Telecom to start positive credit reporting

[davereid]

From April 1, each month Telecom and credit agencies like Veda Advantage will start sharing client information.

Each month will see your name, address, DOB, driver licence number, current account balance and the payments you have made for the month shared.

This may suit you, some claim it will help you build a good credit rating.

However, many people see it as an invasion of privacy.


It does require your consent.

Telecom have published an advert saying they intend to do it, your consent is implied.

However if you don't want your personal information sold in this manner, you should go to http://www.telecom.co.nz/helpandsupp...akeacomplaint/ and fill out the form telling them you don't authorise positive credit reporting on your account.

[nzspokes]

Pay your phone bill and its fine.

[oneofsix]

Pay your phone bill and its fine.

Providing they don't make any mistakes. Of course corporation like Telecom never make mistakes do they? At least Telecom have a better track record than Telstra

[Haggis2]

Providing they don't make any mistakes. Of course corporation like Telecom never make mistakes do they? At least Telecom have a better track record than Telstra

And they'll probably be very careful with your personal details like ACC....

[mashman]

From April 1, each month Telecom and credit agencies like Veda Advantage will start sharing client information.

Are there any rules that stop Veda from being allowed to sell client information on to whoever decides to pay for it?

[huff3r]

Are there any rules that stop Veda from being allowed to sell client information on to whoever decides to pay for it?

Yes. The Privacy Laws. They are only allowed to use your information for the purpose that it was gathered for.

[oneofsix]

Yes. The Privacy Laws. They are only allowed to use your information for the purpose that it was gathered for.

If that were true then Telecom would not be able to give it to Veda. Look at it this way, it was gather to establish your credit rating so now under that guise what is to stop it being shared with anyone that wants an idea of your credit worthiness? Is it even considered "personal" information?

[davereid]

Yes. The Privacy Laws. They are only allowed to use your information for the purpose that it was gathered for.

The law has been changed to allow this to occur.

Unfortunately, the Privacy Commissioner has said that publishing a notice in the paper is enough to say they have consent.

Its most certainly personal information.

Any client of Veda Advantage will have access to the information, once again with your consent. Of course the standard terms and conditions of every company you deal with will include a clause that says you have given consent, so you really have little choice.

[Zedder]

Some info from the Privacy Commissioner:http://privacy.org.nz/credit-reporting-privacy-code

[awa355]

The law has been changed to allow this to occur.

Unfortunately, the Privacy Commissioner has said that publishing a notice in the paper is enough to say they have consent.

Its most certainly personal information.

Any client of Veda Advantage will have access to the information, once again with your consent. Of course the standard terms and conditions of every company you deal with will include a clause that says you have given consent, so you really have little choice.

How can publishing a notice in the paper be considered " consent" Does putting a notice in some obscure one horse town bi-monthly, qualify as a newspaper?

It wont worry me too much but we have all had money problems at some stage. Struggling to pay a bill paid in full in one month doesn't make someone a bad credit risk.

[jim.cox]

Thankx for the heads-up

Have expressly witheld my consent

And suggested that it is bad corporate practice

[silver_duck]

I'm struggling with the concept that someone can publish an advert in a newspaper that then assumes I accept a change in conditions to our contract.
Following this same process could I place an advert informing the world that it owes me 1 Billion dollars and that failure from each individual to decline my offer would assume acceptance.

Thats just silly.

[silver_duck]

Furthermore this change was introduced on April 1st..... really? I mean really?


Credit reporting: What Changed in 2012
From 1 April 2012, credit reporting in New Zealand will look quite different. A number of amendments to the credit code have come into force and the changes are explained in the information below.

[Akzle]

How can publishing a notice in the paper be considered " consent" Does putting a notice in some obscure one horse town bi-monthly, qualify as a newspaper?

It wont worry me too much but we have all had money problems at some stage. Struggling to pay a bill paid in full in one month doesn't make someone a bad credit risk.

I'm struggling with the concept that someone can publish an advert in a newspaper that then assumes I accept a change in conditions to our contract.
Following this same process could I place an advert informing the world that it owes me 1 Billion dollars and that failure from each individual to decline my offer would assume acceptance.

Thats just silly.

it's known as a "gazetted notice"

a notice that is unrefuted stands as fact (at "law")

good fucking deal, eh? you'd be surprised how much shit "the crown" accomplishes with gazetted notices.

it's like a cop handing you an infringement notice. most people think that means they owe money, if you send it back to them with your own notice, saying you've noticed their notice and you think it's all shit, then the burden of proof rests on them.

of course cops lawyers and judges are all giving each other handjobs in the showers, so unless you're kim dotcom wealthy or a real pain in the ass (try sending your letters in green =D ), they'll just drag you through the system and you'll be paying anyway.

[Akzle]

Following this same process could I place an advert informing the world that it owes me 1 Billion dollars and that failure from each individual to decline my offer would assume acceptance.

Thats just silly.

it is just silly, but, at law, you could.
of course you'd probably then need an army of thugs with holdens and flashing lights to enforce your notice.