Petition To Prime Minister

Donel261

Please sign this petition regarding banks wanting to share information regarding your accounts with credit reference agencies. We all know the damage a blip on your credit report can have, going overdrawn etc.

http://petitions.pm.gov.uk/bankdatasharing/

itsarichmansworld

done! and Bumped up please folks sign this!

Hannah111

Done!! Good thinking Donel261!!

Warriorsith

My names right down at the bottom. Well Spotted!

AGB863

bump it up:j :T :j :rotfl:

muppets

done it aswell

doodah

signed

.

SunderlandBlackCat

Signed

Al_Mac wrote:

To be honest, I think it's a good thing, might have prevented a number of people being here in the first place. More good than harm.

Sorry but I can't agree with that. There is already far too much misuse of personal data. The Data Protection Act needs to be tightened up not riddled with further loopholes & workarounds.

roswell

Ok bit of devils advicate work here as i posted in the post someown else about exactly the same petition.

Im 100% for the banks sharing info, if HSBC / Barclays / RBSG etc can all see what your commitments are they are more likely to refuse you further credit ... thsi is a good thing for 2 reasons.

1) it limits the risk to the banks of bad debt or of you going bankrupt.
2) It limits your own chances of borrowing more than you can afford and going bankrupt and blaiming the banks.

When you cant get credit from anywhere its time to admit you might just have to much ??

sarymclary

I posted this same link yesterday and got criticised for doing so, as it's apparently a good thing for the banks to share all out info with each other. In that case, why don't we extend it to all high street shops so that they can stop people racking up debt on charge cards too, oh, and while we're about it, the utilities guys could share info for everyone who gets behind with their bills, and then that would stop people from being able to switch supplier (even if it's to save money).

Quite frankly, I'd rather have the choice of where my personal data were kept, and I'd prefer it to not be with the banks who leave laptops in cars, or put paperwork with bank account/personal details in binbags and skips out the back of the banks.

Whilst banks will hide behind the fraud, or protecting people from themselves by preventing them getting into too much debt guise, I think this will just enable them to use the info gained to target selling more products, eg. HSBC might notice a Barclays customer with high credit card bills debts and suggest they have a consolidation loan, or the recently widowed person being sold probate or will writing products (the latter of which I was unfortunate to be on the receiving end from by HSBC the week after my DH died).

So, my names already on the list!

roswell

Ok which is better then,

A income of £21 000, and £25 000 of debt and unable to get more.

A Income of £21 000, £50 000 of debt and still applying for more

The other thing is banks have had ways of getting to this info anyway for years, how do you think your mortgage application goes you declare what debts you have they check .... if you dont declare them and the bank finds out they will either reduce the amount they will lend or may even denie you the mortgage anyway.

I can think of worse people i would want to hold my info than the bank eg the mafia.

Yes 1 laptop was once stolen from a car that held personal details, but in all honesty your generaly not going to get the type of car thief that only breaks into cars owned by bank employees to get bank data. .. You may get hackers that are interest in the info hacking into the banks systems and raiding the accounts of every customer.

A bit of prospective is very usefull, that laptop that was stolen because it was left on dispaly and a thief saw it at that exact point in time he didnt think (This might have lots of bank details on) he would have been seen as " I can get £100 for this"

Now back to the petition, I would hope that everyone who signs it also understands they at no point can post " it was the banks fault for letting me borrow this much"