Consent to share credit history between lenders
The text a customer agrees to when a lender asks to see their record with other lenders on Collecta.
1. What you agree to
I allow the lender named in the request to see a summary of my borrowing with other lenders that use Collecta: how many loans I have, outstanding amounts in bands, whether payments are late and by how long, and any defaults in the last 36 months.
The lender will not see the names of my other lenders, exact amounts, or any notes they keep.
2. What it is used for
Only to assess an application or an existing loan with that lender. Every look-up is recorded with its purpose and the staff member who made it.
3. How you agree
By reading out or entering the 6-digit code sent to your mobile number, or by signing the printed form. The date, method and evidence are kept as a record of your consent.
4. Withdrawing
You can withdraw at any time in your Collecta account (Credit history sharing) or by asking the lender. The lender loses access straight away. Records of past consent and look-ups are kept, as the law requires.
See also: Lender terms · Privacy policy · Credit-history consent