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Legal obligation to share with CRA


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Hi,

I hear all the time that creditors or CRA's state that a company has a 'legal obligation' to share information with Credit Reference Agencies.

 

I interpret this as they're suggesting there is some sort of law somewhere, there isn't is there?????

 

It's just a 'contractual' issue that you agree to at the outset of your contract isn't it?

George Loveless - “We raise the watchword, liberty. We will, we will, we will be free!"

 

My advice is only my opinion, I am not a legal expert.

 

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No legal obligation. Just guidelines. Many companies dont report at all.

 

You are right about contractual terms though as you can and do give permission to report.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

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T&C's typically

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Interesting read for those with CRA problems:

 

Appeal Court Judgement 25th February 2013 (Lord Justice Davis) on accuracy of data.

In General the CRAs are regulated by the DPA 1998 (as amended) and 'rules' laid down by The Dept. Of Business and Skills.

 

Latest from Europe Sept. 2013:

 

Title: Towards Better Usage of Credit Reporting Europe.

 

Ref: CEPS-ECRI Task Force Report: September 2013.

 

 

See also Corporate Law and Governance: The Credit Rating Agencies Regulations 2010.

Edited by BRIGADIER2JCS

Any Letters I Draft are N0T approved by CAG and no personal liability is accepted.

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Is this the case referred to http://www.bailii.org/ew/cases/EWCA/Civ/2013/108.html Widely discussed on here. (Smeaton)

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