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

Sharking

What is Sharking?

Sharking is a practice sometimes used by lenders and card companies to try to get consumers to purchase additional loan products that consumers often don't want or need, such as Accident Sickness and Unemployment Insurance.

While this kind of tactic was prevalent in the late '90s - early 2000s, regulations have since come into place to reduce the number of cases by preventing lenders from inferring that the success of a loan application depends on whether or not insurance is taken out to cover the loan.

The biggest example of Sharking in recent history was the PPI mis-selling scandal.


Q: How does it work?

A: Typically a loan application will be approved, but instead of being told this, borrowers are told their application has been 'referred' and that they need to call a number. The borrower would then be told that their application is more likely to be accepted with the addition of insurance, at added cost to the borrower.

Q: Is it the same as loan sharking?

A: Not quite. While a loan shark may give someone a loan they need at a high rate of interest, this type of sharking comes about from selling people a type of insurance they haven’t asked for and probably wouldn’t have bought anyway.

Jargon Buster

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