Friday, Oct 17, 2008
A hard winter for debtors
Guardian: Experian to help lenders chase delinquent debts
"The credit checker Experian is restructuring to help bank clients collect debts - after years of providing credit-scoring services to help them lend cash." A clear sign of the times.
Posted by quiet guy @ 01:11 AM (364 views) Add Comment
4 Comments
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1. malct said...
experian's roots are with 'Gussies' home shooping catalogue of years gone by.
More recently Argos.
They are at the very centre of datamining and processing and a key player in the move towards national ID cards and control.
They are one of very few agencies privy to the data collected by disclosure applications via CRB
2. renting2 said...
There ore 3 of these agencies. They are totally in bed with banks and debt collectors because that's who pays them for the info. They process data on dictat from the banks and collectors and do not retract or alter if it is wrong, unless they have the permission of said creditor. It won't affect you unless you're on the wrong side of a mistake, then it's very difficult if not impossible to 'repair' it (they take the word of the bank).
This is one set-up that arguably should be one publicly accountable body.
Why are we not issued an annual report from the 3 reference agencies so we can check ourselves, with a proper route of redress?
3. Amos said...
These agencies need regulating.
The info these agencies produce is based on very limted and unchecked data.
They turn said data into reams of statistical analysis, failure scores, graphs etc and flog it as
the uncontestable truth.
4. paul said...
I've some experience with these and I've even won out of court settlements with some of them.
They routinely break data protection act laws, but the ICO won't chase them, so you have to. In fact I agree that the whole DPA1998 is designed to make it very difficult for you to get redress when a data controller makes mistakes (as they always do).
They will lie to the ICO without hesitation too, and even if they are found out to be lying later, the ICO will not reprimand them. In addition, the ICO will share all of your correspondence with the data controller but won't (automatically) forward the data controller's correspondence. At best that can be called bias and corruption of remit.
I've fought against them and won a few times though - the secret is to back the ICO into a corner and get them to admit that certain behaviours are unacceptable under the DPA, then go back to the data controller and ask for lots of money.