Liability is used to describe any form of loan, borrowed credit, or financial obligation that needs to be paid. It includes (but is not limited to) mortgages, loans, any outgoing salaries, legal fees, pensions and even interest that needs to be paid out. Liability is factored in when working out a person’s assets along with any equity they may have.

Can I see liability on my Credit Report?

Any formal credit agreements that constitute liability will appear on your Credit Report, but because of the wide range of outgoings that count, it’s possible that you are responsible for more than what appears on your report.

checkmyfile shows all the information recorded about you at Equifax, Experian and TransUnion, on the same report, saving you time and ensuring you don’t miss anything important.

You can check your Multi Agency Credit Report with checkmyfile. It’s free for 30 days, then just £14.99 per month. Cancel online at any time.