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How long does a bank remember bad debt?
Comments
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Willing2Learn wrote: »I would love to move on - Every time I think I will, I get angered at the thought of having an indefinite ban on being a NatWest customer. It is not like I refused to honour the debt. If I had not paid the money back then I would consider being on a blacklist fair. But I am being treated no differently than someone who did not repay and who just let the debt go SB. Also, I never gave them permission to hold my personal data indefinitely.
As I've already said, you don't know for sure that you are on a blacklist, all you know for certain is that they won't open an account for you.
Even if you are on a blacklist, there's nothing you can do about it. Did you have any debts with any other banks, or any companies come to that? If so, then you might be on their blacklists too, for all you know.
And, as we've explained to you several times, they don't need your permission to hold your data indefinitely if they've got a genuine reason to do so.0 -
Yes, you think that they are reasonable, I think that they display a sense of entitlement that I can’t get my head around.johnsmith1890 wrote: »Are you a politician by any chance? I wonder, because what you've done here, namely pick out just part of the discussion attributable to me, and then come to a conclusion about me based solely on it, is just how politicians operate. Try reading post #63 for a fuller picture and some suggestions which I think are perfectly reasonable.
As for the condescending suggestion that I read your post, I did, and think it foolish.0 -
Willing2Learn wrote: »I would love to move on - Every time I think I will, I get angered at the thought of having an indefinite ban on being a NatWest customer. It is not like I refused to honour the debt. If I had not paid the money back then I would consider being on a blacklist fair. But I am being treated no differently than someone who did not repay and who just let the debt go SB. Also, I never gave them permission to hold my personal data indefinitely.
They don't need your permission.
They can delete all your data after 6 years while retaining a single entry in a database saying do not lend to person x which is nothing to do with you.
GDPR is not a magic wand to make companies forget people who they don't want to deal with. You cannot force someone to give you an account if they don't want to, that's a commercial decision they made and nothing to do with it being fair or not. End of story, move on.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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You’re getting hung up over nothing.
I’m sure there’s much bigger things out there to worry about than whether you can be a customer of a bank that you don’t actually want to be a customer with anyway...??0 -
Willing2Learn wrote: »I would love to move on - Every time I think I will, I get angered at the thought of having an indefinite ban on being a NatWest customer. It is not like I refused to honour the debt. If I had not paid the money back then I would consider being on a blacklist fair. But I am being treated no differently than someone who did not repay and who just let the debt go SB. Also, I never gave them permission to hold my personal data indefinitely.
You made an agreement and failed to keep it - whilst you made good eventually, they have the right to keep a list of people they don't wish to do business in the future.
Provided the data retention is proportional, it's almost certainly fair.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
Having referred to this thread in another one about data retention, I'm curious about the outcome of this, what's happened on your quest during the past couple of months?Willing2Learn wrote: »SAR has been requested0 -
Excellent reading. I completely agree with the OP
The main point here is not about moving on its about the fact that you have potentially a lifetime ban with an organisation. That should not be allowed, you as a consumer should be able to have a choice and no bank should be able to penalise you for a mistake you made for the rest of your life
That is the main point i believe. I am curious to know the outcome on this too0 -
Excellent reading. I completely agree with the OP
The main point here is not about moving on its about the fact that you have potentially a lifetime ban with an organisation. That should not be allowed, you as a consumer should be able to have a choice and no bank should be able to penalise you for a mistake you made for the rest of your life
That is the main point i believe. I am curious to know the outcome on this too
What on earth are you on about? A bank is a commercial operation, they can refuse to do business with whoever they like. Why should they be forced to deal with someone who has cost them money in the past?Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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You do have a choice.
It’s called one of the 20+ other banks out there0 -
What on earth are you on about? A bank is a commercial operation, they can refuse to do business with whoever they like. Why should they be forced to deal with someone who has cost them money in the past?
It should be a level playing field as far as i am concerned. WE dont have options when it comes to banks, every individual MUST have a bank account. You cannot survive without a bank account and that is the true and honest fact. Yes you can argue there are plenty of banks etc but that is beside the point. You do not want to be blacklisted forever, you would like a choice that maybe later on you may decide you want to use their service for something. A bank effects everyone and is a necessity for every individual for life. Its a not a choice so being blacklisted from a bank (if that is indeed the case) is completely wrong.
At the end of the day everyone makes mistakes and the OP made a mistake as am i sure alot of people have done. No-one is saying punishment should not be given, but we should be fair in the punishment. A perfect example in this thread was speeding ticket or points. They remove after a few years and you have a clean slate. Would you be happy if your speeding points stayed for life?
As your you defending banks saying a person has cost them money. I am sure you know by know how much banks have cost people money. They make MONEY Out of US and have been for years for a service that we Must have. IS that not fair?0
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