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 Jgtcre8solutions.com
Link to 2013 report: Inside Housing