A requirement to provide data to cra's

[mberman]

Does anyone know if there is a law that allows finance companies to process our data to the CREDIT REFERENCE AGENCIES as in a defence to my counterclaim one does state that they are REQUIRED to provide cra's with accurate information.

 

The problem being is that if you dispute a credit agreement with your finance company how can they be sure the data they process and pass over to the cra's is accurrate! The data protection act states that the data should be processed fairly or accurately. So if there is a problem which is found further down the line with agreements or default notices etc... It means the finance companies have unlawfully processed your data.

 

It seems unfair that the data is too easy to be processed and added to the cra's lists which then affects your credit rating giving the finance companies a big advantage leaving the defendant's disputing the agreements etc.. disadvantage surley the way out of this is for the courts to decide if the agreements are right or wrong and only then allow the finance companies to publicly display the data on the cra's lists.

[tifo]

Does anyone know if there is a law that allows finance companies to process our data to the CREDIT REFERENCE AGENCIES as in a defence to my counterclaim one does state that they are REQUIRED to provide cra's with accurate information.

 

Ask them under what law they are required to send data to CRAs. As far as i am aware, it is an industry practise not based on any law. Nothing to say they have to send info and nothing to say this has to be for 6 years or more.

 

The law used for data retaining is the Data Protection Act 1998 and that doesn't specify anything with CRAs. It does state that data has to be accurate.

[mberman]

Many thanks Tifo,

 

I have added this to my Counterclaim these Finance companies need to comply to the Law and not what they think is right!

 

Thanks again