Wednesday, Dec 03, 2008
Credit data firm to cut 300 posts
bbc: Credit data firm to cut 300 posts
Nottingham-based credit information firm Experian is to slash 300 jobs across the UK and Irish Republic in the New Year.
Posted by mark @ 03:24 PM (200 views) Add Comment
3 Comments
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1. paul said...
What an irony that Experian's negative credit reports on people have led to Experian themselves suffering.
Experian never retain good credit history data ("white" data). As such, they have been hoisted on their own petard and probably don't deserve too much sympathy.
2. nickolarge said...
Try getting them to alter incorrect data. They claim they 'cannot' change an entry without the consent of the providing company, even if you provide proof that it is wrong.
I would imagine the jobs are going because the number of credit checks required has fallen in line with reduced applications for loans and cards. There is also mention of the remaining jobs going abroad. Jobs like this are easily exported and so are far too many of the jobs done in this country these days. I think we will se a lot more of this kind of thing.
3. paul said...
nickolarge, there is another way.
Where did you first find out that the data was incorrect? If it was at your bank, ask them for a copy of the information on which they based their decision (to refuse you credit most likely).
Don't go to the credit reference agency with the complaint. They only ever update the information they have about you when you ask to see it, after they've charged you. Otherwise they just let it fester, reporting wrong information about you. Information they know is wrong. This is illegal, but the ICO is very cosy with credit reference agencies so never enforces the law on them.
When you get the incorrect information, complain to the Information Commissioner's Office for a breach of the Data Protection Act. You will, ultimately, have to prove that the credit reference agency received the correct information prior to you being refused credit. When the ICO sends their final decision to the credit reference agency, if it is in your favour, you can request backpayments of your time and any fees, stamps, administrative costs, pizza deliveries etc. and ask the credit reference agency for an out of court settlement for your final bill.
They will pay at that point, because if it goes to court, they know they will lose.
The current system of ignoring you works because they (the ICO and the agency) know that only a small percentage of people will see the DPA complaint process through.
If you win, the credit reference agency makes sure they never, ever make a mistake on your records again.
So the only question is - how badly do you want to get even?