Trust Deed Forum - Carrington Dean bought over by Creditfix
Trust-Deed.co.uk
Home Home Page


















Trust Deed Forum
Trust Deed Forum
Home | Profile | Register | Active Topics | Members | Search | FAQ
Username:
Password:
Save Password
Forgot your Password?

 All Forums
 Trust Deeds
 Scottish Trust Deed Forum
 Carrington Dean bought over by Creditfix
 New Topic  Reply to Topic
Previous Page
Author Previous Topic Topic Next Topic
Page: of 3

Thomas Fox
Just Joined

1 Posts

Posted - 01 November 2017 :  10:12:16  Show Profile  Reply with Quote
Just to clarify this for everyone, I can confirm that Creditfix Ltd acquired The Carrington Dean Group Ltd (‘Carrington Dean’) on 12 September 2017. Carrington Dean is now the trading name of Creditfix Ltd in Scotland and the administration of your Trust Deed will continue as normal under the company name of Carrington Dean Ltd, with me as your Trustee.

When we conduct an annual review, we request that our customers use a secure application that allows them to securely access their online banking details. This application does not allow Carrington Dean/Creditfix or any of our employees access to the customer’s bank account information, in any way whatsoever. It uses third party software that complies fully with all applicable data protection and security regulations and is supported by all major banks. Customers are sent a secure link that allows them to enter their internet banking details and the application securely downloads their banking records for a period of up to 12 months. This is sent to a secure area of Carrington Dean/Creditfix’s own system to enable us to conduct an income and expenditure review. The technology used is known as “Screen Scraping” and interestingly is something that the Money Advice Service has also enquired about. For clarification – Carrington Dean/Creditfix has absolutely no visibility of any customer usernames or passwords and the information is not stored on our system after completion.

We introduced the process to make it easier, quicker and more secure for our customers to provide information for their annual review. Using this process our customers can complete the review in a few minutes, it removes the need for them to fill in forms and gather together bank statements to send by post or convert to PDF and email to us. It is certainly more secure and confidential than using the post or email. We expect many of our competitors will start to use a similar type of technology in due course. As already mentioned in this thread, many lenders are using this to help make lending decisions, rather than relying solely on credit searches that do not provide any information relating to affordability. We understand some initial misgivings are likely with any new technology but over 1,500 of our customers have completed this process so far, with no problems.

Shortly before a customer’s review is due we will contact them by telephone to discuss the process. Following this call, the customer will receive an email and SMS containing a secure link which will start the process.

This short video demonstrates the steps which will provide Carrington Dean/Creditfix with a copy of a customer’s bank statements to complete their review. * LINK REMOVED * (link might be removed, you can view on the Creditfix website).

If any customers reading this have any specific questions about this process please email annual.reviews@carringtondean.com or call our review team on 0141 218 4334. Otherwise, you can await our team contacting you to discuss your case. It is our intention to contact all customers to complete a review of their income and expenditure, however, if it is evident that a review was completed very recently with the previous Trustee then it is likely that we will rely on that information. We complete reviews on an annual basis based on the trust deed anniversary, however, for ‘new’ customers it is beneficial to do this as early as possible. Obviously, out with an annual review if a customer’s circumstances change then they should contact us to advise and discuss the impact this has on their disposable income.

The contact details for Carrington Dean’s customer service team are 0141 221 2323 or by email at customerservice@carringtondean.com. These can be used by any customer for any query relating to their trust deed.

Thanks
Thomas
Go to Top of Page

TDA (Debt Adviser)
Trust Deed Expert



12078 Posts

Posted - 01 November 2017 :  10:26:09  Show Profile  Reply with Quote
Thanks for posting that Thomas, hopefully some reassurance for Carrington Dean customers now moving over to Creditfix.

I think it's a good point regarding security; the risks of putting a paper statement into the postal system (or via potentially insecure email services) aren't insignificant in comparison to a portal that has been designed with security in mind (in order to achieve regulatory approval).


Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page

Nel
Contributor

13 Posts

Posted - 01 November 2017 :  14:51:38  Show Profile  Reply with Quote
Hi
Thanks that's really helpful and great to know how secure it it.

Thanks

Nel
Go to Top of Page

silly
Regular Contributor

18 Posts

Posted - 08 November 2017 :  18:04:10  Show Profile  Reply with Quote
Out of curiosity, although I suspect no-one has an answer for this as yet, what if after knowingly giving out your details something went amiss with your bank account, surely as the customer your bank would not be supportive as you knowingly revealed your details to a third party - nothing is ever 100% secure unfortunately
Go to Top of Page

TDA (Debt Adviser)
Trust Deed Expert



12078 Posts

Posted - 08 November 2017 :  18:22:10  Show Profile  Reply with Quote
Hi silly.

I believe that the banks have cooperated with firms that have been building regulated and secure systems to deliver this service.

Not quite a direct answer to your question, I know.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page

silly
Regular Contributor

18 Posts

Posted - 10 November 2017 :  16:12:53  Show Profile  Reply with Quote
Hi TDA

Thank you for your response. It certainly sounds an innovative idea however the European Banking Federation have asked the EU Commission to ban such Screen Scraping due to the risk of cybersecurity and clients private data. Whether such a ban, if implemented, will filter through to the UK will depends on politics I guess
Go to Top of Page

TDA (Debt Adviser)
Trust Deed Expert



12078 Posts

Posted - 10 November 2017 :  16:32:16  Show Profile  Reply with Quote
Yes - I have also heard from people who think this innovation might be short-lived for the same reason that you've given silly.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page
Page: of 3 Previous Topic Topic Next Topic  
Previous Page
 New Topic  Reply to Topic
Jump To:
Trust Deed Forum © 2008 - 2017 www.trust-deed.co.uk Go To Top Of Page
Snitz Forums 2000

(c) Channel Active Limited. Company Number: 06412452. Data Protection Registration: Z1332750.
Telephone calls may be monitored or recorded. Authorised and regulated by the Financial Conduct Authority.
Trust-Deed.co.uk, Clyde Offices, 2nd Floor, 48 West George Street, Glasgow, G2 1BP. Tel: 0141 2490416.