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Press Release
1 December 2008
Keep an eye on your credit file and avoid financial problems this Christmas
The Information Commissioner’s Office is urging consumers to ensure that their credit reference file is accurate and up to date in the run up to Christmas.
Millions of consumers will use credit to help fund their Christmas shopping this year and it is essential that they make sure the information accessed by lenders is accurate. If the content of an individual’s credit reference file is wrong or out of date, banks, shops and catalogue companies could turn down their request for credit.
Under the Data Protection Act everyone has rights which allow them to obtain and protect their vital financial information. The Information Commissioner’s Office has produced practical, easy to understand consumer guidance detailing these rights, called ‘Credit Explained’.
David Smith, Deputy Commissioner at the ICO, said: “Despite the credit crunch many of us will be spending more than usual over the Christmas period and relying on credit to tide us over. Out of date or wrong information in your credit file might not only stop you getting the credit you need but could have further damaging or embarrassing consequences. By checking your credit file regularly you can spot anything that’s wrong and act swiftly to correct it. Our guide explains how to use your rights under the Data Protection Act to protect your financial information.”
If an individual discovers inaccurate information on their credit reference file, the Data Protection Act allows them to ask for the information to be corrected by the organisation that provided it to the credit reference agency. If, following this, the
incorrect information remains on the credit reference file, the individual can complain to the Information Commissioner’s Office.
ENDS
If you need more information, please contact the Information Commissioner’s press office on 020 7025 7580 or visit the website at: Information Commissioner's Office - ICO
Notes to Editors
1. The Information Commissioner promotes public access to official information and protects personal information. The ICO is an independent body with specific responsibilities set out in the Data Protection Act 1998, the Freedom of Information Act 2000, Environmental Information Regulations 2004 and Privacy and Electronic Communications Regulations 2003.
2. For further tips on safeguarding your personal information the ICO has developed the Personal Information Healthcheck – an online tool to help consumers do their bit to protect and manage their personal information. You can also visit Information Commissioner's Office - ICO to download your copy of the Personal Information Toolkit.
3. For more information about the Information Commissioner’s Office subscribe to our e-newsletter at Information Commissioner's Office - ICO
4. Anyone who processes personal information must comply with eight principles, which make sure that personal information is:
• Fairly and lawfully processed
• Processed for limited purposes
• Adequate, relevant and not excessive
• Accurate and up to date
• Not kept for longer than is necessary
• Processed in line with your rights
• Secure
• Not transferred to other countries without adequate protection
1 December 2008
Keep an eye on your credit file and avoid financial problems this Christmas
The Information Commissioner’s Office is urging consumers to ensure that their credit reference file is accurate and up to date in the run up to Christmas.
Millions of consumers will use credit to help fund their Christmas shopping this year and it is essential that they make sure the information accessed by lenders is accurate. If the content of an individual’s credit reference file is wrong or out of date, banks, shops and catalogue companies could turn down their request for credit.
Under the Data Protection Act everyone has rights which allow them to obtain and protect their vital financial information. The Information Commissioner’s Office has produced practical, easy to understand consumer guidance detailing these rights, called ‘Credit Explained’.
David Smith, Deputy Commissioner at the ICO, said: “Despite the credit crunch many of us will be spending more than usual over the Christmas period and relying on credit to tide us over. Out of date or wrong information in your credit file might not only stop you getting the credit you need but could have further damaging or embarrassing consequences. By checking your credit file regularly you can spot anything that’s wrong and act swiftly to correct it. Our guide explains how to use your rights under the Data Protection Act to protect your financial information.”
If an individual discovers inaccurate information on their credit reference file, the Data Protection Act allows them to ask for the information to be corrected by the organisation that provided it to the credit reference agency. If, following this, the
incorrect information remains on the credit reference file, the individual can complain to the Information Commissioner’s Office.
ENDS
If you need more information, please contact the Information Commissioner’s press office on 020 7025 7580 or visit the website at: Information Commissioner's Office - ICO
Notes to Editors
1. The Information Commissioner promotes public access to official information and protects personal information. The ICO is an independent body with specific responsibilities set out in the Data Protection Act 1998, the Freedom of Information Act 2000, Environmental Information Regulations 2004 and Privacy and Electronic Communications Regulations 2003.
2. For further tips on safeguarding your personal information the ICO has developed the Personal Information Healthcheck – an online tool to help consumers do their bit to protect and manage their personal information. You can also visit Information Commissioner's Office - ICO to download your copy of the Personal Information Toolkit.
3. For more information about the Information Commissioner’s Office subscribe to our e-newsletter at Information Commissioner's Office - ICO
4. Anyone who processes personal information must comply with eight principles, which make sure that personal information is:
• Fairly and lawfully processed
• Processed for limited purposes
• Adequate, relevant and not excessive
• Accurate and up to date
• Not kept for longer than is necessary
• Processed in line with your rights
• Secure
• Not transferred to other countries without adequate protection
