Personal payment Data  passed over to a Credit agency!

  Don’t Believe The Hype! 

 Big Issue Invest, has launched a national scheme with credit agency Experian to use your rental payment history against you at a later date… Just kidding or am I!
Have you heard of The Rental Exchange, Pitched to help 5.2 million tenants. 

 what is to become of those who’s rental accounts are always Four weeks behind or have an erratic payment pattern.  The scheme could cause any  number of issues. 

* This scheme is being promoted as set up to “HELP” tenants 

* The scheme has been implement nationwide

* Landlords do not need consent to share your payment data with Experian

* Landlords will notify tenants via mail (Open up them letters)

The cut off date to opt out for L&Q is said to be April 19th. Check with your individual housing authority  for more info.

What next, will  the length of ones tenancy  be subject to a specific credit score. 

What about students 

 we all know the plans to attach student lone’s to credit scores.  how will the scheme benefit  students. once this scheme is running  to its full potential   It will be an impossible task to find housing options that are not  going to cost both  arms and a leg to cover the down payment.

 Bad enough the private Sector turned backs like the wind, to bite the 25% more just dump your HB tenants deal.

Is it just me or  has anyone else get the distinct feeling  many of these new regeneration  initiatives do not include a reasonably large percent of people. 

Take zero hour contracts, if you have been placed on one of these contracts you will find with out the  Assistance of state benefits such as Housing and Council Tax. Your choices will become even more limited.

 Think about it!

 Whatever your personal situation, make time to conduct a little research, the changes that could affect your future choices  are set to come into affect from  April 2016

How many vulnerable  people lost there homes in your community  are deemed to have made them self “intentionally” homeless. 

The attachment of such labels is detrimental to these seeking to be rehoused,  unless willing to leave family, school, job  and relocate, without London being an option. If I might add, your lucky enough to be accepted by a private landlord 

What of people on a low income whom are forced to juggle finances by shaving a bit off here and there during the winter months to pay ever rising fuel charges 

>What will hinder score progression  >What new attributes will be added to a list of considerations 

 What about other  members of a household,named on a tenancy, will they be affected  as a direct result of the registered tenants credit score 

Thinking back, I once though it was a joke that new energy meters will be able to collect data from all digital devices in your home. showing  what you spend money on, some people are being forced to have these data collecting meters installed. 

Let’s say you manage to keep your landline, wifi, mobile or cable  connected  (in your name) wile your credit report shows you have outstanding debts, yet can afford to pay non  priority fees. I wonder than, how ones  credit will improve. Or will you be expected to pay your way out of your outstanding contracts to reallocate the funds to any number creditors who have by now added  fees and court costs to the debt! 

 Just so you know 
 you can call your landlord and request to opt out of the data shearing scheme. 

JGT Keeping you informed 

Link to 2013  report: Inside Housing

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s