There are many factors creditors consider before offering credit. Here are some common un-truths about the process. (more…)
Archive for the ‘Credit Records’ Category
Comman Misconceptions About Credit Reports
Thursday, March 20th, 2008Opening a new bank account with bad credit
Thursday, March 6th, 2008For many people, the biggest mistake they make financially is having debts with their own bank. Banks have the “right to offset” i.e. they will always take money from a debtor to cover the debts with the bank in preference to any other payments due.
Stay well clear of credit repair scams.
Monday, August 20th, 2007The is no such thing as credit repair – other than by prompt and continious credit repayments.
Credit reports contain only factual information about you, credit you have applied for and payments you have missed. There is no way of removing information that is unfortunately correct - It stays there for 6 years.
It can be true that you have a damaged credit file due to incorrect information; therefore you are advised to obtain a copy of your credit report to make sure this is not the case.
You may also may want to make sure that entries that should be there are not missing, for example notification of satisfactory payment of a debt relating to a CCJ.
See the link for advice on fixing incorrect information on your credit report > Correcting Credit Reports
