Data Subject
The subject of data is the named individual to whom the information relates.
Data Subject Access Request
Under the Data Protection Act 1998, individuals are entitled to apply for a copy of all the information a company holds on them. Companies can charge up to £10 for all of the information that they hold and they must reply to a request within 40 days.
Debt Assigned
The lender has reported that the lender has sold the debt on to a new company. The record will usually be kept in the original lender's name and show as closed.
Debt Management Programme
The lender has reported that the account has been included in a debt management programme, for example, one organised by a Citizens Advice Bureau or the Consumer Credit Counselling Service.
Deceased
A “Deceased” flag will usually be added to an entry on a credit report if the lender has confirmed that the person has died.
Decree
A Decree is a judgment issued by a Scottish Local Sheriff's Court.
Defaulted Account
This is an account where you have not kept to the original repayment agreement. A record of these accounts is kept for six years from the default date. The record will show how much money you still owe. Any default on your credit report will be shown with a status history of 8.
Default Notice
A default notice is a formal letter that a lender sends when a person is so far behind in payments that they have decided the relationship with them has broken down. This varies from lender to lender but usually happens when the account is between three and six months in arrears. A default notice might mean that the lender is planning to take legal action to recover the money, but this notification must be sent separately. A default notice will almost certainly make it difficult for you to get credit. This information is kept on your report for six years and after six years it is removed, whether or not the amount has been paid.
Debt Arrangement
An agreement (in Scotland) to pay an agreed and regular sum towards your debts. This is an alternative to bankruptcy (or sequestration) and allows the recovery of debts over a period of time.
Debt Arrangement Discharge
A Debt Arrangement has now ended.
Disassociation
This is an amendment to your credit report which breaks the financial link between you and the other people listed on your credit report. For example, an ex partner who you previously held an account with might be listed. This amendment is requested if you want to break or remove this link from your credit report.
Electoral Roll
The electoral roll is a list of the names and addresses of all people registered to vote in elections.
Fast Track Voluntary Arrangement
A formal agreement to repay debts made through an Official Receiver, where it is believed that more money would be repaid than bankruptcy. (See Voluntary Arrangements).
FLA (Finance & Leasing Association)
The corporate professional association that acts on behalf of finance companies. For more information about FLA visit http://www.fla.org.uk
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