CCA Question - MBNA and Credit History

incesticde

Hi folks,

Did a search to find an answer to my question but couldn't find Never-In-doubt's latest 'Unenforceability & Template Letters' thread, so I've created a new thread.

My question/scenario is this : If I was to ask MBNA for a copy of my CCA for an old (now settled/closed) account ,and they could not provide one, then could I get them to remove my credit history details from Experian et al?

I remember reading somewhere that if the CCA is not provided they can not record data against you (Data Protection Act?) but can't find that source now.

I'm not looking to avoid debt or anything, I have paid and closed this account. However I have missed payments (a 1-5 following a mix up about my DD details) from five years ago that I would like removing from my report, as I closed the account in 2008 this means that these details will remain on my credit report until 2014!!

Thanks for taking the time to read this

Cheers

Incesticide

izools

Precedent has been set by RBS that an unenforceable credit agreement can't have any debt collected on it, but performance data relating to that account can be recorded on your credit file still.

The CCA 1974 has provision preventing debt being collected on an unenforceable agreement, but according to the Data Protection Act, as long as data is accurate and up to date, sufficient, but not excessive, it is totally legal and above board.

So if you missed payments / defaulted on an unenforceable agreement, the data stands unfortunately.

incesticde

Bugg£r!!

thanks for your reply izools, very informative.

So it looks like the missed payments will stay on my file until 2014 then depite the fact they will be over eight years old by that point.

Anyone have an idea just what sort of a weighting Credit companies place on such data? (i.e. missed payments that are over six years old)

I remember reading that typically credit companies are only interested in the last three years of repayment history?

thanks again for your help

izools

Missed payments on an closed and settled, non-defaulted account aren't weighted as heavily as missed payments on open and active accounts.

The older they are the less relevant they are.

The most recent 36 months of data is the most important. If the most recent 36 months of data is flawless the preceding 36 months data is not likely to make any difference, unless of course part of that prior 36 months data is made up of defaults, CCJs, or other such adverse data.

But as usual, this varies from lender to lender. My flatmate, for example, was declined for a Co-Operative Cashminder account (the one that even undischarged bankrupts can get) but approved for a Lloyds TSB Vantage account...

There aren't many blacks and whites when it comes to credit scoring

tigerlily44

izools wrote: »

My flatmate for example, was declined for a Co-Operative Cashminder account (the one that even undischarged bankrupts can get) but approved for a Lloyds TSB Vantage account...

There aren't many blacks and whites when it comes to credit scoring

I didn't think it was possible to get declined for the Cashminder account as its the one CABs use as an example for accounts as you say that bankrupts can get...unless they declined your flatmate as scoring too highly to get it - I suppose it can work the other way

Wouldn't it be nice to think we scored too high when we get declined...:rotfl:

tiger

izools

tigerlily44 wrote: »

Wouldn't it be nice to think we scored too high when we get declined...:rotfl:

tiger

Vanquis do this. Remember credit scoring models have to do with how closely the applicant matches the target market for the product, not necessarily how responsible they are and how flawless their credit history is

PNPSUKNET

I got declined vanquis with no adverse did it for £25 cashback

izools

PNPSUKNET wrote: »

I got declined vanquis with no adverse did it for £25 cashback

What is your credit history like though? Although you have no 'adverse' they may still think you had little chance of getting a card elsewhere due to, say, high debt to limit or limit to income ratio, or many credit searches, or new accounts opened recently, or other such data which isn't technically adverse but can contribute towards a poor score.

I know they declined me several years ago prior to my Bankruptcy with all my accounts up to date and no recent searches but approved me two weeks after discharge from bankruptcy...

incesticde

izools wrote: »

Missed payments on an closed and settled, non-defaulted account aren't weighted as heavily as missed payments on open and active accounts.

The older they are the less relevant they are.

The most recent 36 months of data is the most important. If the most recent 36 months of data is flawless the preceding 36 months data is not likely to make any difference, unless of course part of that prior 36 months data is made up of defaults, CCJs, or other such adverse data.

But as usual, this varies from lender to lender. My flatmate, for example, was declined for a Co-Operative Cashminder account (the one that even undischarged bankrupts can get) but approved for a Lloyds TSB Vantage account...

There aren't many blacks and whites when it comes to credit scoring

Nice one mate..

Roll on April 15th when my CCJ (settled) drops off the file after which I will show one missed payment in the last three years and a 1-5 four years ago.

Should make me a better prospect to lenders (I hope!)