Equifax and Tenant Referencing

cifpower

Hi

I have just filled in and submitted a reference form for my landlord via a website called Landlord Secure. They use Equifax. I was always of the belief (confirmed by Experian) that they could only see PUBLIC information, eg CCJs, bankruptcies, electoral roll etc

This company claims to be able to check for:

• Billing/Account Activity
• Bad Credit (undisclosed)
• Information on Credit Searches

https://www.landlordsecure.co.uk/documents/samples/Comp-Ref-Report.pdf gives details as to what the report shows. The number of open and closed current accounts, utility accounts, loans and credit cards? Either Equifax does allow the referencing companies to see this data or the company is lying.

Tixy

Interesting sample report.

There is nothing on that sample report that actually discloses any credit account information or credit searches performed etc, though it is certainly on reading it, it would indicate that they are claiming they would be able to tell-
-the number of accounts recorded on the credit reference agencies
-searches by debt management companies

It doesn't anywhere define what they include as adverse credit, it could well just be CCJs/insolvency etc.

It doesn't indicate anywhere that the can actually see any detail from the credit accounts.

I'd be surprised if equifax did share information on the number of accounts, and would be inclined to think they company is misleading its landlord/lettings customers, but I'd be very interested to hear a definitive answer from equifax.

GingerBob_3

Tixy wrote: »

Interesting sample report.

There is nothing on that sample report that actually discloses any credit account information or credit searches performed etc, though it is certainly on reading it, it would indicate that they are claiming they would be able to tell-
-the number of accounts recorded on the credit reference agencies
-searches by debt management companies

It doesn't anywhere define what they include as adverse credit, it could well just be CCJs/insolvency etc.

It doesn't indicate anywhere that the can actually see any detail from the credit accounts.

I'd be surprised if equifax did share information on the number of accounts, and would be inclined to think they company is misleading its landlord/lettings customers, but I'd be very interested to hear a definitive answer from equifax.

1) I wouldn't be surprised at all.

2) You won't get a definitive answer from Equifax, or from Experian in connection with Check My Tennant.

cifpower

GingerBob wrote: »

1) I wouldn't be surprised at all.

2) You won't get a definitive answer from Equifax, or from Experian in connection with Check My Tennant.

To Experian's credit they have often posted on this site that landlords are unable to see credit agreements and ONLY publicly held information, eg CCJs and Bankruptcies. They also detail this on their website.

I have googled for details on Equifax's landlord search parameters but have been unable to find anything.

Surely all credit agencies must play by the same rules.

EDITED TO ADD

I found this from 2010
https://www.veri-check.co.uk/resources/media/Equifax-Press-Release.pdf

cifpower

I have just found this:

Equifax, the leading consumer insights expert, has been selected by landlords and letting agents network, https://www.landlordreferencing.co.uk, to enhance its tenant vetting services. By integrating Equifax consumer credit data into its checks, landlordreferencing.co.uk is giving its members a truly comprehensive real-time vetting solution that reduces the risk of fraud without impacting on the decision-making process.

http://www.landlordreferencing.co.uk/blog/lrs-selects-equifax-for-market-leading-tenant-verification/

Either Equifax is doing something different to Experian or the above is sales blurb and all a lie.

happy_bunny_2

There was talk a few years ago about reporting rent payments and letting landlords see a rental section of a credit report.

Other than that, no idea.

HereBeDragons_2

Make a Subject Access Request (SAR) to Landlord Secure. It's your right under the Data Protection Act to know what information an organisation holds on you.

Here's a link to The Information Commissioner's Office website explaining what it is, how to do it. It includes a template letter.
https://ico.org.uk/for-the-public/personal-information/

Let us know how you get on. I'd be very concerned if landlords are being given non-public personal financial data by credit reference agencies.

fermi

If I recall Equifax do report aggregate account data. i.e. number of accounts.

They don't however report anything about the actual accounts, defaults, limits, payments etc, as that would be fully against the principle of reciprocity.

Not sure I would classify the aggregate data being reported as acceptable, but it may well be so in fine print of the SCOR documents.

cifpower

fermi wrote: »

If I recall Equifax do report aggregate account data. i.e. number of accounts.

They don't however report anything about the actual accounts, defaults, limits, payments etc, as that would be fully against the principle of reciprocity.

Not sure I would classify the aggregate data being reported as acceptable, but it may well be so in fine print of the SCOR documents.

Aggregate data would, I assume, not be split into its component parts such as number of open and closed current accounts, utility accounts, credit card, loans etc. So one would have to wonder how Equifax can provide this information if, as you say, there is no reciprocity.

I will spend my lunch hour sending a query to the ICO to get a fuller explanation.

fermi

Could be the wrong word to use, as does have other meanings in CRA context in relation to the PoR. However, yes, I struggle to see how it is permitted.

There are however sometimes things not in public documents.

However...

http://www.scoronline.co.uk/files/scor/por_version_36.pdf

Dreadful document!

cifpower

fermi wrote: »

Could be the wrong word to use, as does have other meanings in CRA context in relation to the PoR. However, yes, I struggle to see how it is permitted.

There are however sometimes things not in public documents.

However...

http://www.scoronline.co.uk/files/scor/por_version_36.pdf

Dreadful document!

I have raised a question with Equifax directly asking if they are like Experian and show only public data or if they show private data such as defaults and missed payments etc. Also, do they provide information as shown on the sample report of number of open & closed accounts at the current and previous address with adverse credit shown.