Print This PageCredit Reference agencies are companies that hold information about consumers in the UK.
They do not hold information about an individual’s political beliefs, race or religion. They only hold information which assists lenders and financial institutions in assessing if they will lend money to you.
All credit reference agencies are required to be licensed by the Office of Fair Trading.
There are three Credit References agencies:
| Call Credit Plc Consumer Sense Dept Park Row House Leeds LS 5JF 0113 244 1555 www.callcredit.plc.uk |
Equifax Plc Dept IE PO Box 3001 Glasgow G81 2DT 08705 143 700 www.equifax.co.uk |
Experian Ltd Consumer Help Services PO Box 8000 Nottingham NG1 5GX 0870 241 6212 www.experian.co.uk |
These Credit Reference agencies do not hold black lists. They merely maintain records such as Electoral Role information, payment history, default, CCJ’s, Bankruptcy and Individual Voluntary Arrangements.
The major financial institutions such as banks, building societies and retailers have agreed to share information about each other credit agreements. Those companies, who are members, are permitted to check details submitted by other member companies to help them assess your credit rating.
Shared information consists of, credit searches, payment history, credit agreements and defaults. Some members only submit information to one Credit reference agency others submit to all of them. If you wish to check your “credit file” it is best to search all three credit files.
Lenders use the information held to determine (on their own credit scoring system) if your risk is worth taking.
You may have been rejected credit for simple reasons such as not appearing on the electoral roll. If you have “shopped” around for credit, lenders may have searched your credit file. Each time a lender searches your file a “foot-print” is left. This may count against you when applying for credit.
Bankruptcy and Individual Voluntary Arrangements are kept on your credit file for a period of six years.
You can obtain a copy of your credit file online or by post. (Experian offer a 30 day free trial to the credit expert mailing service). If information is incorrect you may in writing apply to have the information amended or corrected.
Bankruptcy, Individual Voluntary Arrangements (IVA’s) and even satisfied judgements are recorded on your credit file for a period of six years.
