GAIN (Gone Away Information Network)
A network of lenders that share information on customers with debts who have moved home without telling the lender of a forwarding address.
Gone Away
This “flag” will usually appear on a credit account entry within a credit report if the lender concerned has reported that the customer has moved from their last known address, but the lender does not know where the person has moved to.
Identity Theft
A crime that involves using another's name or other personal information to acquire credit.
Individual Voluntary Arrangement Where a debtor or bankrupt comes to a legally binding agreement with creditors to pay all or some of their debt. An Individual Voluntary Arrangement is an alternative to bankruptcy and means any existing bankruptcy order should be annulled (cancelled).
Information Commissioner's Office
The Information Commissioner's Office regulates The Data Protection Act and the work of credit reference agencies and lenders. If an individual believes that a lender or a credit reference agency has not adhered to The Data Protection Act they may request that the Information Commissioner investigates the matter on their behalf. For more information on the ICO visit http://www.dataprotection.gov.uk
Income Payment Order A court order that makes an undischarged bankrupt repay some of the debt, where there is surplus income available, for a specified period of time.
Income Payment Agreement Similar to an Income Payment order, but agreed out of court.
Inhibition Stops a debtor selling property until a debt has been repaid (Scotland).
Inhibition Dismissed The Inhibition has now ended.
Interest The cost of borrowing or lending money, usually a percentage of the amount borrowed or loaned.
Interest Rate The amount charged by a lender for borrowing money.
Interim Bankruptcy Restriction Order This will apply while a Bankruptcy Restriction Order is being applied for. It will finish when the Bankruptcy Restriction Order has either been accepted or declined.
Interim Bankruptcy Restriction Undertaking This will apply while a Bankruptcy Restriction Undertaking is being applied for. It will finish when the Bankruptcy Restriction Undertaking has either been accepted or declined.
Insolvency Service
You can find out information about the Insolvency Service http://www.insolvency.gov.uk
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