What is a...


A Creditor is the person or company who has extended finance or a credit product to a borrower. Instead of receiving full payment upfront in exchange for the service, the Creditor will receive smaller (usually monthly) payments from the Debtor (borrower) over an agreed upon period of time.

If you open an account with a Creditor (such as a bank, car finance provider, or mortgage lender), it should report the account information to one or more Credit Reference Agencies. This reported account information, sourced from various different Creditors, typically makes up the bulk of the credit history that is visible on your Credit Report.

How can I find out information about my Creditors?

You can find out more information about your Creditors by looking at your checkmyfile Credit Report. You’ll be able to see the name of the lender, its registered address, website, and phone number if applicable. You’ll also be able to find information about the account itself, meaning you’ll have everything you need if you want to discuss existing credit accounts with a lender.

If you haven’t already, you can try our Multi Agency Credit Report free for 30 days, then for just £14.99 a month afterwards. With complete Credit Report data from Equifax, Experian and TransUnion, checkmyfile is the UK’s most detailed Credit Report. You can cancel easily online at any time.

A Creditor has reported incorrect information on my Credit Report – what should I do?

If you find that one of your Creditors has reported incorrect information on your Credit Report (such as a late payment marker when no payment was missed), we recommend contacting the Creditor as soon as possible to request it corrects your information. Creditors are legally obliged to amend any errors once notified of the mistake.

I have Creditors I don’t recognise on my credit report – what should I do?

It is not uncommon for creditors to trade under one name and report payment information using another. Most commonly this will be the name of the service’s parent company or the name of an external finance company, if the credit is not supplied by the retailer themselves.

If a Creditor has reported information using your details and you don’t recognise the account or the amount borrowed, we advise contacting the Creditor directly as soon as possible to query the entry. As the source of the information, the Creditor will be best placed to clarify why they have reported information on your Credit Report. While it is rare, unfamiliar entries on your Credit Report can be a sign of credit fraud, so it is worth taking seriously.

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