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First of all you need to understand how the system works. Remember that you do not have a right to credit and before giving you credit lenders, such as banks and loan companies, want to check that you are an acceptable risk. To help them do this, they check with firms called credit reference agencies (CRAs) to get details about you and your credit record. These agencies have records of almost every adult in the UK.

Is this a blacklist?
No, they just provide factual information about your credit record. They get this from public records and credit granters - when you apply for credit you give permission in the small print for your details to be passed on.

What information do credit reference agencies hold?
They use the electoral roll to check that you really live at the address you gave - not being registered to vote can affect your credit rating.

Court judgments for England and Wales are held on file for six years. You can ask the court to remove any judgments paid within one month. Those paid after one month can be marked as satisfied. In Scotland, judgments are called decrees and also lapse after six years, but you must write to Registry Trust, at 173-175 Cleveland Street, London, W1P 5PE, proving you have paid off the decree enclosing proof of payment and a £4.50 search fee. The CRAs are told of any judgment information to tell them if you have paid off the decree.

Bankruptcies and any individual voluntary arrangements are also kept on file for six years and can be shown as either discharged or completed if the CRAs are told.

What information don't they hold?
Motoring offences, criminal records and council rate debts are not held.

What if I am refused credit?
Lenders do not have to tell you why you were turned down but they should give you an indication of the reason.

Many use a credit scoring system to allocate points to various pieces of information, such as your age, job and whether you own a home. Different lenders have different scoring systems, so one lender may refuse you but another will accept. Ask if a credit reference agency was used - if so they have to tell you which one and whether the CRA information caused the refusal. If it did you may wish to get hold of your file.

What do I do then?
You can obtain a copy of your credit file for £2 by writing to each of the three credit reference agencies Equifax, Experian and Call Credit. You will need to give your full name, date of birth, current address and any addresses you have had in the last six years (this helps the agency to track all the information it has on you). If you run a business, give its name and address as well, because separate information could be held on you under your business.

Who do I write to?
There are three main CRAs:

Experian, Consumer Help Service, PO Box 8000, Nottingham NG1 5GX, tel 0870 241 6212, or go to wwww.uk.experian.com.

Equifax, Credit File Advice Centre, PO Box 1140, Bradford, BD1 5US, 0870 010 0583 or go to www.equifax.co.uk

Callcredit, Consumer Services Team, PO Box 491, Leeds, LS3 1WZ. Helpline: 0870 060 1414. Or go to the website: www.callcredit.plc.uk

You must send a cheque for £2 and should receive a copy of your file within seven working days.

  

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This web-site was last updated on 17/01/2012

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