Equifax tips for consumers

[BRIGADIER2JCS]

Just read that again and consider that IMHO the selling of our data

gleaned from OUR credit files is an unfair business practice, going to print that out and send with my submission to

my MP.

[BRIGADIER2JCS]

Lets all that the whole thing of government depts. using CRA's goes pear shaped.

[BRIGADIER2JCS]

The DCA's Cannot sell or pass on your details other than to the companies who are providing

the information, the CRA's don,'t gather the information it is supplied to them

[BRIGADIER2JCS]

It is interesting Martin, as I use all the CRA's for work had a look at some sample ''listings''

on the address list it is basically a phone book disc, the other note a household that has perhaps

had insurance quotations etc .

 

All of seems to be no more than any marketing agency in house out would have on file.

BUT I STILL DON'T LIKE IT:!:

[BRIGADIER2JCS]

The crux of the matter is I think that a very great deal of the time the public are not

made aware that they can opt out ,or the option to do do so is small and or hidden away,

there needs to be greater transparency.

Edited July 9, 2011 by BRIGADIER2JCS

[BRIGADIER2JCS]

I might be sounding cynical but I love the comment in the 'guidance on defaults' where unresolved disputes mean difficult decisions are to be made. Ahem, I've never yet seen a creditor issuing a default notice with one iota of concern for the (alleged) defaulter whatsoever. They happily will take your money and default you because, dependant on their own 'points' system the notice will just 'click in'.

 

Michael

 

Surely a default notice is issued by the creditor to give the

debtor an opportunity to rectify the dispute and not incur

any further charges or penaties.

[BRIGADIER2JCS]

Well I guess they will still accept your payments () however for 6 years that default is around your neck wheather or not you pay the debt off. A potential creditor does not look at the word 'satisfied' but 'default' and as one sees on a CRA file it's in red, it is to someone who searches.

Michael

 

Well if you fail to rectify the default, what do you expect, rectify the arrears then no default entry.

[BRIGADIER2JCS]

I'm sorry but the default will remain even if you clear the debt. The entry might well say 'satisfied' however the default stays (and shows as such) for the 6 years and any potential creditor will see it.

Michael

I see you are confused if you receive a default notice and rectify

the default within the time scale allowed there will be no default

to record.

[BRIGADIER2JCS]

Maybe confusing this with a late payment marker ?

 

Sounds possible.

[BRIGADIER2JCS]

Agreed DX,

Michael, Why shouldn't the crditor mark

your file with a default when as DX quite rightly

says according to your theory you have had

2 months to rectify the default.

Any variation of the ''agreed'' amount payable

either reduced payment or late payment constitutes

a default on said agreement.

You should also note that the ''procedures'' on placing

defaults, over limit and late payment markers varies

quite considerably between financial services companies,

card providers and banks etc.

[BRIGADIER2JCS]

I doubt the OC would tell you, Call Credit( Noodle) is not

widely used by major lenders.

You should check Experian (Credit Expert) and or Equifax

both have 3o day free trials.

[BRIGADIER2JCS]

Just found that on the moneysavingexpert.com a helpful list of major companies and which credit reference agencies they use. Hope it helps everybody. You just type in name of Co (M & S in my case) and it told me they use Experian and Equifax. Yippee

 

This list has been around for sometime, but the major lenders flit around sometimes using on exclusively or the any

combination, it seems sometimes to vary on the type of account, which is why when an individual is declined credit

they are advised to ''check their credit files''.

[BRIGADIER2JCS]

No, not unless the company that placed

the entry agrees, the CRAs cannot unilaterally

remove or change entries.

[BRIGADIER2JCS]

How cum equifax can remove the default but the rest will not?

 

Quite simple they will have investigated/made enquires of the

company that bplaced the entry.

[BRIGADIER2JCS]

You MUST contact the company that placed the default first!!!!!!!!!!!!!!!