We own the Data!!! Time for Class action

[Sol]

Thanks for clarifying! But do you think that is is FAIR that an 80 year old man who probably behaved honestly and responsibly (I am making an assumption) throughout his life has to go through this sort of embarrassment...Simply because he does not fit the box. This is only acceptable in a totalitarian system. Where I come from (France) if they had such a system heads would start rolling...again....

My Granny is 86 and and she never borrowed anything in her life and has a substantial savings, all she had to do to get her contract is to show them a copy of her passport, a cancelled cheque and proof of address.Had she had a default the cancelled cheque would have been rejected and she would have been advised to contact the Banque De France.

 

No it's not fair, but that's based on the company's criteria for credit, nothing to do with the CRAs.

 

I'm not defending the system as is, but it's got to be appreciated that they need something to monitor peoples credit management. I don't think it matters whether it's private or publicly owned, however, I think it should be one organisation and not the three we currently have now.

[diddydicky]

i think three is good

 

i've had an ocassion in the past where one company has refused credit and another granted it because they've used different CRA's and not all have the same information!

[crew74]

Unfortunately credit is cheaper these days than paying upfront!!!You will agree that a mobile phone on contract is a lot cheaper than a prepaid where the comm price is through the roof, same for utilities.So not getting credit turns out to be more expensive than living on credit and that is where the blatant unfairness lies.

[crew74]

if they had no credit record i think id be suspicious ( they could be immigrants and could disssapear without trace after i lent them the money) and would probably do the same.

 

I think that's quite a political view of the world..

So not to be "suspect" people ought to have a credit record, whether they have any use of it or not, and be born and bread in the UK???Additionally there is a GAIN section in the credit file ( gone away record means you've vanished).So if you were a fraudster migrant you could care less what they've put in you're credit file because you would borrow the money at 45 % APR and disappear. The fact that it is private makes a big difference when it comes to the neutrality of the CRA. It also entices CRA to manage more data than they can. Thus it creates a massive mess (how many John Everybody have had their lives messed up by inaccurate data???) takes years to sort out and no one is responsible in the end because John Everybody does not have the means or time or both to fight the Big Boys. In addition the CRAs do not have any evidence of how much people earn it's all based on what you first declared, but we all know that people change jobs, get promoted, get demoted or lose their job, adverse data is not verified either.For it to be efficient it would require a neutral financial tribunal which records Defaulters after substantial attempts have been made to recover the money and no arrangement whatsoever could be reached.Credit should be obtained on hard evidence only or with a guarantor. IE you can apply online and get a principle decision but the deal only goes through once the supporting documents (payslips proof of address and identity) have been submitted.

Edited April 24, 2009 by crew74

[crew74]

...

[diddydicky]

mmmmmmm getting too personal for my liking ink ill abandon this thread now