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Credit Reports: Fixing Errors on your Credit Report

If there are errors on your credit report, you can have them removed via a Notice of Correction, Notice of Dissociation, or Notice of Dispute. It is not possible to have correct information deleted from your credit report. All adverse data remains on your credit report for six years. The only way to repair bad credit is when the data on your report is misleading or false.

Notice of Correction

If there is data on your credit report that is true but you believe affects your ability to obtain credit in an adverse fashion, you may apply for a notice of correction to be applied to your credit report. This is a statement of no more than two hundred words of why you think the data is misleading. Some valid reasons of this may be the fact that you recently got married, divorced, changed your name, or separated from your partner. You may also have fallen behind on credit repayments due to an illness, but are now recovered and are back in full time employment.

Once the notice is on your credit report, it will be shown to potential lenders when you apply for credit. The statement should thus be addressed to any potential creditors who may view your report when you are applying for credit. Your statement should not be emotional. It should given accurate explanation of why you think a particular entry on your credit file is either incorrect or misleading. The Notice of Correction should not be scandalous, frivolous, or defamatory in any way.

 

 

Notice of Disassociation

If you feel that your credit record has been adversely affected by a former loved one or business partner, or anyone else who shares your address, you can apply to have a notice of dissociation attached to your file. This notice states that you no longer have, or no longer had any financial connection with the other party. If the person living at your address has your surname, it will be assumed that they are connected to you by credit agencies. Even in the event that you are part of a house share and the same surname just happens to be a coincidence, it can have a negative or positive effect on your credit record.

On such a notice, it is thus vital to state the following:

  • You do not share a bank account or hold an account in both names
  • You do not have a mortgage in both names
  • You have no active credit agreements in both names
  • You have no other shared financial links
  • You have separate income, which is independent of the other parties.

Notice of Dispute

If you think that the data on your credit report is wrong, you can dispute the alleged entries by contacting your creditor or issuing a notice of dispute to the credit reference agencies. This is only for data on your credit report that is in your name. Once your Notice of Dispute has been received by the credit reference agencies, the supplier of that data will be contacted on your behalf. If the supplier then agrees that the data is incorrect, your credit report will be corrected by the agency. While the dispute is being investigated, it will be noted on your credit report. This usually takes around twenty-eight days. Some examples of situations where such a notice might be valid are any instances of fraud you may have been a victim of, or repayments relating to a CCJ that have already been completed.

Certificate of Satisfaction

 

If you have paid a CCJ and a payment satisfaction has not been noted on your credit report, you must then contact the court in order to obtain a certificate of satisfaction. The credit reference agencies will then be notified within a month.

Court Decree

 

If your court decree has been settled, and this is not reflected on your credit report, you must then send the credit agencies correspondence from the plaintiff that asserts that payment has been made.

Register of Judgments

The Register of Judgments, Orders and Fines keeps track of all the CCJs that have been made against you. This is used as a source by credit reference agencies. You may want to check this register to make sure that no judgments you are unaware of have been made against you.

UK Credit Agencies :

  • Equifax Plc
    Credit File Advice Centre
    PO Box 1140
    Bradford
    BD1 5US
    www.equifax.co.uk
    (You can order your credit file on the internet or by telephone).
  • Experian Limited (tel: 0870 241 6212)
    Talbot House
    Talbot Street
    Nottingham
    NG1 5HF
    United Kingdom
    www.uk.experian.com
  • Callcredit plc (tel 0870 060 1414)
    Consumer Services Team
    P O Box 491
    Leeds
    LS1 5XX
    www.callcredit.plc.uk

Registry of Judgments, Orders and Fines :

 

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