If you apply for credit it is likely that a prospective lender will want to confirm that the risk of lending to you is acceptable. As part of the process of confirming the loan, lenders will usually check your credit record with one or all of the three main credit reference agencies.
Credit reference agencies (CRA’s) are used in the UK by many large and small lenders to record information about whether your credit accounts are up to date or not. The 3 main CRA’s who hold files relating to how well we are managing our financial commitments are:
- Experian
- Equifax
- Callcredit
You have the right to view your file held by the CRA, though it is worth noting that this may vary between CRAs. In some cases, there may be a small fee for this information, especially if you are requesting a paper copy, rather than on-line information. For a postal copy of the information held on file about you send a letter to the agency:
- Providing your full first names, surname and address, including the postcode
- Giving any other addresses you have lived at during the past 6 years
- Sending the appropriate fee for each agency
Alternatively, application forms can be downloaded from the internet.
If your file is factually correct, you cannot have the information changed. However, if you are concerned that the information on your file gives a misleading impression, you can send a Notice of Correction explaining why you think the entry is wrong. An agency can only refuse to include your Notice of Correction if they apply for a ruling from the Information Commissioner and the Commissioner agrees with them.
Your file should not show any information about family members who you share accommodation with unless there is already a financial connection, e.g. joint bank account or shared credit agreement.
Credit Reference Agencies include:
Equifax Ltd
Customer Service Centre, PO Box 10036, Leicester, LE3 4FS
Callcredit Plc
Consumer Services Team, PO Box 491, Leeds, LS3 1WZ
Tel: 0330 024 7574
Experian Ltd
Customer Support Centre, P O Box 9000, Nottingham, NG80 7WF
Tel: 0800 561 0083 (Monday – Friday 8am – 7pm & Saturday 8am – 4pm)
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