Bank take over and previous debt query

Skocty4

Evening folks, ive been thinking about this for a good while now but havent came across anything online that seems to cover it so far. Im a discharged bankrupt of 4 years now banking with the yorkshire bank but since clydesdale/yorkshire have taken over virgin money ive been wondering what this could mean for me. I formerly owed virgin some money going back many years and this was included in the BR. It just feels weird that now my bank has links and virgin will have my data again potentially
Anyone any advice or thoughts on this?
Thanks

luvchocolate

I really do not see a problem here at all, if you are 4 years discharged I presume you are 5 since B.R? This will be removed after 6 years from your credit report.
I moved from co op to Yorkshire bank 5 years after B.R and they were very helpful.
The fact they have taken over Virgin I do not see any problems for you, but if you are worried you can always ask them.

Skocty4

Hi thanks for the reply! Yes it was 2014 when i started the B.R process. Yorkshire have been great, it was perhaps more the potential for them to access old files from virgin. Although they were by no means my largest creditor at the time. i also imagined id start getting chase letters again! Although with sample templates etc from the forums ive a good handle on those situations.

WhenIam64

Yorkshire have been great, it was perhaps more the potential for them to access old files from virgin.

The Data Protection Act requires the holder of the data to remove it from their files when they have no further use for it. They will have a stated data retention policy. You can therefore ask them and you'll know how much longer they will have it - if at all.

In addition the new Data Protection Act (2018) has the "right of removal" (of your personal data). Since the new DPA has some teeth compared to the old one, cannot see banks wanting to hold onto data unnecessarily.

John_G_Jones

WhenIam64 wrote: »

The Data Protection Act requires the holder of the data to remove it from their files when they have no further use for it. They will have a stated data retention policy. You can therefore ask them and you'll know how much longer they will have it - if at all.

In addition the new Data Protection Act (2018) has the "right of removal" (of your personal data). Since the new DPA has some teeth compared to the old one, cannot see banks wanting to hold onto data unnecessarily.

Keeping details of someone who did not repay their debts to you is never unnecessary, and I would suspect banks tend to keep it until they know that the person has died. GDPR doesn’t change it.

OP, no-one can tell of the accounts will ever be linked or if they will choose to withdraw all services from you, but it’s possible. You should open another account in case it happens, with a banking group who you’ve not cost money.

sourcrates

Even creditors don`t want to blacklist you forever, that`s why most agree on a six year limit to keep internal records, although some keep them for longer, the Halifax, for example, keeps them for 7 years, all banks/companies have there own internal polices for this kind of thing.


Banks have done buisnesss with some of the worlds worst dictators and child killers immaginable, yet cringe in horror if you say youve been bankrupt, unvelivablbly crass double standards from the so called pillers of our society.

John_G_Jones

sourcrates wrote: »

Even creditors don`t want to blacklist you forever, that`s why most agree on a six year limit to keep internal records, although some keep them for longer, the Halifax, for example, keeps them for 7 years, all banks/companies have there own internal polices for this kind of thing.

That seems as though you’ve just made it up, have you any evidence to suggest it?

Most businesses, rightly, have a far longer memory than that for people who have had them over.

Oh, and you come across as pretty bigoted about banks. If you too have struggled to repay what you owe them then that was your fault, not theirs.

sourcrates

John_G_Jones wrote: »

Oh, and you come across as pretty bigoted about banks.

Do I ....oh

John_G_Jones

sourcrates wrote: »

The information is normally in the public domain, or you can simply ask the bank or company concerned.

Yes, I do don`t I

It colours your advice to the point that it is useless in many cases.

You seem to say whatever will be most likely to stop banks getting their money back, not what is best for the person asking the question.

sourcrates

John_G_Jones wrote: »

It colours your advice to the point that it is useless in many cases.

You seem to say whatever will be most likely to stop banks getting their money back, not what is best for the person asking the question.

"If you want to continue to be slaves to the banks, and pay the cost of your own slavery, then let bankers continue to create money and control credit".


josiah stamp.