What does Credit Reference Agency mean?
A credit reference agency is the number one place a lender will turn to if he needs information on your financial status. The agency is preserving documents relating to the financial past and present of citizens in the UK. The records may contain the following information: - Number of people in your household
- Number of people in your household who are eligible to vote
- Any credit related contracts with third parties you may have had in the past, plus mentioning of any eventual late fees or defaults on certain loans
- Law related issues, like for example citations, judgments
- Bankruptcy filing/order
Your credit scoring together with any eventual bankruptcy order are subject to staying on the record for at least six years, and this may be a huge hindering factor in case of future loans contracting. Credit scoring agencies do release these records upon request to the beneficiary, so that you can comfortably consult your own file. After the request, you are receiving your own file in about one week.
Two of the most important credit reference agencies where you can seek for information are Equifax and Experian plc. Equifax plc can be accessed online at www.equifax.co.uk or at the phone number 0870 514 3700, and Experian plc can be found at their website www.experian.co.uk or by phone at 0870 241 6212. |
