Statute barred info required...

iolanthe07

so stick your cynicism up your asses.

Charming! What a classy lot of new posters we're getting these days!

geoffky

Rich...I read one the other day asking is it ok to get a payday loan to pay for their bankruptcy fees....oh boy we see them all here....

RichL74

This is probably not the correct place for it but I was speaking to a neighbour who works for a popular (well, unpopular lately!) high street bank and she told me that when they are going through the loan / credit card application with you in the bank, on their screens they are looking at every piece of history on you - whether it is 6 years old and dropped off your credit record, it is still on the banks own computers (even if the loan is from another bank) they decline you and tell you to go to Equifax or Experian but really they have all the information on you themselves.

The banks or credit card companies wont forget you surely? Just because its not on your credit history, it is still on theres until the day you die.

Or is this all BS from my neighbour?

nottoolate

RichL74 wrote: »

This is probably not the correct place for it but I was speaking to a neighbour who works for a popular (well, unpopular lately!) high street bank and she told me that when they are going through the loan / credit card application with you in the bank, on their screens they are looking at every piece of history on you - whether it is 6 years old and dropped off your credit record, it is still on the banks own computers (even if the loan is from another bank)

if the previous debts were with that bank or another one in that that banks group then they might be able to see things further back than 6 years. internal records.

otherwise no they cant

bargainbetty

They are also restricted at branch/customer service level in the information they can provide you without a subject access request (to get all files held on you under the DPA), which is why they give you the advice to check your credit report with Equifax or Experian.

Typically, they only consider the previous six years and your current financial status compared to the credit you are seeking. It is unlikely to affect you forever - six years is the norm.

I liked the thread about the person asking if it was a good idea to take out a payday loan knowing it couldn't be repaid, and then enter into a payment arrangement with them straight away to avoid running up too many charges.

Oh, and the peron who wanted one for £100 to throw a birthday party for her one year old child. A kid that would be happy with balloons, a large box, cake and someone to occasionally change his nappy apparently 'needed' a proper party costing £100.

Experian_company_representative

We keep defaults (coded as 'status 8' on Experian) for six years from the default date. After that they are removed completely, so a lender would then be unaware you had defaulted in the past - unless the default was with them (or part of the same group) as they can always check their internal records.

James Jones