Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Blacklists - Ten things you probably didn't know

Posted by Barry Stamp in Personal Finance on 9 October 2017 - Barry is Managing Director at checkmyfile

1. Blacklists are not unlawful. No lender is compelled by law to give credit or to give any reason when declining credit. Each may consult several sources of information before making a decision, including any form of list that may exist. Any list containing personal data is automatically regulated by the Data Protection Act 1998.

2. Following the Race Relations Act 1976, many lenders and traders renamed their blacklists to ‘refer lists’.

3. Credit managers frequently meet in ‘credit circles’ to exchange information informally about slow payers and fraudulent attempts to obtain monies by deception. Credit circles are not regulated by law but the Office of Fair Trading has set out informal guidelines as to how meetings should be managed.

4. Following widespread failure to obtain successful prosecution of mortgage fraudsters via the Police and the Serious Crimes Office, mortgage lenders formed the Association of Mortgage Lenders in the early 1980’s to share information on fraudulent mortgage applications. Subsequently the Committee of Mortgage Lenders (CML), through its 109 full members and 87 associates who control 98% of all mortgages, shared information regarding repossessions on the CML Possessions Register, which was contained on credit files right up until June 2010, when it was abandoned and all historic details deleted.

5. Credit card operators first operated and shared a ‘hot card list’ of cards reported stolen or known to be in fraudulent use. The list originally had a limit of only 200 cards, but was quickly expanded to have unlimited depth, and today also includes cards that are over limit, amongst other things.

6. Our government publishes a Sanctions List of persons who cannot be commercially traded with and whose assets must be seized if identified by a bank or other company. There are currently over 6,000 names on the list. The UN, and Europe, both publish similar Sanctions Lists. When you check your credit report with checkmyfile, we show you whether you are on a Sanctions List.

7. Individuals at over 100,000 private addresses in the UK are listed at CIFAS– the UK’s Fraud Prevention Service. A CIFAS warning will not lead automatically to a decline of credit, but members of CIFAS are required to liaise with each other and interrogate any application coming from that address much more thoroughly to rule out the possibility of fraud. All types of CIFAS warnings are reported to lenders on credit reports, but only two specific types - one of which is 'Protective Registration' placed on the database by individuals themselves - are contained on credit reports viewed by consumers.

8. Insurance companies share claim data on the CUE database – the Claims Underwriting Exchange – to protect themselves from claim abuse.

9. A £2 statutory credit file request, made by consumers under sections 7 and 9 of the Data Protection Act 1998, does not require a credit reference agency to provide details of fraud database entries that may exist against a consumer, other than 2 of the several types of CIFAS warnings, and all CML Repossession Register entries mentioned above.

10. Credit reference agencies do not maintain nor publish a general credit blacklist of persons who may not be provided credit. Their databases are based on factual events reported from many sources.

You can check your Multi Agency Credit Report for free at checkmyfile to see both positive and adverse infomation recorded against you - it's free for 30 days, and then costs just £14.99 per month, you can cancel at anytime.

Changing name after marriage

Once the wedding ceremony is finished, you’re probably exhausted; excited to enjoy your honeymoon; dive into the wedding gifts; and prepare to send out seemingly thousands of thank-you cards to distant relatives. It’s easy to delay some of the less exciting activities, like contacting your lenders to give them your new name, but is it worth putting it off? Should your Credit Report lie at the bottom of your list of priorities? Not if you plan on applying for literally any type of credit with your new spouse.

Published on 20 Aug 2020 by Kirstie Brown

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Why Is My Loan Balance Wrong On My Credit Report?

One of the most important parts of your Credit Report is your repayment history. Your reported credit accounts will be detailed here, showing how you’ve managed them, as well as any outstanding balances. This account repayment information typically goes back about six years, and will be assessed by lenders during a credit check – helping them come to an informed and responsible lending decision.

Published on 12 Aug 2020 by George Coburn

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Default Notices could be sent to consumers, even where a payment holiday is in place

Consumers across the UK could be set to receive intimidating ‘Default Notices’ in the post, even though they have opted to take an FCA and lender approved payment holiday.

Published on 11 Jun 2020 by Richard Catlin

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Why a good Credit Rating is a bit like a VIP theme park pass

Getting approved for a new credit card or loan could be about to get more difficult, as lenders tighten their belts in response to the coronavirus pandemic.

Published on 20 May 2020 by Richard Catlin

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Virtual House Viewings for the self isolating home hunter

Virtual house viewings are soaring in popularity among house buyers as the UK government brings in tough measures to curb the spread of Covid-19. Among these changes is a shift towards reducing the size and number of social gatherings and a requirement for people to only leave their homes if absolutely necessary. Entire industries are entangled in the coronavirus’ grasp and these protective measures, while rightly designed to diminish the impact and spread of the virus, will inevitably have a knock-on effect that goes way beyond socialising.

Published on 14 Apr 2020 by Sam Griffin

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Can you still get a credit card during coronavirus?

Credit cards are increasingly in demand as the coronavirus pandemic develops across the world. Since the start of March, UK Googlers have been searching for ‘credit’ at rapid rate and it’s no surprise why. Workers across the country are finding their employment and income uncertain amid the financial challenges posed by Covid-19. Many will inevitably lean on credit and financing for a little more purchasing power during this period of uncertainty.

Published on 7 Apr 2020 by Sam Griffin

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Statutory Sick Pay: What you can get

Recent health concerns in the UK are starting to worry workers – and that’s putting it mildly. Pandemics and tumbling stock prices are rarely good for business and, where businesses struggle, often so to do the personal finances of workers. But what happens if you fall ill in the middle of all this?

Published on 19 Mar 2020 by Sam Griffin

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Lloyds and Nationwide to offer coronavirus mortgage payment holidays

Lloyds Banking Group – which includes Bank of Scotland and Halifax – is just one lending organisation that’s offering to help ease financial pressure on customers impacted by the recent coronavirus (Covid-19). Mortgage payment holidays are the most talked about measure, but there’s a host of other measures for renters and credit card customers too. Worries over debt repayments are understandably widespread, as the virus continues to damage not just the health of workers across the UK but businesses and share prices overall.

Published on 19 Mar 2020 by Sam Griffin

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Everything you need to know about buy now pay later

One of the latest trends in retail is the growing popularity of buy now, pay later schemes. The premise of buy now, pay later is exactly as it sounds, allowing shoppers to delay and stagger payment for a product that they can take home immediately.

Published on 2 Mar 2020 by Andrew Brown

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Child maintenance court records to show on your credit report

Since March 2015, The Child Maintenance Service (CMS) has been sharing information with the UK’s Credit Reference Agencies. This means missed Child Maintenance payments can be flagged up on a late payer’s Credit Report, potentially harming their Credit Rating and making a successful credit application – whether a mortgage, credit card, or loan to name a few – even more tricky.

Published on 20 Jan 2020 by Kirstie Brown

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