Petition for experian to stop ripping customers off.

auto-man

The resident experian rep is a minion.

He can't influence policy; and has no interest to. They know they're crap but accept it. They think we will but we won't.

I'm in dialogue with Which trying to formalise authority to commence a super complaint against the CRA's however that'll be via our forum. Not here.

If it goes live I'll give you a shout - to vote and have your say. A nice campaign would also help.

billybear1

I'm not hoping for the representative to change the face of the financial landscape. I would however like it if they would be as kind as to look into my case and advise why it is exactly no one can give me definitive answers or at least one that tows the company line.

I think it's a joke!

billybear1

I would appreciate if the resident Experian Representative could take some of these issues forward.

Prehaps even contact me?

Experian_company_representative

billybear1 - sorry to hear you've had difficultiles correcting information on your report. If you contact us using the email address on my MSE public profile (please include the URL to this thread) we'll have a look at this for you.

Lenders are the data controllers so they own the credit data. I know it's information about all of us but that's how it works legally. You give permission for this data to be shared when you take out each agreement.

On data disputes, there is a legal process for us to help this these. You simply let us know (best in writing by post or email) that you disagree with something and why, then we legally have to mark the data as unreliable while we contact the provider to verify your comments. If a change does need to be made, the lender will decide how to do this, whether via a quick update or via their regular monthly data feed.

Lenders certainly aren't wrong 99.9% of the time. That's just silly. The ICO's view, expressed at a Treasury Select Committee hearing a while back, is that based on the volume of data held and the number of complaints made the quality of CRA data is very good.

Credit data sharing has widened access to credit in the UK by helpling lenders better identify and manage risk. This has cut bad debt and enabled lenders to reach out to prevously underserved customers. It's also means that good borrowers have benefitted from more and cheaper lender. I certainly wouldn't want to return to a time when access to credit was governed by whether the bank manager liked the look of you or knew your dad.

James (not Quincy!) Jones

Gordon_Hose

But you believe lenders over the consumers they are reporting on.

If a lenders tells you that wrong information is actually right, you'll believe them. But if a consumer says the wrong information is wrong you'll send them packing with the explanation that the lender has confirmed the (wrong) information is correct.

That because you have a financial interest to side with the lenders.

The system is a shambles! It's biased and unfair. And to have the gall to charge up to £14.99 for it is a disgrace.

john1002

Just my two pence worth, I agree with gordon hose the problem lies with if the information is wrong and the fact that if the company concerned says they are right even if a monkey could see they were wrong you have to go down the ICO route which in most times can take upto 6 months due to how busy they are.

I know james jones says that they are legally bound etc but the reality is that why experian maybe toing the legal line it is the line that needs to be changed more in favour of the consumer and not the companys as it seems to be.

As with everything it would seem that we must just put up as I cant see anyone changing the system.

John

Hazzinho

Anyone arguing the CRA's should believe customers over the lender are in a dream world. That would mean everyone would be able to borrow thousands they can't afford and have perfect credit. I can just say every negative on my file is a mistake.

Gordon_Hose

I'm not saying they should. I'm pointing out why the system is flawed in favour of the lenders 100%.

I'd rather lenders made a decision based on accurate information. Just reading threads on this forum proves that it's not always perfect, and more often than not ruins someone's chances of buying that dream house while they mince around trying to pull each others thumbs out of their backsides.

BugsyBrowne

Well the company is worth well in excess of 50 million pounds so you can see why we are the little fish out there.

billybear1

Experian_company_representative wrote: »

If a change does need to be made, the lender will decide how to do this, whether via a quick update or via their regular monthly data feed.

This is the exact point that needs to be addressed. How long does it take for a default to be registered? I bet that is done via a quick update. EXPERIAN however allow the data controller to twiddle their thumbs waiting for the monthly update (dubious as to whether it is monthly, I have had things with companies left months if not over a year without and update!!) before they will do it.

In my opinion if EXPERIAN are aware that the account is settled, by the letter of the law (the data protection act) should they not update it immediately in order to reflect the true state of the account?