How long does a bank remember bad debt?

eskbanker

xlnc99 wrote: »

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.

I don't see it as beside the point, as you're mixing up the singular and the collective - to introduce yet another analogy, if you're convicted of shoplifting then it's not unreasonable to be banned from the shop concerned, but it would clearly be completely disproportionate to ban you from all shops.

Best solution: don't shoplift in the first place.
Second best: if you're banned from a shop, recognise (a) that you deserve it and (b) that there are plenty of others....

xlnc99 wrote: »

If you are barred/blacklisted then your choice of banks get slimmer and slimmer.

Your choice only gets slimmer and slimmer if you repeatedly shaft each one in turn, so the right to do just that is hardly something to be cherished and protected!

Willing2Learn

xlnc99 wrote: »

The main point here is not about moving on its about the fact that you have potentially a lifetime ban with an organisation.

It isn't actually a lifetime ban as that is not in the policy wording. It is about their data retention policies and whether they are consistent with the statutory regulatory framework...I think that is the direction I am heading...

… I just don't know if I can be bothered.

xlnc99

i dont think you can compare shoplifting to missing a payment on owing a bank 100 pound and clearing it a year later due to some difficulties. Apples and oranges. One is a criminal offence and another is a civil offence i believe. The speeding ticket/points analogy would be more appropriate in this case. Even if you get a CIFAS marker for fraud (which is more serious then not paying £100) they only last for 6 years and its debatable if some banks if this on file for your lifetime. I know banks offered accounts and services after the CIFAS have been removed from the very same bank that put them there!

I will agree if you get done for Fraud via a bank they have every right to not offer you service again for life but even that maybe harsh but understandable. I cant agree with them not offering you services because of late payments. They bank have conned the public for years and continue to do so.

xlnc99

Willing2Learn wrote: »

It isn't actually a lifetime ban as that is not in the policy wording. It is about their data retention policies and whether they are consistent with the statutory regulatory framework...I think that is the direction I am heading...

… I just don't know if I can be bothered.

You have come so far i think you should go see it through otherwise it will just nag you forever and eat up at you

[Deleted User]

TL;DR - banks can do as they wish and there’s many others for you to choose from out there.

Move along people, nothing to see here

eskbanker

xlnc99 wrote: »

i dont think you can compare shoplifting to missing a payment on owing a bank 100 pound and clearing it a year later due to some difficulties. Apples and oranges. One is a criminal offence and another is a civil offence i believe. The speeding ticket/points analogy would be more appropriate in this case.

It's not a perfect analogy by any means but I was using it to illustrate a point about offences where there's a clearly identifiable victim, rather than comparing severity as such.

xlnc99 wrote: »

They bank have conned the public for years and continue to do so.

What do you mean by that - are you referring to historical scandals or something relevant to this discussion?

xlnc99

I was being general and their charges to the public for the last God know how many years which i believe is relevant to the discussion.

Cannot believe how everyone is defending the bank after what they did to us all. We use them because we need too and have too and thats it.

[Deleted User]

“I’ve been hard done by so I’m going to start throwing accusations and anger at the banks”

Is how that reads

meer53

No bank would impose a lifetime ban. They're businesses, if you meet their criteria at some stage in the future, they may open an account for you, if they won't then that's their choice, there are plenty more to apply to. Even bankrupt folk can get bank accounts so I can't see the issue really ?

xlnc99

!!! wrote: »

“I’ve been hard done by so I’m going to start throwing accusations and anger at the banks”

Is how that reads

Not at all, every circumstances are different and on this occasion i am siding with the OP. For example, banks probably owe me in the thousands in terms of PPI/charges etc from back when i had credit cards/current account etc. Ive never once claimed just because of the fact it will probably stay on record and make it hard for me to get any services from them again in the future. I am entitled to do so but as i pointed out banks are a necessity so i had to bite my tongue as a figure of speech. I let them get away with it which further demonstrate my point that the bank has a strangehold on all of us consumers.

So that being said if i was in the OP position id feel hard done by, cant let the banks win everything. Whats fair is fair. A bit of give and take in my opinion.