Hello groupies,
Something I've never understood, (well, one of them): How are companies ALLOWED to give my personal and private details to a third party, i.e. credit reference agencies, without my consent or knowledge? And how are these agencies allowed to pass this confidential information on to whoever wants to pay for it ? Surely this should be ILLEGAL.
Peter Lawless
They're registered with the Data Protection Act, where they explain in detail who'll they'll give information to and for what purposes, if you don't like what they've registered what they'll do with it, don't give them the information and go elsewhere.
Jim.
They ask for your permission to pass the information to the credit agency. You will see it buried in the small print in the credit agreement somewhere.
They're not. However, when you enter a credit card agreement it will be written in the small print that you give them permission to do this.
Because you'll give them permission when you apply for credit.
Without a hint of irony, "peter lawless" astounded uk.finance on 27 Jun 2004 by announcing:
Ummm... you have given them your consent and it is with your knowledge.
Because the law says they can provide certain information to certain people. For instance, the account information that CRAs release to a bank conducting a search contains your account type, payment history, credit limit, and current balance. It does not, however, contain account numbers or even the name of the lender.
"Alex" wrote
That's interesting - what other information is there that is on the CRAs file, but which they do *not* pass on to a searching bank?
They do get your consent - it's on the credit application form.
Without a hint of irony, "Tim" astounded uk.finance on 30 Jun
2004 by announcing:
That's about it IIRC. Lenders' names and account numbers.
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