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

How Far Back Can I get my Credit History?

Posted by Jamie Mackenzie Smith in Personal Finance on 10 January 2020

For your recent payment history information, your Credit Report has everything you need; that’s why it’s given so much importance by lenders whenever you apply for credit. But if you’re looking for information that’s six years old or more, it’s probably not be the best place to start.

The infamous PPI ‘claims deadline’ (which was set for 29 August 2019) sent a large number of people hunting for old account information with a view to make a claim on insurance that may have been mis-sold on a loan. For that particular purpose, your Credit Report might not have been that useful as the information doesn’t go back further than six years, so you simply won't see records of credit agreements that ended before that.

That said, the amount of information your Credit Report contains is still considerable. To see data from all four Credit Reference Agencies, you can try checkmyfile free for 30 days, then for just £14.99 a month afterwards which you can cancel online, by email or by phone.

Getting old credit reports

If you’ve seen your Credit Report already, you’ll be aware of the amount of detail that is held about you and your finances over the past six years. But your Credit Report is based on information that is constantly getting updated, in order to best reflect your current financial situation. Because of the way data is updated, there are no ‘old versions’ of your Credit Report being stored anywhere - it’s not as simple as calling up and asking for a copy of your Credit Report from August 1993.

Under the Data Protection Act, your information is only stored by Credit Reference Agencies for six years once it’s stopped being reported by lenders. The Data Protection Act prevents companies from keeping data longer than they need it, which means repayment history will be held for six years once an account has been closed or settled, but address and contact information for longer if they deem it necessary.

For this reason, lenders can (for the most part) only use the past six years of your payment history when looking at your Credit Report to assess whether you are a good or bad credit risk. This also means you’ll be subject to the same limitations when you view your own information, making it unlikely that you’ll be able to see accounts that have been closed for a long time.

Financial Associations are treated slightly differently and remain on your Credit Report until the account is closed and a manual request is made at the Credit Reference Agencies to remove them. If you’re looking to have an old Financial Association removed, check our guide.

The difference between open & closed credit accounts

There’s more to a good Credit Rating than taking out finance for a short time, closing the account and assuming that the ‘good’ marker will stay with you forever. Much like a fitness regime, you have to maintain it over a long period of time or risk undoing all your good work.

Maintaining a strong Credit Rating over a long period of time isn’t about ‘debt’. Simply using a credit card for basic purchases and clearing the balance each month will allow you to paint a picture of being able to manage credit facilities, and ensure that the information stays front and centre when it comes to applying for larger things such as mortgage.

Be careful about keeping old, unused credit accounts open. Some lenders will deactivate an account for being dormant too long, and there is the heightened possibility of falling victim to fraud if you don’t use or check the card regularly enough.

Some assume that because most negative information no longer appears on a Credit Report after six years that it will become statute barred and the debt will be written off. This is rarely the case. It’s true that defaults and CCJs are removed from Credit Reports once six years pass from date of issue but often the debt itself still exists. Just because they may have fallen off of a Credit Report doesn’t necessarily mean the debt can be ignored – it simply won’t be visible when performing a credit check.

Finding old mortgage information

As with other loans and forms of finance, if you’re looking for mortgage information that’s more than six years older, you’re unlikely to see it on your Credit Report, so you’ll have to change tack. The best place to get information about any previous mortgages is from paperwork you should have relating to the mortgage.

If you don’t have any mortgage paperwork, you can try searching for the property using the Land Registry database. For £3 you can conduct a title register search, which will give you mortgage information on any property. They may also provide a copy of the mortgage deed, which in some cases may even carry an account number.

Historic bankruptcy

Bankruptcies are handled slightly differently - like many other forms of negative information they will appear on your Credit Report for six years after being discharged, but they can remain indefinitely in the rare cases where they are not discharged.

When applying for a loan or mortgage, you will probably be asked if you have been declared bankrupt at any time. This includes after the six year period of the bankruptcy being discharged and if asked, you are legally obliged to provide this information or risk nullifying the complete credit agreement.

A last-minute bankruptcy check is carried out on you shortly before you complete a house purchase, which checks to see if you have been declared bankrupt. The Bankruptcy and Insolvency Register is checked against your name and anyone matching your name that has an insolvency will be shown. You are welcome to check this information for yourself at any time, which could be useful if you need to find the exact dates of a bankruptcy being issued.

What can my Credit Report show me?

Your Credit Report is the single most useful place to look at the financial landscape you’ve created for yourself. It shows lenders what type of borrower you’ve been in the past, how you’re managing current credit facilities, and based on that, what you’re likely to do in the future. Other key information includes your Electoral Roll status (which can differ at each Credit Reference Agency), Financial Associations and Aliases, linked addresses, searches, fraud warnings, Court Records and more besides.

So, chances are, if you have questions about your recent credit history, your Credit Report will hold the answers you seek. You can check your Multi Agency Credit Report free for 30 days, then for just £14.99 a month afterwards. Sign-up is quick and cancellation is easy. It’s the UK’s most detailed Credit Report, with information from all four Credit Reference Agencies, not just one, so you can be sure you’re seeing the bigger picture.

Updated on 10/01/2020 by Sam Griffin

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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Blue Monday: The Most Wonderful Time of the Year

Once Christmas is done and dusted, tree packed away or sent for shredding, and decorations retired for another year, a powerful mindset seems to swiftly grip the UK, leaving everyone convinced that January is the worst time of the year. The Christmas spirit has floated out the window as quickly as it arrived, and we’re left with cold, rainy days and the inevitable mountain of credit card bills.

Published on 2 Jan 2020 by Sam Griffin

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Do New Year's Resolutions Work?

Before launching yourself into a New Year’s resolution, it’s worth treating the age old tradition like any other product or service – check out reviews from people that have already tried it, see if it’s worth the effort and – crucially – find out whether or not it will actually work.

Published on 24 Dec 2019 by Sam Griffin

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Applying for credit at christmas

Christmas is known as the season of giving, but it can be easy to go overboard. There are two very important questions you should ask yourself before launching Christmas presents at everyone: ‘How much is this going to cost?’ and ‘What’s in it for me?’ Let’s find out.

Published on 23 Dec 2019 by Beth Reeves

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Which Credit Report Information Can Landlords See

These days whenever you rent a property you may be required to pass checks set by the landlord or letting agent to prove that you will be a good tenant and can reliably make rent payments to the property on time.

Published on 20 Dec 2019 by Kevin Pearce

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CCJs or County Court Judgments

It’s no secret that the levels of unpaid debts in the UK have been rising over the last few years, as household incomes stagnate and everything else in this world seemingly becomes more expensive. According to Credit Action, debt per adult is over £31,000 – or around 110% of average earnings. It’s also projected to take a whopping 26 years of consistent, minimum monthly payments to clear an average credit card. Debt may be all around us, but what happens when payments can’t be made when they fall due?

Published on 6 Dec 2019 by Kevin Pearce

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Could your Netflix and Spotify subscriptions help build your Credit Score?

Building creditworthiness takes time and diligence. At the heart of improving your Credit Rating is the simple habit of managing existing credit agreements well, and proving to potential lenders that you are a good credit risk.

Published on 31 Oct 2019 by Andrew Brown

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