CRA and Housing Associations

sarah_in_glasgow

Need advice re my housing association teaming up with Experian . Apparently my rent payment details will be sent to this company to help build up my credit ratings, not just mine, but everyone who rents from this association. I'm fuming over this as apparently " tenants reps" agree this is a good thing. Do I have any option to opt out of this? My bank ect have access to my credit rating, I am in full time work, not in debt, and feel I am being forced into this by faceless reps, who do not represent me in any way. Can anyone help?

McKneff

'Apparently' what does that mean.


Sounds like a bit of gossip over the garden fence.


Speak to someone at the HA and get it from the horses mouth......

Thrugelmir

Don't take it personally. You've nothing to fear if you pay your bills on time. Unfortunately many people don't. Which costs us all money in one form or another as debt collection is a costly and time consuming business.

GingerBob_3

sarah_in_glasgow wrote: »

Need advice re my housing association teaming up with Experian . Apparently my rent payment details will be sent to this company to help build up my credit ratings, not just mine, but everyone who rents from this association. I'm fuming over this as apparently " tenants reps" agree this is a good thing. Do I have any option to opt out of this? My bank ect have access to my credit rating, I am in full time work, not in debt, and feel I am being forced into this by faceless reps, who do not represent me in any way. Can anyone help?

That is correct, as I understand it. Experian have recently had another success in bribing parts of the private rental sector to report their tenants. To quote Experian, "this levels the playing field between tenants and house owners paying a mortgage". The arrangement is touted as a good thing for tenants (provided you never EVER miss a payment and the landlord NEVER makes a reporting mistake), but you can also view it as yet another opportunity for your ability to obtain credit to be shafted. And you'll have no choice in the matter; you can't opt out.


It's a form of blackmail - pay up, on time every time and don't dispute anything or we'll make sure you don't get any form of credit for six years.


BTW - do you pay your rent monthly in advance? Yes? Well, you're not getting credit then - so why are you being reported to a "credit" reference agency?

sarah_in_glasgow

McKneff wrote: »

'Apparently' what does that mean.


Sounds like a bit of gossip over the garden fence.


Speak to someone at the HA and get it from the horses mouth......

Apparently tenants reps approved this. I have it in writing. I'm going to housing in the morning. I feel I'm being forced into something I don't want.

stclair

sarah_in_glasgow wrote: »

Apparently tenants reps approved this. I have it in writing. I'm going to housing in the morning. I feel I'm being forced into something I don't want.

I've got a hunch you won't have a choice.

sarah_in_glasgow

stclair wrote: »

I've got a hunch you won't have a choice.

Ur probably right, but I'm not going down without a fight. I'm just wondering if the housing are getting any incentives for this. I will see what the works legal team come up with. I've nothing to fear, it's just I don't like anyone forcing me into things!

jim-22

Is this Glasgow Housing Association?

MisterBaxter

Experian have been doing the rounds of the Housing Associations and Local Authorities with rented housing stock plying their wares. They convince staff and tenant groups that this will be a good thing on the grounds that it will help them obtain credit in future by building a good credit (score) profile. There is no direct financial incentive for the landlord but it does have the effect of making tenants think twice before spending their rent money on something other than the rent.

I can see there being issues for tenants who rely on benefits as their rent could end up being paid late because of a benefits issue.

I am not even sure that the reporting for those who do pay on time will benefit the tenant to any real degree and if I recall it correctly it isn't reported in the credit agreement section as it isn't a creidt agreement, instead it is recorded in a rent payment section, but I could be wrong on this.

The only winner in this is Experian, who by having another data stream improve their ability to sell on that data to third parties.

I think the data dump will be an all or nothing deal; I can't imagine any of these organisations wanting to put too much effort or resource in to removing individual tenant's data.

If it does go ahead then I would make sure that you check your credit report at least annually or before applying for any credit just in case errors have been reported. One good thing is that there are various channels of complaint in most of these organisations end with an Ombudsman who usually favours the tenant (unless it's glaringly obvious that the tenant is in the wrong). You could even raise a complaint before the data exchange starts to see if there is anything in your tenancy agreement that either allows or prevents the data being passed on.

sarah_in_glasgow

Hi Jim, it's Elderpark Housing in Govan

sarah_in_glasgow

Thanks for info Misterbaxter. Going to see them now.