GDPR and Experian

50Twuncle

Shakin_Steve wrote: »

When I closed my account I just went into the payment details on the site and cancelled from there. Instant message to tell me how long I still had access for. No dramas.
Of course they keep your financial information for six years, that's the whole point of their existence.

That's what I did to start with - but found that about 3 months later, I was still able to log on and access all of my personal records - which concerned me - since Experian were, themselves hacked, 3 years ago !
Eventually - they claimed to have removed my account - but, obviously this was not true - they simply removed my access to my account records !

[Deleted User]

They won't remove the data they hold on you

If they've removed your account to access your credit file then they've done their job

MEM62

50Twuncle wrote: »

So - according to you - any company can do what it likes with our personal data - as long as they can identify a reason for doing it
That is exactly what GDPR is supposed to protect us from....
Unscrupulous companies

You need to improve your understanding of GDPR. Your assumptions as to how it works are incorrect. Companies can hold/process your data for ay one of the following reasons;

Consent
Contract
Legal Obligation
Vital Interests
Public Task
Legitimate Interest

Consent for your data to be shared is included in almost all of the agreements that you sign in respect of financial products. There was a post by someone a few weeks ago stating that they were going to exercise their right to be forgotten with all CRA's. Even if this were possible the consequences of that would be no future borrowing as financial institutions would be unable to check your credit history.

50Twuncle

MEM62 wrote: »

You need to improve your understanding of GDPR. Your assumptions as to how it works are incorrect. Companies can hold/process your data for ay one of the following reasons;

Consent
Contract
Legal Obligation
Vital Interests
Public Task
Legitimate Interest

Consent for your data to be shared is included in almost all of the agreements that you sign in respect of financial products. There was a post by someone a few weeks ago stating that they were going to exercise their right to be forgotten with all CRA's. Even if this were possible the consequences of that would be no future borrowing as financial institutions would be unable to check your credit history.

Yes, I may have consented to them holding on to my data - before GDPR was thought up - things change/move on..
It is not the fact that my data exists, that worries me - but who holds and has access to it.

[Deleted User]

Credit Agencies and several other financial institutions are required by law to hold data for the allotted timescales

MEM62

50Twuncle wrote: »

Yes, I may have consented to them holding on to my data - before GDPR was thought up - things change/move on..
It is not the fact that my data exists, that worries me - but who holds and has access to it.

Other than those that have your express consent, it would be any organisation that has 'Legitimate Interest'. Therefore, it may be passed to any company to whom you apply to borrow money or ask for a credit facility.

50Twuncle

Thanks
I will not be taking out any loans or requiring any credit

[Deleted User]

Then after 6 years anything redundant will drop off