GDPR & arrears

Bluetonic123

I am currently prepping for GDPR at work, in particular the right to be forgotten. I am putting in processes to ensure that any requests for data to be deleted are honoured, with no questions asked . It has occurred to me that if this applies to credit references agencies I could request that old arrears are removed. Do you think it is worth a shot?

I am mostly joking but part of me thinks that I could be onto something …

[Deleted User]

Why would you want that?

You would then have no history..

You might want to read up on the CRA's websites about what can and can't be requested from them as part of GDPR.

[Deleted User]

Bluetonic123 wrote: »

Do you think it is worth a shot?

No. .

slapmatt

Credit agencies are likely to claim their have legitimate usage over defaults, arrears etc. which means they wouldn't delete them. I have wondered though what you happen if you requested your whole file be deleted.

I have also wondered about the legality of where credit agencies get their data from post GDPR, as I don't remember ever agreeing to having my information shared with them.

Hopefully GDPR will give a credit agencies a bloody nose and a few will go out of business.

[Deleted User]

slapmatt wrote: »

I have also wondered about the legality of where credit agencies get their data from post GDPR, as I don't remember ever agreeing to having my information shared with them.

You agree to it within the credit agreements you sign.

slapmatt

Deleted_User wrote: »

You agree to it within the credit agreements you sign.

That is the case today. GDPR is supposed to change the murky, long-winded T's & C's which means your data can be shared at will.

We will have to wait and see what the impact is.

[Deleted User]

It will remain the same. Your right to refuse will be more clearly identified, but in terms of credit, it will mean that the credit cannot be offered as it is a necessary condition of the service, unless a lender wants to invest in manual underwriting through other sources.

PixelPound

Will we see letters like
"Dear Mr Smart!!!!!, we have just been informed by the CRA's that you requested to have data deleted, and since this breaches the T&C of your mortgage we request that you pay the remainder of what you owe within 30 days"

lol :rotfl:

slapmatt

Deleted_User wrote: »

It will remain the same. Your right to refuse will be more clearly identified, but in terms of credit, it will mean that the credit cannot be offered as it is a necessary condition of the service, unless a lender wants to invest in manual underwriting through other sources.

Why is sharing my data with credit agencies a necessity to offering me credit, especially with a provider I already have an established history with? There is a specific new right, the "Right to restrict processing" which covers this.

[Deleted User]

Because of the rule of reciprocity. Without sharing the data, they won't be able to access it.

slapmatt

That's not my problem though, it is? It is also not in the spirit of GDPR, which is privacy by design.

I will try it out next month and let you know how I get on.