The only thing the lack of the agreement means is no court action can be granted.

Thanks for backing me up

Sharon87

I foudn CallCredit easiest to understand. I got one for Experian - had slightly different details of credit searches. I couldn't get Equifax as I needed to send them ID, and I just couldn't be bothered with all that!

pipsi_2

auntiesue wrote: »

Hi, new to all this but have just got copies of my credit report from experian and equifax. I thought that I read on here somewhere that current accounts with overdrafts will show up on the report but neither of the reports I have are showing mine. The bank is natwest if that makes a difference.

i have a gradute account with RBS which has my student overdraft of near enough £1600. It is by far my biggest debt but doesn't show on either my Experian or Equifax credit reports. However i also have a Nationwide account that doesn't (and never has had) an overdraft but this account is listed on both reports. I don't understand this but it doesn't bother me as having an account hat has no credit facility and therefore shows me as being 'in credit' and owing nothing on my reports, is better than an overdraft of £1600 showing even though i've always been within my limit.

darkblue_2

DarkConvict wrote: »

No, you cannot default it for friends because a friend is not a regulated creditor, neither do they have a lawfully binding agreement with the clause to report to the CRA. Unlicensed creditors are just loan sharks.
Although im sure unless it is a problematic area the authorities wouldn't consider it a true loan shark.

As to why they can register a default against you in absense of the agreement. Is quite simple. There is proof that money is owed and it was obtained via a regulated creditor. Therefore an agreement would be in place, regardless of if it is available to be viewed or not.
It has been ruled in the High court in 2009, they can place defaults in absense of the agreement. The only thing the lack of the agreement means is no court action can be granted.

neither do they have a lawfully binding agreement with the clause to report to the CRA

PRECISELY

You completely missed the point. It was an anology but not meant to be taken literally. It's reference to a casual relationship as oppose to a contractual one, which is the case if they don't have a credit agreement.

If an organisation has no agreement with a client, any reporting to a credit reference agency would be breaching the data protection act, as they do not have permission to pass on details.

PNPSUKNET there is no need to 'back up'. It's a discussion, not Westminster.

I have a lifetime of experience in the debt collection industry and I don't come here to debate - I give advice. The advice is correct or else I wouldn't post it.

auntiesue

JamesJones wrote: »

Current account overdrafts are included on credit reports but, like any other credit product, only when the lender has your permission to share the data with the CRAs.

There are actually quite a few older accounts that were opened before c1999/2000 where permission was not obtained during account opening.

If you think this might be why your Natwest current account isn't showing on your credit reports you could try contacting Natwest now to give them your permission. This certainly works with some lenders.

James Jones




Thankyou for this. Account was opened in 1985/6 so maybe this is why.
Think I will pass on giving permission to show on report as seem to be stuck in my overdraft at the moment!