Complaints against Credit Reference Agencies

[citizenB]

A cagger has asked me to start a thread in respect of complaints against Credit Reference Agencies.

 

The Link below is to an American article.

 

http://www.housingwire.com/articles/34870-cfpb-complaints-against-credit-reporting-agencies-rise-sharply

 

It would appear that complaints there against CRAs has risen considerably.

 

 

 

Consumers frequently complain of debts already paid or debts not yet due showing up on their report, negatively affecting their credit scores, the CFPB said.

 

Additionally, consumers complain frequently about having trouble accessing their credit reports. According to the CFPB report, consumers say that the credit reporting agencies’ “rigorous” online identity authentication questions contribute to their frustration.

 

And if consumers are unable to access their credit report via the Internet, they feel burdened by having to send copies of sensitive, identifying documents through the mail, which consumers feel is time-consuming and potentially unsecure.

 

 

Two of the 3 most complained about agencies are Experian and Equifax.

 

I seem to recall that we have had several complaints about CRAs on CAG - one that comes to mind is where an Agency provided credit information to someone they shouldn't have. (I will try and find the thread and link it)

 

 

 

The Court of Appeal has ruled that the CRAs are not obliged to ensure absolute data accuracy !!

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?408312-Credit-reference-agencies-not-obliged-to-ensure-absolute-data-accuracy-says-Court-of-Appeal

 

Credit reference agencies (CRAs) that take reasonable steps to ensure the personal data they hold about individuals is accurate should not be open to compensation claims from individuals if it turns out the data is incorrect, the Court of Appeal has ruled.

[citizenB]

http://www.consumeractiongroup.co.uk/forum/showthread.php?428732-Errors-that-could-cost-you-a-mortgage

[citizenB]

http://www.consumeractiongroup.co.uk/forum/showthread.php?423223-Changing-my-name-was-only-way-to-escape-debt-hell

[citizenB]

http://www.experian.co.uk/about-us/dispatches-response.html?intcmp=exphp-dispatches-240214

 

In 2014, Dispatched aired a programme that was quite damning of CRAs, Experian have their response on their website - link above.

[citizenB]

So, going back to the first post, it would appear that there are many complaints in the UK regarding the accuracy of CRA records - however, we have a toothless ombudsman - Information Commissioner.

 

So it will be interesting to see the outcome of the American complaints.

[citizenB]

More information in respect of the Court of Appeal Judgment.

 

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

 

 

 

 

 

http://www.out-law.com/en/articles/2013/february/credit-reference-agencies-not-obliged-to-ensure-absolute-data-accuracy-says-court-of-appeal/

[citizenB]

My main gripe is that the CRAs earn big money out of our data - why should we have to pay to obtain a copy of that information to ensure its accuracy ?

 

I sent a Subject Access Request to the 3 main agencies for myself and OH and found much more information than you would see on the £2.00 Statutory report.

 

OH finally decided to sign up for a 30 free trial for one of the agencies, simply because they were not returning the statutory reports in the correct time they are obliged to comply in.

[catquest]

I have evidence that Experian provided personal details ( not shown in a normal credit report ) about a bank loan to a DCA who had nothing to do with that particular loan.

[citizenB]

I have evidence that Experian provided personal details ( not shown in a normal credit report ) about a bank loan to a DCA who had nothing to do with that particular loan.

 

thanks for posting catquest, I was actually looking for your thread so I could link it. Here it is.

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?434015-CRA-there-is-more-than-they-show-us

[hessey50]

I have had a long running issue with welcome finance over the return of a car no doubt at all the correct form of wording used ( my own co workers in legals services wrote it sent by acknowledged fax and admitted they had "chosen" to treat as vol surrender" ) as enough had been paid to return it finally having not produced when told to put up or shut up nothing on credit file then suddenly a search with the reason Debt Collection from robison way I owe them nothing any thoughts on this new approach to get money?

[citizenB]

hessey, it might be an idea to start a new thread with this situation.