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help with experian credit report


cavvy
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hi all

 

just looking for some advice re my credit report i got from experian recently

 

i used to have my current account with hsbc however when i started to reclaim my charges against them i paid every thing off except my overdraft which totalled the amount i was claiming in charges

 

however i eventually got a letter from a debt collection agency which i immediately paid

 

have just noticed on my credit report that under the hsbc entry it states

 

status default

 

balance satisfied

 

can anyone explain what the term satisfied means and will it always show as default? is there any way to get this amended?

 

any help or advice much appreciated

 

thanks

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Satisfied means that there is no balance outstanding and that the default balance has been settled.

 

The default will stay on your credit file for 6 years from the default date.

 

There are a huge number of threads in this forum which are in connection with attempting default removal!! Time for some reading.

 

BobbyH

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I have has the same and wrote a letter of complaint

May I draw your attention to the fact that the HSBC subscribes to the Banking code of Practice, I am aware that this is a voluntary code, but once your company has subscribed to it then it becomes binding to you in relation to you and your customers.

 

I feel that it is absolutely scandalous that you do conduct your business in line with this code of practice. Furthermore it is likely that subscribing to a code of conduct and then not abiding by its terms – or by not notifying customers that some terms of the Code won’t apply would be an unfair commercial practice under the new CPUT regs

 

Para.13.6 of the Banking Code states very clearly the conditions which must exist before personal data will be passed to the Credit Reference Agencies under the contractual permission to share data with third parties:-

 

You must be behind with your payments

  1. The debt must not be in dispute

The debt was always in dispute, HSBC just failed to accept I had disputed it, or acknowledge this. (if you are able to look at my account as I had many conversations with telephone banking to resolve the situation and requested that

  1. The bank must have given you a formal demand with reasonable time to respond

The formal demand was issued and I had agreed to pay the money back even going as far to set up a direct debit, why would I do this if I had no intention to pay ( I can evidence this direct debit from my current bank account). I had told your staff I could not pay Augusts but did manage to pay an amount (£50 I think!), yet you still sent my account to Metropolitan for collection in September.

  1. Your response must be unacceptable to the bank

I feel my response was acceptable given I had set up a direct debit and that I was not even given the opportunity to repay the money, even when I went into a HSBC branch to see what had occurred no information was provided as my account had been closed. It took a further two months before I conceded defeat and paid off the debt collector in full.

I feel that these conditions were not met and therefore the communication of negative information to the Credit Reference Agencies was unlawful as it is not carried out under the terms of the account contract.

 

May I also point out that the three Credit Reference Agencies (Credit Reference Agencies), Experian, Equifax and CallCredit are not constituted by an Act of Parliament. They hold no official Govt. power, your bank was allowed to supply them with information about my account not because you are legally allowed to, but simply because I agreed to it via my contract, which in this case is no longer valid.

Furthermore the Credit Reference Agencies are allowed to hold any data about me that is deemed in the public interest or in the public domain. Things like Bankruptcy Orders and Discharges, CCJs, IVAs, etc. are public information, and I cannot stop Credit Reference Agencies holding this information. As they do have legal right to hold JUST these on their records because there are actual Laws that allow them to do so, and judges have signed the Orders in all these types of cases. However, agreement 'defaults' do NOT come under those Laws, unless they have been progressed to a CCJ, etc, which is not this case .

 

When you and the Credit Reference Agencies reply with “it’s our legal right” to record and keep my information you are talking nonsense. The legal right to which you refer is simply the ‘lawful right’ because I gave permission. That permission can be withdrawn at any time according to my rights under the Data Protection Act.

Also any individual is allowed to inform any Data Controller to cease to process your data in any fully-automated process. The Data Protection Act states quite clearly that this includes processes that e.g. “affect your creditworthiness”. Which in this case is exactly what I requesting that you do.

To put this succinctly once the contract ends, nearly all the clauses also end. The lender does have some rights to prove monies owed and then pursue them lawfully, but my argument is essentially that other clauses all end, and the lender cannot arbitrarily choose to assume that the disclosure of Data clauses can carry on. This is a proposed change of contract that you are trying to impose and is therefore unfair and unenforcable under the UTCC Regulations.

 

As you will be aware that all Data Controllers have a duty to protect personal data, and must hold a Data Protection Act licence to hold and process data. However, this licence does not allow them to disclose data without my express written permission – it is a criminal offence to do otherwise, except for reasons of national security, taxation, health, etc, which again is not this case.

I have formally requested that you desist from processing my data, and remove this default simply because I feel you have not met all the conditions of the code of the Banking Code of conduct, and that you are also in direct breach of the Data Protection Act.

The person responsible for data control in HSBC now has 21 days in which to conform to my request, or to write to me giving lawful reasons as to why my request should be not be exempted. To do so, they would have to prove a legal Statute, a Common Law case, etc… but none exist. So please do not simply imply you have a “legal right”, as you do not. You may believe you have ‘lawful right’ under the contract Law that we agreed when I signed the contract, but please be mindful that this contract no longer applies.

My written permission allowing HSBC to continue processing, or disclosing, my personal subject data was revoked upon termination of that original contract and I hereby reiterate that revocation. I also do not recall receiving any such Notice of Default being served on me, as required by the conditions of the Consumer Credit Act 1974. Unless the Bank can provide a true copy of the said Notice, then I consider that any default entry on my credit files to be wholly unwarranted.

 

However, if you can supply the copy, then I also contest HSBC’ continued processing on the following grounds.

 

As you are aware, I am afforded principled rights under the Data Protection Act (Data Protection Act), Schedule 1, Part 1 ("The Principles") in relation to the manner in which my data is collated, stored and processed. Of particular note, are Principles 3, 4 and 5:

 

“3. Personal data shall be adequate, relevant and not excessive in relation to the purpose or purposes for which they are processed.

 

4. Personal data shall be accurate and, where necessary, kept up to date.

 

5. Personal data processed for any purpose or purposes shall not be kept for longer than is necessary for that purpose or those purposes.”

 

In my case, HSBC is still processing data after the cancellation of the contract, whether or not this is a simple renewal process of the default flag, daily or by other timing factor. As that contract is no longer in situ, then my written permission has also ceased from the date of cancellation.

This is confirmed in Principle 2 of the Data Protection Act, which states:

"2. Personal data shall be obtained only for one or more specified and lawful purposes, and shall not be further processed in any manner incompatible with that purpose or those purposes."

 

I emphasise the term "specified and lawful purposes" as in ‘those specified within the contract’, and no more. I also emphasise the term "shall not be further processed".

 

Please do not waste my time writing to me in relation to “credit law”, “six-year permissions”, etc… There is no credit law permission, and the Data Protection Act overrules contractual Law when it comes to my rights.

The six-year ‘rule’ that you so liberally quoted, is simply confused with County Court orders… such as bankruptcy, CCJs, that only a judge can sign., and unless I am very much mistaken Banks and Credit Reference Agencies cannot sign Court orders.

I am putting you under formal notice that if the Data Controller fails to show reasonable cause to try and exempt my notice, then I will go to the Information Commissioners Office and ask them to enforce my Notice.

I will also apply to the Court and issue a Court Claim to ask a judge to enforce your Notice, and any fees that I encounter I will claim back from HSBC via the court from HSBC’s Data Controller as it will be my intention to claim for reasonable costs, damages, as I believe that this default has prevented me from successfully applying for a new mortgage.

I am await your response I will be forwarding a paper copy of this letter to you at the above address, but an you please confirm via email that this information has been received.

Incidently the guy you want to send the info to is Tom Yates - Service Quality Manager (what a joke) and you can email them at [email protected]

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