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What information do Credit Companies have on me,
and where can I get it?
Who’s holding my information?
Nearly every company that gives credit to people will use ether
Equifax or Experian, the two major credit reference agencies in
the UK. These companies keep records on millions of people’s
credit histories and arrangements, listing any existing credit
arrangements such as mortgages or mobile phone contracts. They
also store records about your relationship with these creditors,
if you are paying up on time or if you have outstanding debts.
Most of the main lenders use this system because
they are not allowed to gain information off other company’s
clients and customers, so the credit agencies step in. The agencies
also make use of the publicly available information such as court
records and the electoral roll. All the information collected
on your credit history is then passed to the company who what
to check you out and make there decision using a formulae they
fill meets there requirements, mainly looking at your income,
repayment record and existing debts.
Can I see this credit record?
For Equifax, visit http://www.equifax.co.uk
or call 0870 010 0583.
For Experian go to http://www.experian.co.uk
or call 0870 241 6212.
You may have to apply in writing for your history, and be charged
an administration fee off £2 (at the time of writing) for
it to be posted to you. They won’t be able to tell you details
over the phone or by e-mail however.
Sometimes other people’s bad credit history
can bring down your own. This is usually when family members or
other people living at your address have problems with credit.
If is the case, write to the credit agencies and tell them so.
There’s no need for you to suffer from someone else’s
mistake.
