Questions about your credit

How accurate is the information they hold?

On the whole the information they hold is accurate , but CRAs are not infallible and mistakes can be made or identities muddled.If you have a bad credit check, you need to work out why. Most people do not understand that just missing one payment on time can make them lose points. Once you understand the points and credit rating system you are better placed to get your credit rating accurate for you.

To find out how accurate your information is, we recommend you send off for a copy of your credit report from any CRA. The charge is around £2, and files are sent out promptly. It is possible to get the information corrected by writing to the CRA, if you spot an error. You need to explain why and send copies of any evidence.

Once you have done this your file will be marked as ‘disputed’ for the next 28 days while the CRA deals with your case. Negative information during this period is likely to be perceived by researchers as ‘unreliable’. You can send a further ‘notice of correction’ if necessary. In addition to saying what is incorrect you can explain any mitigating circumstances. If you have been ill in hospital, for example, this would be taken into consideration.