Credit reference agencies sell to debt collectors?

allcriedout

Hiya, I have just read somewhere that if you do a credit search on yourself, Experian / Equifax sell the data to debt collectors.

I have just done mine with Equifax to find out if ex-hubby paid off a joint debt that HE is responsible for following the divorce. There it is in black and white as defaulted - have I just TOLD the debt collectors where to find me?

I thought a credit report was confidential - surely the data cannot be sold?

Confused ..... :eek:

antrobus

allcriedout wrote: »

I thought a credit report was confidential - surely the data cannot be sold?

The data on your credit report is shared data and will be accessible by any subscribing company. Experian and the like, simply provide you with the opportunity to see what data these organisations are sharing between themselves.

I've no idea whether or not the fact that you've checked your file will be flagged. But if your ex-husband has defaulted on a joint debt, then the lender may well come after you for the balance in due course.

kaya

They dont sell it as far as i know, but the addresses will be linked in future on any credit reports
e.g. If i apply for a credit card they will ask for 3 years worth of addresses from me, if i have only lived in my current address for 1 year then any previous addresses i give to them will be automaticly linked to my name and current addresses for any future credit searches, so if you said you lived where the previous debt is registered and also gave your current addy then any future credit searches performed on either address will show a link between the two, its not really selling data (although they may do that also, i really dont know) but if i were trying to find a debtor a simple credit search on your previous address will now also show a link to your present one, hope that makes sense even if it was a bit long winded

Apples2

allcriedout wrote: »

find out if ex-hubby paid off a joint debt that HE is responsible for following the divorce.

Was this agreed through the Court or just a personal agreement?

Anyway, as above people normally trip over here when they have a debt but move home and simply run from it.

Until they take out a new agreement or update their own files through registering, it pretty much stays hidden.

Nobody needs to sell anything to anyone, it is simply revealed upon a search. Once they update the credit files with the new address, they have you.

As he has defaulted, and it is a joint loan, in all probability they will be coming for you soon (which is why I asked if it was a formal agreement).