GDPR & arrears

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  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    slapmatt wrote: »
    Tat's not my problem though, it is?

    Apologies if I ever suggested it was. :)~
  • Nasqueron
    Nasqueron Posts: 8,768 Forumite
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    slapmatt wrote: »
    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.

    Because that lender doesn't know with the CRAs what other credit you have or other problems, hence would simply refuse to lend you anything.

    Whatever the merits and pitfalls of GDPR, it will not allow people to escape their past bad credit history, which is wiped after 6 years anyway
  • shortcrust
    shortcrust Posts: 2,697 Forumite
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    It took me three minutes and a couple of google searches to see that the CRA's seem very well prepared for this and that ideas of 'bloody noses' are fantasy.
  • Bluetonic123
    Bluetonic123 Posts: 48 Forumite
    I didn;t think it would work. I have a CC and 2 catalogue accounts that I have paid off but at one point I got into a massive pickle so was behind on all of them. I have been so good for the past 2 years and am much more disciplined and would be nice if the late payments would disappear faster.

    Nevermind, it's wishful thinking :-)
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Bluetonic123 wrote: »
    I didn;t think it would work. I have a CC and 2 catalogue accounts that I have paid off but at one point I got into a massive pickle so was behind on all of them. I have been so good for the past 2 years and am much more disciplined and would be nice if the late payments would disappear faster.

    Nevermind, it's wishful thinking :-)

    That's not what GDPR or the right to be forgotten is used for.

    People don't seem to understand GDPR and will try this, and won't like it when they get shot down.....
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Probably with pointing out that it also doesn't work with speeding points, tax bills, police records....
  • slapmatt
    slapmatt Posts: 104 Forumite
    shortcrust wrote: »
    It took me three minutes and a couple of google searches to see that the CRA's seem very well prepared for this and that ideas of 'bloody noses' are fantasy.

    I dealt with a number of companies in the last few months who claim "legitimate use" of data, but use very ropey (in my opinion) methods of collection without a subjects permission.

    Unfortunately, the regulations are very much open to interpretation. There will be a number of court cases in the subsequent years in order to clarify the specific rules.
  • Nasqueron
    Nasqueron Posts: 8,768 Forumite
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    Agent16f wrote: »
    Just also been through this at work, Registry Trust supply information on fines/judgements for legimate public interest.

    How is supply this to a commercial entity that is then selling a service onto private financial institutions a public interest.

    My though would be many might try to ask them to stop processing the information.

    Many might. Many will be refused.

    Move on, nothing to see here
  • nic_c
    nic_c Posts: 2,928 Forumite
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    If there is a legitimate reason for them to use this to do their business, then they can refuse. So as a means to allow lenders to do a risk assessment on new customers, then that is legitimate. As to other options, like marketing, selling your names to card providers to attract you as a new customer, that's different, but you can't opt out of the core business, i.e. collating your data from companies you have contracts with and providing that information to other lenders for whom you are either a new or existing customer who wants to check your credit.

    People really do misunderstand GDPR - on BBC moneybox it was on about how a lot of small organisations are panicking because they don't understand it. You will not get your credit file deleted due to want to be forgotten in the hope of getting one over on the system.
  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    I suspect we can all look forward to paying increased prices for most services, as the flood of free SARs come in.

    Financial Services firms in particular will have a huge cost they'll need to cover through APR increases.
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