What your credit score really means

DCFC79

potatoefeet66 wrote: »

Fact is they mean very little if lenders abuse the system process.
I recently found that having jumped into lenders pool having met their internal policy rules to port and simultaneously reduce my mortgage my application was declined as they claimed I had failed credit scoring. My file was clean and a SAR showed the credit search score as good normal case with the score recorded.
It has become clear the lender had no intention of allowing a reduction to an existing loan at 0.84%. Forcing me to sit on mortgage debt which has been unfair and unethical to say the least.

Didn't need to post it twice.

David52010

I am extremely disappointed with the behaviour of Clearscore and hence Equifax.

I have incorrect information on my Credit Reference which I have informed them of several times and no action has been taken to correct their errors.

The one error that remains is that they still have me associated with a person called Elisabeth Caton Bates. This is totally incorrect as my Wife has never had the surname of Bates, only Pollard (maiden name) and Green (married name). I have never had a reply to the issue. I would have thought that maintaining false information is contrary to the GDPR and its forerunner the DPA.

Why will this firm take no action to correct the matter?
:

DCFC79

David52010 wrote: »

I am extremely disappointed with the behaviour of Clearscore and hence Equifax.

I have incorrect information on my Credit Reference which I have informed them of several times and no action has been taken to correct their errors.

The one error that remains is that they still have me associated with a person called Elisabeth Caton Bates. This is totally incorrect as my Wife has never had the surname of Bates, only Pollard (maiden name) and Green (married name). I have never had a reply to the issue. I would have thought that maintaining false information is contrary to the GDPR and its forerunner the DPA.

Why will this firm take no action to correct the matter?
:

Have you complained to ICO ?

potatoefeet66

The ICO allow data controllers to circumnavigate their own regulations. If data is inaccurate or misleading or for that matter fraudulent a lender for example, can simply claim they “cannot possibly comment on Information which is more than 3 month old”. So if you find you have any issues you need to present these within a 3 month window, which is impossible when a company withholds data.
On minor issues of little or no public interest you may get support but with a major issue you are very much left to take matters into your own hands via the legal system.

In 2017 my mortgage company offered me 300 pounds for delay in providing mortgage accounts which when they arrived were inaccurate and incomplete ,manually created as they clearly have not retained accurate records and still have not provided a complete set for an existing mortgage.

It’s just not acceptable to destroy people’s lives this way. :money:

gabanker

In all my years of being a financial advisor I have always advised my clients to get a free report due to the fact of the agencies like clear score and totally money are great I use them both but a couple years back I tried a paid credit score agency and both the score and report are the same as free. A couple other things I would like to mention are totally money are great but if you have a telecommunications account with virgin media etc. It doesn't show up but that is the only problem I have had. And for anyone who banks with Halifax like me you can get a free score and report off them which I also found great and very reliable.

[Deleted User]

As a financial advisor with years of experience you should know the scores from the CRA’s are made up.

TotallyMoney get their data from TransUnion and my Virgin Account and many others are visible on there

[Deleted User]

Gilermo wrote: »

I dont like to take credits and loans

But you like to spam, don't you!

Rosst534

Thanks for the advice :money:

Stephbaker

Well, I have a good score but don't know how it's going to help me with what?

[Deleted User]

Stephbaker wrote: »

Well, I have a good score but don't know how it's going to help me with what?

It will help with nothing.

Especially SPAM