CRA & Cabot

[Shelley181146]

Not sure if I am posting in correct thread, apologies if not.

 

My husband has a long standing arrangement with Cabot and they request 6 monthly reviews.

 

Regular nominal repayments have been continuous for many years and these reviews are seen as general run of the mill exercise.

 

They have my name as authorised to speak on his behalf and this month we reduced the amount even further for personal reasons

and they requested I&E form be completed.

 

When I challenged them on this, they said they didn't need it and they were happy to reduce the arrangement.

 

For different reasons,

I sent for my CRA report and my credit rating is sqeeky clean.

However, on the very day I spoke to Cabot, they have done a search on my name but have not recorded their reason for doing so.

 

My bank now are retracting my overdraft facility and I can only see this as being the reason.

 

What can I do about Cabot?

They have no business doing this to my CRA file do they?

[dx100uk]

hi ya shel

i doubt thats the reason.

 

they have a licence so can search your file

however, with no 'reason' number, i should not be seen by anyone bar them and you.

 

dx

[Shelley181146]

Hiya dx,

Thanks for dropping in.

Looking at my report it is under the heading of 'Previous Searches' and where 'Application Type' might read Personal Loan or Credit Card Cabots Application Type is 'UNRECORDED ENQUIRY'.

I agree with all the other searches but it seems extremely coincidental that they searched on the very day I spoke to them re hubbies business.

 

I've got a sqeeky clean credit report and I am being refused credit. How does that work?

[dx100uk]

ask brigadier32 to pop in shelley

 

dx

[Shelley181146]

ask brigadier32 to pop in shelley

 

dx

 

Is that the same as Brigadier2JCS?

[dx100uk]

yep sri

 

dx

[BRIGADIER2JCS]

Hi Shelley,

 

Ok.

1. An unrecorded search has no impact on your credit

profile and is no seen by any creditors or prospective lenders.

 

So this not I think the reason for your banks action.

 

My guess is that it was an ID check to ensure that they were

speaking to the correct person regading your husbands business.

 

My is advice is to check your husbands credit files asap, if you

have associated accounts with the same bank and he has problems

they may withdraw facilities if they believe there is a risk.

 

Check with the bank for their reasons for this action.

[Shelley181146]

Hi Brigadier,

Cheers for dropping in.

 

Your explanation makes sense re DCA but the bank thing doesn't.

My husband hasn't had credit for over 12 years and doesn't have a bank account. His pocket money is provided in cash every Monday, lol.

 

I have asked my bank for an explanation and await the postman eagerly.

 

If you don't have credit, you can't get credit. When you do have credit they either throw it at you or say "we don't want to over stretch your finances".

I asked my bank for one of their c/c as they had a promotion on, which offered a better rate than I am currently payingand as my credit file is clean I didn't think I would have had a problem, obviously I am wrong.

 

Thank you for your feedback peeps. I will keep you posted as to the outcome.

[Shelley181146]

The bank have conceded that there has never been any form of misconduct on any of my accounts and as my CR file is squeaky clean, they have accepted that they will continue to provide the overdraft facility for a further 12 months.

The clerk did 'think' that I was maybe using the overdraft too frequently, lol. I am unable to print my reply.

The next wad of money I get will be going under the mattress.

Thanks for all guidance/opinions folks.

Shelley