Your Financial Credit History

Category: Finance, Credit.

Before you begin reading this article here is a number of insightful definitions.

Equifax pulls together all your financial information from various places to establish a report that reveals your credit history- i. e. your credit report. Equifax is a significant UK credit reference agencies. In the event you request for credit, loan providers will check your file to understand your credit history. The Equifax internet site has a lot of constructive information on making sensible financial choices and guarding yourself from fraudulent practices. You can obtain a copy of your file anytime you like so as to confirm that everything is right. Experian is a significant credit referencing agencies in the UK. This is known as a credit file.

Lenders will refer to credit referencing agencies to determine the suitability of an prospective borrower founded on their credit record. As with anyone, you may obtain a copy of your report from Experian so as to confirm that all the facts and figures on it are right and that your personal information aren t being used illegally. Loan providers will examine your credit file to see your present and earlier financial history. A credit check is a kind of search done by a possible loan provider to appraise how eligible you are for borrowing. Loan providers can then assign you a credit score to identify if the fashion in which you deal with you financial matters fulfils their requirements for borrowing. The data is used by potential lenders, landlords and employers to help them make a decision as to whether approve your application for a loan or other credit. A credit report is basically financial data about you held by a credit reference agency( such as Experian, Equifax or CallCredit plc) .

Or for a job or as a tenant. The data on your file includes: Personal information such as your name and any previous names you have been known by, current and recent, date of birth addresses, current and previous employers. The information on your credit file is updated on an ongoing basis, and is provided by companies who have given you credit in the past and currently. Your financial credit history. Details of credit accounts that were opened in your name( or ones where you are an authorised user) ; whether payments have been kept up to date or missed. This details current and previous credit from the last six years, including amounts currently owed. Any bankruptcies, County Court Judgements( CCJs) or arrears etc.

Provided they have your consent, your report can be viewed by anyone with an acceptable purpose. Information about your current or savings accounts, CCJs that are, or bankruptcies more than 6 years old are not shown on your credit file, nor your political affiliation, ethnicity, medical history, religion, nor criminal records. These include: potential lenders. Any Government Agency. Landlords. Employers and potential employers and an individual or organisation that has your written authorisation to obtain your credit report