Petition To Prime Minister

Donel261

Well I am totally opposed to them sharing our details without permission.

What will happen next, a negative mark on your credit report for going over the overdraft limit or a cheque or direct debit bouncing? Also, I don't want people being able to check my credit report and see what my salary/savings.
You also know it is near on impossible to get them to change anything that is incorrect or disputed, your screwed!

I work for the local authority and as practice credit records are checked through experian as part of inquiries into finances and linked addresses, experian sell access to this information to lots of people these days, its wrong wrong wrong and becayse of that I dont agree.

roswell

""I don't want people being able to check my credit report and see what my salary/savings.""

Yours Savings arent on your credit report, You tell the bank your salary when you fill out application forms .. so why the secret?


""You also know it is near on impossible to get them to change anything that is incorrect or disputed""

Actualy you can dispute anything you wish on your credit report and if it found in your favour it will be removed / comments added for explination.

Maybe you should investigate whats is on your credit report before you petition it.

Donel261

The whole point is that they want to share the information, if they do so in the same format as the credit companies it will show an outstanding balance (they will therefore know your savings)

In terms of the credit reference agencies, you may well "in theory" be able to challenge anything on your credit reference file and get it corrected but in practice they wont change it for love nor money. I have several problems that I am working on through the consumer action group, an example being an arguement with Telewest over a default they placed on my file (for six years) because they failed to cancel my account despite me requesting they do so, the default is for line rental. I am having to take them to court over the matter because the credit reference agencies wont actually change anything without permission of the companies... eitherway I have signed the petition because I believe in it, dont need to look into it further...

thesaint

Donel261 wrote:

The whole point is that they want to share the information, if they do so in the same format as the credit companies it will show an outstanding balance (they will therefore know your savings)

In terms of the credit reference agencies, you may well "in theory" be able to challenge anything on your credit reference file and get it corrected but in practice they wont change it for love nor money. I have several problems that I am working on through the consumer action group, an example being an arguement with Telewest over a default they placed on my file (for six years) because they failed to cancel my account despite me requesting they do so, the default is for line rental. I am having to take them to court over the matter because the credit reference agencies wont actually change anything without permission of the companies... eitherway I have signed the petition because I believe in it, dont need to look into it further...

The bit I have put in bold is one of the worst statements I have read on this site, and i've read some bad ones:mad:

Hannah111

I agree with the fact that the banks should be able to do a check before accepting you for a loan, etc. But if u go over drawn.... by pennies as i have previously, thats going to go on your report? if so... thats what i dont agree with!!! some of u are criticising others and stating that they might not have got into the mess in the first place if the banks did this, well sometimes, going into debt just cant be helped if you havent got savings and there's an emergency or something!!

roswell

Donel261 wrote:

The whole point is that they want to share the information, if they do so in the same format as the credit companies it will show an outstanding balance (they will therefore know your savings)

In terms of the credit reference agencies, you may well "in theory" be able to challenge anything on your credit reference file and get it corrected but in practice they wont change it for love nor money. I have several problems that I am working on through the consumer action group

And theres the problem, CAG dont fix credit reports credit agencies do !
If you want it fixing you raise a dispute with the agency. The agency contact the creditor the creditor has 30 days to respond with evidence if they dont respond the angency finds in your favour and its removed ... no need for court and no creditor will go to court if they dont have a water tight case.

The sharing of info has happened for years EG.

I want a loan
Bank : How much
25 000
Bank : tap tap tap .... Computer says no i suggest you get your credit report"

They computer has set rules it says " Can Bob have XYZ according to our lending criteria ?" it goes of checks your credit file and says yes or no.

Talentguy

I'd actually like them to share my information! I opened by bank account at 16, took a cheque book and solo card... then went to switch when old enough.

I came to take a loan out elsewhere when I was 21 and due to having no credit information I was unable to go anywhere other than my bank and was completely ripped off because of it.

As I understand it only a few banks withhold your information about your CA.

roswell

Hannah111 wrote:

I agree with the fact that the banks should be able to do a check before accepting you for a loan, etc. But if u go over drawn.... by pennies as i have previously, thats going to go on your report? if so... thats what i dont agree with!!! some of u are criticising others and stating that they might not have got into the mess in the first place if the banks did this, well sometimes, going into debt just cant be helped if you havent got savings and there's an emergency or something!!

Its not the getting into some debt thats the problem or what were discussing its the fact of preventing people getting into to much debt, I agree debt cant always be avoided but spending for 7 years on credit cards getting 3 consolidation loans and 12 loans for new cars in 3 years can be.

I have seen many post that say " if the bank didnt let me I couldnt have borrowed this much" or " Why didnt the bank stop my husband before it got to £80 000" this is eactly what they are trying to do by sharing the info.

sarymclary

roswell wrote:

I have seen many post that say " if the bank didnt let me I couldnt have borrowed this much" or " Why didnt the bank stop my husband before it got to £80 000" this is eactly what they are trying to do by sharing the info.

Well, the loan sharks are going to be laughing all the way to the bank themselves if this all comes into practice, arent' they? If people are desperate/determined enough to borrow money left, right and centre, then they will.

If our banks were all so caring and sharing, why is Martin having to campaign so hard about claiming back charges? Surely our caring banks should be going back through their comprehensive records for us, and refunding accordingly? Hmmm, I don't buy this caring bank stuff. There can only be one reason for it, and it has to be in their best interests only.

Ultimately we are all responsible for our own level of borrowing and the debt we allow ourselves to get into, yes circumstances will prevail to make things difficult for us, but in the end, we are only answerable to ourselves - the bank didn't make me take out a mortgage or rack up credit card debt I couldn't service in the end, I did.

roswell

sarymclary wrote:

Well, the loan sharks are going to be laughing all the way to the bank themselves if this all comes into practice, arent' they?

Fact is there has always been loan sharks and always will be, the point is that large corperations are pretcting themselves from the blame after all when was the last time a loan shark was taken to court for excessive charges or neglatent practices ??

I agree that desperate people will do desperate thinks but your average whitecollar worker isnt goign to know how to find or contact a loan shark. its not exactly your first thought "Oh i need £15 000 for a car ill call johnny (knee capper) Jones for a borrow"