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Re: [LUG] Credit scoring (was Re: Identity theft (continuing topic))

 

On 28 Nov 2007, at 11:34, Tom Potts wrote:

> On Wednesday 28 November 2007 10:51, Andy Smith wrote:
>> Hi,
>>
>> On Wed, Nov 28, 2007 at 09:05:02AM +0000, Tom Potts wrote:
>>> On Wednesday 28 November 2007 08:47, Henry Bremridge wrote:
>>>> I believe under the Freedom of Information Act, people are  
>>>> allowed to
>>>> set a reasonable charge for providing the data. In the case of the
>>>> credit agencies this has been set at £2
>>>
>>> This really ought to be challenged somehow. This is the key part  
>>> of their
>>> business (doing the check) and if it much more complicated than
>>> select ..../print/post (ie about 50p) then we are being penalised  
>>> by the
>>> companies incompetence.
>>
>> It's a free market, anyone who thinks they can run a profitable  
>> credit
>> reporting agency and process access requests at 50p a go can feel
>> free to try.  Is there such a massive difference between 50p/year
>> and £2/year?
>>
>>> What I find disgusting is that these companies make money out of MY
>>> information
>>
>> ...that is publically available or that they pay for...
>>
>>> and expect me to pay to have it checked.
>>
>> You would rather that you had no opportunity to correct mistakes made
>> by the companies that feed data to the credit clearing houses then?
>>
>>> I shouldn't have to subsidise their attempt to save money and
>>> increase their profits.
>>
>> You don't have to.  Just don't bother using any form of credit.  But
>> if you do, you are getting a better deal because the creditor is
>> more able to tell that you're not going to default.
>>
>>> Its a bit like those old 'gene' patents
>>
>> No it isn't.
>>
>>> Some say £2 isnt much - well give me 50p for everyone in this
>>> country with a bank account for ...  well nothing , and I'll send
>>> you a postcard from a nice beach!
>>
>> Not everyone in this country asks for their credit reports nor uses
>> credit.  If you or anyone else feels it is easy money you can set up
>> your own credit scoring service.  I'm really finding it hard to
>> understand your problem with these companies; they provide a
>> valuable service to both creditor and debtor and their operating
>> costs are not zero.
>>
>> If you want to rail against injustice try any of the number of
>> abusive creditors who are quite happy to sell credit they know the
>> debtor can't afford with punishing terms that can leave people
>> without a home or bank account paying cash weekly on the doorstep
>> for hire purchase of the clothes on their back.  Look at every
>> company that says "loan with NO CREDIT CHECK" and observe how seedy
>> they are.
>>
>>> Hey I have a car and can use it to make a profit but I don't have
>>> to have pay for any damage I cause with it??????
>>
>> Doesn't make sense.  What's your point?
>
> I don't use credit as such* but I can it can still be upset by  
> these things. A
> bad credit mark can prevent my debit card being renewed-!!
>
> *I cant get things on account - so when I have lots of small items  
> purchased
> regularly in a local shop neither they nor I can benefit from the cost
> savings of having them on account. OK they would grant me account  
> rights as
> I've never failed to pay but theres their expenses and the  
> inevitable loss of
> trust.
>
>
> What I'm saying is they are providing a service to other people  
> that can
> seriously screw MY life up and I have to pay to fix THEIR errors -  
> or even to
> find out if thats where the problem might be.
> I don't care how 'reasonably priced' it may be its still wrong.
> Tom te tom te tom


> I agree with Tom, it's not as if the credit giving companies are  
> making massive losses, and where they are (mortgage debacle) then  
> that's their own fault and a risk of trading. These bodies, banks,  
> insurance companies etc. all seem to think
> we should pay for their mistakes.

> Clare



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