lenders - regular updates from credit ref agencies

joannapark

@ Experian company representative

Thanks. A couple of clarifying questions:

1) Is it correct that the 'ongoing checks' don't show up on your credit report as a 'search', or a 'footprint' of one?

2) When you say that info going to a lender would be a summary rather than the full report, what info is in the summary? I presume it is balances. Does it include details like, for example, a change of address or electoral roll info? Please advise.

3) I think as a consumer we have the right know the specifics of what you supply and any details companies have about us.
Doing another poster's suggested Google search, in this thread, brings up 'business' feeds that you provide for lenders, such as the feeds supplied through your Delphi system. ('Business' relates to 'consumers', ie us.) The info suggests, against what you put, that there are very detailed automatic feeds giving lenders info about 'all customers' - or is this system for 'problem customers'?

Regards,
JP

jackjones01

Whats the actual problem you have? Providing the information given to the lender is factual. You agree to the sharing of information when you open a credit account. Why do you need to know?

Experian_company_representative

1) that's right, no footprints left unless they access the actual data.
2) the summary is just a round up of key variables such as total outstanding, number of recent searches, new accounts and so on, not the actual credit report entries.

Lenders who do this tend to monitor all customers and the summaries update through regular credit reference agency feeds.

James J

joannapark

@ Experian company representative

Thank you for your response - that's useful.

There is one aspect of your answer to my 2nd question (your response number '2' above) that I am unclear about, though. Does the 'summary' of info that goes to lenders, in a feed, cover just financial information? (You say it covers 'total outstanding, new accounts, new [lender] searches'.) Does it cover changes to things like the individual's address and electoral roll details as well? Details in such areas are often considered significant to credit record files so perhaps they are included also?

I look forward to your reply about this final important detail, that will fill out the picture. Thank you in advance.

Regards
JP

jackjones01

What exactly are your concerns? Are you trying to avoid something?

joannapark

@Jack Jones01 -

My question is self-explanatory. The Experian representative has answered the query so far, so there is a useful dialogue - and I believe this info is of wider interest too, since it is an area we don't really hear about and we are entitled to know about the use of our information. Do you have a problem with other people finding things out?

jackjones01

joannapark wrote: »

@Jack Jones01 -

My question is self-explanatory. The Experian representative has answered the query so far, so there is a useful dialogue - and I believe this info is of wider interest too, since it is an area we don't really hear about and we are entitled to know about the use of our information. Do you have a problem with other people finding things out?

Just seems daft as when you agree to "share" information when you agree to a lenders terms and condition.