CreditCards Blog

Am I right to think that it is not a legal obligation to share data regarding an account but only a legal requirement to ensure that any data shared with third party (credit ref agency) is correct and accurate.

If this is the case am I right in thinking that I can withdraw my consent for the sharing of any data by a particular company.

Am I right to think that it is not a legal obligation to share data regarding an account but only a legal requirement to ensure that any data shared with third party (credit ref agency) is correct and accurate.

If this is the case am I right in thinking that I can withdraw my consent for the sharing of any data by a particular company.

Yes you can but you won't get very far in obtaining credit. When you apply for a credit card or loan, you give consent to obtain/share data held by credit reference agencies.

Thanks for that, I am having a problem with one company that are now chasing me for bank charges from would you believe it 1995 !! I have basically told them to go away as this is a really old account that was closed with the TSB and they did not close it but added a large amount of charges after the close. I heard nothing from them for years but they sold the alledged debt to a collections company and it was sorted out, now 13yrs later I am being chased again, I have no records (only memory)of this as it is over 6 years old and is well over the age for collection, that is if there was any debt to collect.

Thanks for that, I am having a problem with one company that are now chasing me for bank charges from would you believe it 1995 !! I have basically told them to go away as this is a really old account that was closed with the TSB and they did not close it but added a large amount of charges after the close. I heard nothing from them for years but they sold the alledged debt to a collections company and it was sorted out, now 13yrs later I am being chased again, I have no records (only memory)of this as it is over 6 years old and is well over the age for collection, that is if there was any debt to collect.

After 6 years, without contact from the creditors, the loan is statute-barred. You need to head over to the Loans forum section of this site, they will guide you further.