Recurring credit scoring

[Chrissielr]

Due to my ongoing claim against Lloyds and their decision that as I am dispute on my current account, I must also be in dispute with my loan account, I have a lovely 6 months in arrears notice sitting on my credit file.

 

Recently this has hit back at me twice as two other creditors, First Direct and Next, have run the monthly credit scoring (which I apparently gave them permission to do when I opened my accounts), and decided I am a bad risk. First Direct have withheld my cheque facility and Next have dropped my credit level by £1000.

 

Has anybody had this experience before/ is there anyway I can revoke the permission I gave to run continual credit assessments??

 

[Chrissielr]

Anybody there??

[car2403]

Of course you can revoke your permission to allow them to search your files willy-nilly, but they also have the right to withdraw your credit facilities and demand repayment by terminating your agreement with them - this is a bit tit-for-tat, if you ask me.

 

Rather than withdrawing your consent to search, it would be better to deal with the thing causing you the issue - the arrears recorded by Lloyds. Do you have a thread for this claim, so I can take a look?

[sillygirl1]

This is what Experian have been touting lately - their 'Risk Factor Assessment' ie one late payment mark and your entire credit rating is shot to pieces - no excuses and no comeback.

 

I believe it should be made illegal as you do not want Experian giving everyone who looks at your account the knowledge that you have a late payment... my last late payment was because Virgin Media sent my bill to a DCA instead of my new address - their excuse was they didn't have my new address - which was bull.

[car2403]

Late payment markers are factual information - if they have their facts wrong, challenge them! If you did miss payments, they have a contractual right (your consent) to process those markers with the CRA's.

 

Incorrect factual information = incorrect payment markers = a Court claim for removal, in my eyes...

[Chrissielr]

Of course you can revoke your permission to allow them to search your files willy-nilly, but they also have the right to withdraw your credit facilities and demand repayment by terminating your agreement with them - this is a bit tit-for-tat, if you ask me.

 

Rather than withdrawing your consent to search, it would be better to deal with the thing causing you the issue - the arrears recorded by Lloyds. Do you have a thread for this claim, so I can take a look?

 

Hi there

 

No I don't have a thread for the Lloyds loan problem. Briefly, I applied for a payment holiday in September last year and they refused as I am reclaiming charges on current account and they told me that as far as they are concerned if I'm in dispute with one account I'm in dispute with all. Hence I stopped making payments on the loan, sort of thinking it might push them into a settlement, but now they've recorded my account as in arrears.

[Chrissielr]

This is what Experian have been touting lately - their 'Risk Factor Assessment' ie one late payment mark and your entire credit rating is shot to pieces - no excuses and no comeback.

 

I believe it should be made illegal as you do not want Experian giving everyone who looks at your account the knowledge that you have a late payment... my last late payment was because Virgin Media sent my bill to a DCA instead of my new address - their excuse was they didn't have my new address - which was bull.

 

Can you prove that they did have your new address? I've got a complaint with the Data Commissioner going on at the moment because of a 1 month in arrears marker by First Direct on my current account, full story here http://www.consumeractiongroup.co.uk/forum/data-protection-default-issues/116160-unpaid-cheque-recorded-arrears.html

[car2403]

Hi there

 

No I don't have a thread for the Lloyds loan problem. Briefly, I applied for a payment holiday in September last year and they refused as I am reclaiming charges on current account and they told me that as far as they are concerned if I'm in dispute with one account I'm in dispute with all. Hence I stopped making payments on the loan, sort of thinking it might push them into a settlement, but now they've recorded my account as in arrears.

 

If the payment arrears are factually correct, you'll have a difficult - if not impossible - time getting them removed.

 

I'd be questioning their argument about all accounts being in dispute, as this clearly isn't the case! Your best attempt to get this corrected is to complain to the FOS, as they are clearly in breach of OFT Debt Collection Guidelines and the Banking Code by stating this and shouldn't be refusing payment holidays on the basis another account is in dispute, IMO.

 

Having said that, a payment holiday **probably** has to be agreed in advance. They didn't agree - you didn't pay under the terms of your contractual agreement.

 

I can't see how you can get the payment markers removed, as they are technically right. If you can query their decision surrounding refusal of giving a payment holiday, that will be the best approach in your case.

[rh999]

as Lloyds have admitted themselves your loan acct is in dispute they cannot process info on it to CRA's

 

banking code as follows;

 

The current Banking Code (Section 13.6) states: We may give information to Credit Reference Agencies about the personal debts you owe us if:

• You have fallen behind with your payments,
  
• The amount owed is not in dispute; and
  
• You have not made proposals we are satisfied with for repaying your debt, following our formal demand

send them the letter on this link. they will have to remove the info on your credit report.

 

Account in Dispute Letters - Consumer Wiki

 

hope this helps