Enter a Default against a Bank

[Antigravity]

Hi,

 

Does anyone know if it is possible to enter a default against a financial institution?

 

I know you can effectively sue them over owed monies, but if they refuse to pay before court action is taken against them, can a default notice be entered with the Credit Ref. agencies.

 

Anyone with any knowledge?

 

AG x

[natalie]

That would be so funny

[BankFodder]

Once they have a CCJ against them then it can happen.

 

Actually, I have just learned that the banks have hundreds of CCJs against them. I am trying to find out how to get a list.

[kizel]

Does anyone know the answer to this yet???

 

I would love to do that

[kaznelson]

BF- Will the Registry of CCJ not supply this information??

 

I know when a CCJ is registered, Financial Companies obtain the information and contact the Defendant offering their services etc.

 

Just read the cross-post!!!

[kizel]

BF- Will the Registry of CCJ not supply this information??

 

What is that and where can i find it?

[lee6370]

http://www.registry-trust.org.uk

[simonjohn]

Hi,

 

Does anyone know if it is possible to enter a default against a financial institution?

 

I know you can effectively sue them over owed monies, but if they refuse to pay before court action is taken against them, can a default notice be entered with the Credit Ref. agencies.

 

Anyone with any knowledge?

 

AG x

 

The thing is the banks are in an enviable position with regards to this as they are free fom the bonds of credit scoring, unlike us mere mortals. If the likes of you or I have a default or c.c.j registerd against us we would be Royaly shafted for 6 years.

 

However the major banking institutes can have multiple c.c.js without any effects, Bummer is'int it !!!.

 

Perhaps the way to go might be including the names of the directors of the major banks in any county court claims, "Could this be possible ?" Then at least it may have more impact on their own personal credit rating and possibly have an Impact on their fittness to hold a Directorship.

 

Especially in light of the vast increase of the forthcoming court claims

[BankFodder]

Perhaps the way to go might be including the names of the directors of the major banks in any county court claims, "Could this be possible ?" Then at least it may have more impact on their own personal credit rating and possibly have an Impact on their fittness to hold a Directorship

Not possible. You have to have very special circumstances to "pierce the corporate veil".

[seylectric]

I think it's an absolute disgrace how banks and companies can screw up your credit rating, but you can do nothing about them.

 

The way the credit reference agency system works is ridiculous. For example, a company can place a default notice on my file saying that I owe, for example, £500 - yet that company might owe me even more if I take them to court for compensation I feel I am owed.

 

I can ask the credit reference agency to remove the entry, but if the company does not agree, they won't. I think it's ridiculous that inaccurate information is allowed to remain on your file on the say-so of the company concerned, and I am considering threatening the credit reference agency for defamation of character for allowing inaccurate inforamation to affect my credit rating.

 

I don't know if there would be any "mileage" in this but their response might be interesting.

[BankFodder]

The porblem is that in order to attack the CRA you will need to have a successful claom againt the bank under your belt.

You can be quite sure that teh CRAs are receiving poorly worded threats of defamation every day and that they are automatically filed in the BIN with no manual intervention.

 

You are right that it is a scandal. Anyone want to attach a claim for a wrongful default to their Small Claims action for recovery of charges - let us know.

[Antigravity]

So I guess we are all at the mercy of the CRA's.

 

I applied for my CRA file from Equifax. It's ridiculous, the way its set up is so anti-consumer its unreal.

 

I had a DD returned from to Orange for my mobile bill. It's listed on my CRA file as a month late.

 

Back to my original thread. My bank are threatening to default my account, but claim that they can do this before a CCJ is applied for, yet its not the same for me. I have to have a CCJ in place against the bank, then can enter a default.

 

Thats sick!

 

AG

[Robertxc]

Antigravity, do yourself a favour and don't go anywhere near the CRAs with this stuff. you might as well have an arguement with your pet Labrador. The CRA will simply (and correctly) point out that they are Data Processors and not Data Controllers. In other words, they only process data on behalf of their clients (the banks), and any problem you have should be taken up with them.

 

These people are extraordinaly difficult to deal with. The letters they send out are made up of pre-prepared paragraphs which they copy and paste into the letter depending on the subject, and what they want to say. The effect is rather weird, to say the least, and several orders of magnitude more irritating than speaking to some bank's call centre monkey. And If you do manage to get one of them on the phone you will be imediately struck by how stupid are.

[rippedoffagain]

Antigravity, do yourself a favour and don't go anywhere near the CRAs with this stuff. you might as well have an arguement with your pet Labrador. The CRA will simply (and correctly) point out that they are Data Processors and not Data Controllers. In other words, they only process data on behalf of their clients (the banks), and any problem you have should be taken up with them.

 

These people are extraordinaly difficult to deal with. The letters they send out are made up of pre-prepared paragraphs which they copy and paste into the letter depending on the subject, and what they want to say. The effect is rather weird, to say the least, and several orders of magnitude more irritating than speaking to some bank's call centre monkey. And If you do manage to get one of them on the phone you will be imediately struck by how stupid are.

 

 

Experian were very good for me last year, I subscribed to credit expert online for one year. When you query anything on your file, they very quickly add a note, worded in such a way as to imply that the file information should be treated as suspect.

[Robertxc]

Absolutely! BUT, try going behind their systems to talk to them direct about something they don't run into routinely, and see what happens.

[Spiceskull]

Is Equifax still a CRA? If so, then I may be able to get inside information from some (ahem...) friends who have been with them for a long time...

[Robertxc]

Equifax is one of the three main CRAs, along with Experian and (I think) Call Connections.

[Spiceskull]

Okay - I'll ask around and see what back doors I can find. I can't promise anything, but it doesn't hurt to ask, and to call in a few favours...

[seylectric]

Call Credit is the third one.

 

Contact addresses for all three:

 

Experian Ltd

Consumer Help Service

PO Box 8000

Nottingham, NG1 5GX

http://www.experian.co.uk

 

Equifax Plc

Credit File Advice Service

PO Box 3001

Glasgow, G81 2DT

http://www.equifax.co.uk

 

Callcredit plc

Consumer Services Dept

Park Row House

19-20 Park Row

Leeds, LS1 5FJ

http://www.callcredit.co.uk

[Spiceskull]

I have to disagree with Robert:

 

...The CRA will simply (and correctly) point out that they are Data Processors and not Data Controllers. In other words, they only process data on behalf of their clients (the banks), and any problem you have should be taken up with them...

 

Checking the information Commissioners website, and specifically the entry for Equifax:

 

"Registration Number: Z6564696

 

Date Registered: 26 July 2002 Registration Expires: 25 July 2006

 

Data Controller: EQUIFAX PLC"

 

This states categorically that they are a Data Controller - and as such they need to discharge their duty as per their license and membership...

 

http://www.esd.informationcommissioner.gov.uk/esd/DoSearch.asp

 

(Wonder if they will remember to renew their registration...)

[Spiceskull]

Sorry - just realised that the link provided is an asp page, and the info won't show. You need to do a search with the following info:

 

Data Protection Registration Number: Z6564696

 

That's what I did...

[Robertxc]

Not quite, I'm afraid.

 

If you become a client of Equifax they will obviously keep a record of that contact. In this instance, they are indeed the Data controller, because that information is gathered by them for their own purposes. However, when it comes to data which they process on behalf of their clients (i.e. yours and mine credit reference files, as supplied by various banks etc.), they are deemed to be the Data Processor because they only handle the data, and don't actually do anything with it. Equifax themselves will never make any decisions about your credit worthiness, and they don't/won't do anything at all with your credit file unless they are instructed to by the Data Controllers, which are the banks.

 

In simple terms, they are Data controllers for their own information, which they use for their own business purposes, and they are Data Processors for the information which they simply handle, or process, on behalf of their clients.

[seylectric]

Equifax themselves will never make any decisions about your credit worthiness, and they don't/won't do anything at all with your credit file unless they are instructed to by the Data Controllers, which are the banks.

 

I understand your point, but by publishing the information they are effectively "making a decision" about your credit worthiness, especialy when in the event of a dispute regarding the information they make available, they themselves decide that the information remains on file if the company/bank concerned says it is correct, i.e. you can say it is wrong but the agency will always "side" with the company. They have explitly refused to publish a comment from myself stating that the entry was incorrect and that I did not default on the account, and the total said to be owed to the company is incorrect. It is therefore ultimately Equifax (in this case) that are deciding what my credit rating is by agreeing to publish the information against me but not allowing my defence to be published.

[Spiceskull]

Controller or Processor - they still have a statutory duty to ensure that the data they hold is accurate. Just because the bank says it is, does not necessarily make it so, in much the same way that banks say that charges are legal.

 

Data controllers/processors need to ensure accuracy through their own efforts, and merely accepting the word of a client is a dereliction of duty...

 

If they suspect that a bank has provided incorrect information, or have had this suspicion raised to them, they must take steps to correct this, in much the same way as a bank must investigate when it believes a client is involved in activities that break the law.

 

I may be wrong, but I will try to find out more on this subject.

[seylectric]

Controller or Processor - they still have a statutory duty to ensure that the data they hold is accurate. Just because the bank says it is, does not necessarily make it so, in much the same way that banks say that charges are legal.

 

 

I may be wrong, but I will try to find out more on this subject.

 

 

That's pretty much what I am getting at. My argument with Equifax is that they are deciding what goes on my file and what does not; i.e. they are choosing to accept that the bank or company is correct and the customer is wrong.

 

As a result I think that, due to inaccurate information, Equifax are directly responsible for the fact that I am, for example, paying 29.9% APR on my car loan because It was the best deal I could get.

 

I would be grateful for more info on this.