Data agreement beyond termination?

[ncf355]

I seem to remember seeing this covered many years ago back on another board, but cant remember where it ended up -

If a creditor terminates an agreement, how can the right to process data (as agreed to in the CC or Loan agreement) survive beyond termination?

[ncf355]

Re: Data agreement beyond termination?

Hmm

Just found the ICO's take on it, and I don't like it!

HERE

[basa48]

Re: Data agreement beyond termination?

Hmm

Just found the ICO's take on it, and I don't like it!

Well I had a similar argument with the ICO regarding accounts where NO credit agreement exists, let alone one that did exist but is terminated.

This is part of their response.

[ncf355]

Re: Data agreement beyond termination?

This 6 year thing is a P take really, I just don't see it as fair in any way, shape or form

My financial situation now bears absolutely no relation to what it was 2 years ago, let alone 6!

[ncf355]

Re: Data agreement beyond termination?

Then of course there is the issue that it's not in the OC's interest either

I've never understood the logic that they keep a default on the file for 6 years even if you paid it off in full (with the addition of the infamous and useless "settled", of course)

I think very few people realise that once they register a default against you, there is absolutely no incentive to pay them back what you owe them!