Flyinghigh
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If he request his ICB records, he should be able to see if a credit check was actually performed. I can't remember offhand how long they keep the details for.when he submitted all his details for a credit check the loan was denied
Thats a great place to start thank you.Can I suggest that he write to An Post and ask for the reason for the decline - maybe also specifically ask if the loan was declined due to CCR records (stating that there's been an error made on this records, and that the error has now been corrected).
He'll need to be able to evidence that the incorrect records had a clear negative impact, before seeking any form of compensation.
The letter only states that information was sent to the ICB but can request records for both icb and ccb? The only reason could be this incorrect info as we have never been refused credit before and always pay bills on time. It was about a month ago we were refused 12k refinance at 8.9% from 10.9%. Is there a case for GDPR breech here at all?If he request his ICB records, he should be able to see if a credit check was actually performed. I can't remember offhand how long they keep the details for.
What timeline are we talking about here? Was it only his ICB record that was incorrect? Or CCR also?
If you think the refusal was on the basis of the incorrect information, then complain. Even better if the lender confirms. But include a basis for financial compensation, or you might only get a token apology; eg 'we were unable to refinance 10k at 18% interest to a 6% rate, which was applied for on (date) and was refused in the basis of the incorrect credit information provided by your company. This has cost us 3,600 in additional interest over 3 years and leading to unnecessary financial hardship'.
Your situation has changed, you now have an additional dependent so that may also have been a factor in your refusal. If I understand correctly, the credit issue relates to a previous PCP and your husband now has a new PCP and existing multiple loans of €12k so he is carrying a lot of consumer debt. It may have been refused on this basisThe only reason could be this incorrect info as we have never been refused credit before and always pay bills on time
No! Your husband would have signed terms that permitted them to submit his personal information to the ICB in the loan application. The details of the loan and labels such as settlement Vs non applicable aren't protected data.Is there a case for GDPR breech here at all?
It's a bit of a grey area as I understand, and under GDPR there may be grounds to sue the lender as GDPR opens up the opportunity to seek damages.No! Your husband would have signed terms that permitted them to submit his personal information to the ICB in the loan application. The details of the loan and labels such as settlement Vs non applicable aren't protected data.
It's a bit of a grey area as I understand, and under GDPR there may be grounds to sue the lender as GDPR opens up the opportunity to seek damages.
I'm way outside my comfort zone on this - anyone who knows GDPR would wipe the floor with me.There might be an angle, but my reading of it is that there has been no breach or leaking of PII in this case. The legislation opens the door for compensation for material and non-material loss where data is mishandled or divulged, but here it sounds like data has been handled in accordance with that agreed to the the OP's husband.
We're kind of used to hearing about breaches as leaks or unauthorised access or use of data. But inaccurate reporting, which has affected credit rating, could constitute unlawful processing, which is where the door is opened up.
It's unlikely that there is a single customer impacted.
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