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.

CREDIT REPORT SERVICES AND ONLINE EXPERT HELP ARE FULLY OPERATIONAL - PHONE LINES ARE CLOSEDCOVID-19 STATUS

ONLINE SERVICES FULLY OPERATIONAL
PHONE LINES ARE CLOSEDCOVID-19 STATUS

Disputing a Late Payment or Arrears Marker on your Credit Report

Posted by Kirstie Brown in Credit Reports on 7 February 2020 - Kirstie is a Senior Credit Analyst at checkmyfile.

Many of us have been there – we have too many things on our mind so we may have missed a payment on our credit card or loan. But what happens when you check your Credit Report and spot a late payment or case of arrears that you know aren’t correct? Where do you stand and what can you do to rectify the error?

How do I dispute wrong information on my Credit Report?

We often hear cases from individuals who find themselves being declined a store card, loan or phone contract and have no idea what the cause is. The lender may point you towards obtaining a copy of your Credit Report, and in some cases there might not be anything obvious that would have resulted in an application being declined.

On the other hand, if you do not regularly check your Credit Report to keep an eye on the changing information, it is possible that a particular late payment entry or other negative payment history may have gone unnoticed until you find yourself declined for credit.

The first port of call is to check an up-to-date copy of your Credit Report, so you can see exactly what the lender checked when it assessed your application. Checking your Credit Report for yourself is vital so you can see which companies are reporting information in your details. You can try us free for 30 days, then just £14.99 per month. Cancel easily online anytime.

Contact the source of the information

The first thing to do if you find incorrect negative payment history is to speak to the company it relates to, to query why the entry has been made. For example, if you see a missed payment marker from your credit card provider, which you know is paid on time every month, contact that card provider directly. Although this may seem daunting or perhaps like a lost cause, contacting the source of the information is often the most effective way of getting the matter resolved.

The organisation named against the entry is in control of the data it has shared with the Credit Reference Agencies and it will be able to investigate this for you. Upon investigating further, any information it agrees is incorrect should be amended or removed as necessary at the relevant agency. There is no legal requirement for companies to share data with the Credit Reference Agencies, but by law they must ensure the information they do share is correct.

If the organisation responsible for the data agrees to amend its information, it should tell you how long it’ll be before the change is made, and you can check by viewing an updated copy of your Credit Report.

Contact its complaints department

In most cases, incorrect entries on Credit Reports are corrected with the initial contact. If the response you receive is unsatisfactory though, the next course of action would be to escalate the matter internally. Raising the matter as a formal complaint with the company that has reported the data ensures that your query is looked into thoroughly by an appropriate member of staff – it also allows for any service complaints to be addressed, which are separate to complaints regarding data sharing. This alone should help the issue be resolved, but importantly it lets you escalate the complaint further to the Financial Ombudsman if needed.

Raising a complaint through the Financial Ombudsman can take longer than dealing with the source company directly, but if you’ve been left with little other choice, it is advisable to contact the Ombudsman to carry on the complaint.

Contact the Credit Reference Agencies

While contacting the source organisation is the most effective method of correcting a Credit Report in a timely manner, you can instead raise a Notice of Dispute with the Credit Reference Agency (CRA) holding the information.

Disputing an entry on your Credit Report with a CRA directly will mean that the CRA needs to investigate whether the information is incorrect before any changes can be made. To do this, the CRA will contact the organisation that supplied the information and request to amend the data. Providing the source organisation gives permission, the CRA can amend your Credit Report for you.

CRAs have a statutory 28-day timeframe to investigate and provide a response to a dispute, so it often takes longer to hear back compared to disputing directly with the company responsible. It’s also important to note that because the CRAs are dependent on the source organisation (that owns the data) giving them permission to make any changes, if the company responsible believes it is in the right, it’s very unlikely to let the CRAs change the entry. If this happens, you will have spent nearly a month waiting for an unfavourable outcome.

That said, raising a dispute via the CRA can be useful in some situations, particularly if the source organisation has already admitted an error but is causing a fuss with actually fixing your Credit Report. There are also rare cases whereby another individual’s information features on your Credit Report, which the CRAs can correct themselves. Some specific entries like Financial Associations can only be removed by CRAs.

Raising disputes with all four Credit Reference Agencies on behalf of our customers is a service that we provide for those with active subscriptions. If you are unsure how to have incorrect entries made right, let us know through your checkmyfile account – a professionally qualified Credit Analyst will guide you through it.

How do I check my Credit Report?

Ensuring your Credit Report is correct is always important, especially if you’re looking to apply for credit. If you haven’t already, you can check your Multi Agency Credit Report free for 30 days, then just £14.99 per month, which you can easily cancel online, by email, or freephone. Our Multi Agency Credit Report is the most detailed in the UK, having complete information from the four Credit Reference Agencies, so you know you’re seeing everything.

Updated 07/02/2020 by Sam Griffin

How to separate your Credit Report from an ex-partner

Separating your Credit Report from an ex-partner or spouse is easier than most people initially think. You might be wondering exactly how another person ends up recorded on your Credit Report, whether they are damaging your Credit Score, and if there’s anything you can do to remove them.

Published on 8 Apr 2020 by Sam Griffin

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How Your Phone Contract Affects Your Credit Report

Some people only really consider their Credit Report and the information it contains when they’re about to apply for a traditional form of borrowing, such as a credit card, loan or mortgage. That's why for some it can come as a bit of a surprise to learn that many of the same checks are involved when attempting to take out a mobile phone contract.

Published on 6 Apr 2020 by Tom Magor

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Guide to Financial Associations

It's not uncommon for someone checking their Credit Report for the first time to notice information that’s out of date or simply inaccurate – but by far one of the most frequent offenders for this is the record of a Financial Association.

Published on 24 Mar 2020 by Sam Griffin

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Can Right to Erasure Get Rid of Bad Credit History?

General Data Protection Regulation (GDPR) was introduced on 25 May 2018 and, unless you’ve managed to avoid the internet and checking your emails completely since then, you’re likely to have been bombarded with messages from nervous sounding websites updating their privacy policies.

Published on 5 Mar 2020 by Jamie Mackenzie Smith

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Will checking my credit report affect my credit score

Does checking your Credit Report lower your Credit Score? This a question we’re regularly asked, especially as the importance of Credit Reports is becoming more widely understood. The question seems to be based on a simple idea: when someone else checks your Credit Report, it damages your Credit Score, so it must also be true when you check it yourself. Thankfully, this is far from the truth.

Published on 26 Feb 2020 by Kelly Luff

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How to remove Financial Associations

A Financial Association is another individual with whom you’ve had some financial connection – usually a spouse or partner or family member. Once a Financial Association has been created, it will remain on your Credit Report indefinitely, until you manually request to have it taken off.

Published on 24 Feb 2020 by Sam Griffin

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Other names on my Credit Report

Your Credit Report is a detailed record of your financial history – one that is central to all sorts of major life events, like applying for a mortgage, a new car, or even a job. Unexpectedly finding another person’s name on your Credit Report can therefore understandably cause a bit of a shock.

Published on 19 Feb 2020 by Sam Griffin

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The Advantages of a Multi-Agency Credit Report

These days your Credit Report can be checked for any number of reasons throughout the year, including background checks during job applications, landlord checks and even from insurance or utility providers when you shop around for quotes.

Published on 14 Feb 2020 by Paul Anderson Riley

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Why do organisations share my personal data?

You may have seen recently that Lewisham and Greenwich NHS Trust has been sharing patient data with the Credit Reference Agency, Experian.

Published on 4 Feb 2020 by Sam Griffin

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Your Rights When Cancelling a New Credit Agreement

For most people applying for credit the main concern is whether or not they will actually get accepted. But occasionally a change in circumstances (or even just a little time to reflect on your purchase) means that a bigger concern might be whether you can change your mind and withdraw from a credit agreement (be it a credit card, personal loan or other credit facility) after it’s been granted, potentially preventing you from taking on additional financial responsibility that you no longer want or need.

Published on 3 Feb 2020 by Tom Magor

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