When you apply for a loan or a credit card the lender will check your credit rating. There are three credit rating companies in UK, Experian, Equifax and Call credit. There are other agencies that maintain credit scores in UK, but Experian and Equifax are well known. These agencies have your name, current and previous [...]
When you apply for a loan or a credit card the lender will check your credit rating. There are three credit rating companies in UK, Experian, Equifax and Call credit. There are other agencies that maintain credit scores in UK, but Experian and Equifax are well known. These agencies have your name, current and previous address, where you work, what type of work you do, how much you earn, have you ever been bankrupt and do you pay your debts on time and all data regarding your financial transactions. If you have a savings account, this is not recorded with the agencies. Political affiliation, religion and other personal data is not recorded. The agencies get the data from the electoral roles, county courts judgments and payment history of past debts. The previous six years data is maintained with the agencies. You should get your report from the agencies at least once a year. You can do this by sending them a written request. Your report will be mailed to you within seven days. Go over your report and if there are any discrepancies or mistakes write and inform them and get those corrected. Don’t let a mistake remain on your credit report as this will damage your credit rating.
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