Credit History information is available from Credit Reference Companies such as Experian who provide this information to lenders and the public.
Where does the information come from?
Quite simply, credit reference agencies source information from public databases such as the electoral roll, court judgments and voluntary and involuntary bankruptcies supplied by the Insolvency Service. In addition, there is a scheme operated on behalf of loan lenders called Credit Account Information Service or CAIS. Provided consumers have given permission, lenders can upload information about their customer regarding how much they owe, loan repayment history and current and past credit agreements. To safeguard consumers interests the scheme is run in accordance with the 1988 Data Protection Act.
Why would the Public require this information?
Checking your own credit history can be a useful way of finding out your profile before applying for a secured loan or if you have been refused credit. In addition, this information may also help if you have been a victim of identity fraud. Several companies provide this information to consumers which is accessible online usually for a small fee. If there are errors with your credit history some of the companies providing this information maybe able to offer free advice on what steps to rectify the problem.
Where does the information come from?
Quite simply, credit reference agencies source information from public databases such as the electoral roll, court judgments and voluntary and involuntary bankruptcies supplied by the Insolvency Service. In addition, there is a scheme operated on behalf of loan lenders called Credit Account Information Service or CAIS. Provided consumers have given permission, lenders can upload information about their customer regarding how much they owe, loan repayment history and current and past credit agreements. To safeguard consumers interests the scheme is run in accordance with the 1988 Data Protection Act.
Why would the Public require this information?
Checking your own credit history can be a useful way of finding out your profile before applying for a secured loan or if you have been refused credit. In addition, this information may also help if you have been a victim of identity fraud. Several companies provide this information to consumers which is accessible online usually for a small fee. If there are errors with your credit history some of the companies providing this information maybe able to offer free advice on what steps to rectify the problem.
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