Identity Theft and Credit Reports

A collection of 'MUST READ' articles about Identity Theft and Credit Reports.

This is ALL such vitally important info... if you haven't got the time to read it all at present... please read the last article NOW. The title is 'How to avoid identity fraud'... you need to know!

You can always bookmark this page and return later to read the rest of this vital Identity Theft and Credit Report information.

With an ever increasing number of victims of this crime being reported in the media... the worry, and the time consuming nature of trying to sort out the problem once you have fallen victim... everything you can do to avoid becoming a victim needs to be set in place as soon as possible!

Did you know that eighty per cent of councils say it is a problem, and that about a quarter of the population has had - or knows someone who has had - problems in this area? DO make sure YOU don't add to those statistics!

Also included now is a form where you can obtain EXTRA useful information which is not included on this page... it will help you keep one step ahead of computer information thieves, scamsters, plus those involved in identity theft and other similar crimes. You will find the form near the bottom of this page.

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Identity Theft and Credit Reports

How does my credit report affect me? The contents of your personal credit report can have a bearing on whether or not you are given credit. Factors other than the information held on a credit report may contribute to a lending decision as well (such as the information you provide on your application form), but your credit report is important. Identity Theft and Credit Reports Your credit report can affect your ability to: • Get a loan • Get a credit card • Obtain a mortgage • Credit scoring It's important to be aware that different companies use different methods when they are deciding whether or not to give you credit. You do not have a single credit score and credit scores are not shown on your credit report Identity Theft and Credit Reports Get it right! As the information held by credit reference agencies is used to determine what credit you can obtain, it is important those details are right. Click here to see what information is held on your credit report To view your personal credit information that lenders are currently basing their credit decisions on, apply online for a credit report from Experian, the UK’s largest credit reference agency, now. You will also receive a 30-day free trial to the CreditExpert Monitoring Service from Experian. Identity Theft and Credit Reports Get your credit report - free Ever wondered why you’ve been turned down for a new purchase or a loan? Credit ratings seem to be a mystery to most people, as many don’t know their rights, how lenders make their decisions, how credit scores are calculated and how they can be challenged and improved. The contents of your personal credit report can have a bearing on whether or not you are given credit. Factors other than the information held on a credit report may contribute to a lending decision as well (such as the information you provide on your application form), but your credit report is important. You have the right to view the information contained in your credit report to make sure it is accurate. If errors are found, you are entitled to apply to have them corrected. Having the ability to view and challenge your credit report is important, as; in addition to providing the basis for a lending decision, your credit rating may also affect the interest rate you are offered by lenders, which could lead to more costly borrowing. Credit reports are compiled by credit reference agencies using information from two main sources: 1) The Public Record: e.g. electoral roll information, court judgments, individual voluntary arrangements and bankruptcies. 2) Information provided by lenders and financial institutions: e.g. credit accounts, credit applications and financial associations. When you apply for a loan, the lender will typically contact a credit reference agency to check the information on your credit report, in order to help them calculate your potential creditworthiness and risk. These calculations are done by the lender and may vary between lenders. It is important to note that the credit reference agency does not offer any comment or advice and does not know how the information a lender has seen will affect the lending decision. To view your personal credit information that lenders are currently basing their credit decisions on, apply now for a free online credit report from Experian, the UK’s largest credit reference agency. You will also receive a 30-day free trial to the CreditExpert Monitoring Service from Experian. Click here for a free 30-day trial and a free copy of your credit report Identity Theft and Credit Reports How does my credit report affect me? The contents of your personal credit report can have a bearing on whether or not you are given credit. Factors other than the information held on a credit report may contribute to a lending decision as well (such as the information you provide on your application form), but your credit report is important. Identity Theft and Credit Reports Your credit report can affect your ability to: • Get a loan • Get a credit card • Obtain a mortgage • Credit scoring It's important to be aware that different companies use different methods when they are deciding whether or not to give you credit. You do not have a single credit score and credit scores are not shown on your credit report Identity Theft and Credit Reports Get it right! As the information held by credit reference agencies is used to determine what credit you can obtain, it is important those details are right. Click here to see what information is held on your credit report To view your personal credit information that lenders are currently basing their credit decisions on, apply online for a credit report from Experian, the UK’s largest credit reference agency, now. You will also receive a 30-day free trial to the CreditExpert Monitoring Service from Experian. Click here for a free 30-day trial and a free copy of your credit report Identity Theft and Credit Reports Are you on a credit blacklist? The simple answer is no, you're not. There is no such thing as a blacklist. Credit reference agencies only display factual information about people, most of which is provided by lenders. They do not offer opinions about your creditworthiness (that is, whether you are likely repay credit). Companies make their lending decisions using credit scoring based on information held by credit reference agencies, additional information you may have provided, plus their own internal processes. The information credit reference agencies hold shows that most people are actually good payers and make repayments on time. Identity Theft and Credit Reports What is credit scoring? Credit scoring is a technique used by companies to help them assess the risk involved in lending someone money - it involves building a score based upon the details provided by you on the application form and the information held on your credit report. It may be that the information you supplied on your application form meant that you did not fit the lender's 'customer profile' and that the information held by a credit reference agency did not affect the decision. Different companies take different information into account and therefore your application may be accepted by one company but declined by another. If you are declined credit the lender should tell you the main reason for this - whether their decision was based upon a credit score, information held on your credit file or on their own specific policy. If the decision was based upon your credit report, the lender should tell you the name and address of the credit reference agency they used. Identity Theft and Credit Reports Always check your credit report! It always makes sense to obtain a copy of your credit report either before you make an application or if you are declined credit as a result of the information held by a credit reference agency. Your credit report will include all the information that any company you apply to may see and should help you to establish why your application to them was declined. It will not state the reason you have been declined because only the company you applied to will know this. Do not make repeated applications for credit once you have been declined. Each application you make is likely to result in a search of your credit report. These searches will be registered and could affect future applications. Establish why your application was declined before making further applications. To view your personal credit information that lenders are currently basing their credit decisions on, apply online for a credit report from Experian, the UK’s largest credit reference agency, now. You will also receive a 30-day free trial to the CreditExpert Monitoring Service from Experian. Click here for a free 30-day trial and a free copy of your credit report Identity Theft and Credit Reports How can I make changes to my credit report? There is a variety of information held on your credit report from a variety of sources. If any of it is wrong, it could affect your ability to get credit. Identity Theft and Credit Reports Here's how to correct the information held on your report. The electoral roll If you have registered to vote and your credit file does not show this, please contact the credit reference agencies listed at the bottom of this article and they will investigate the matter. If you have not registered to vote, you may want to contact your local authority about filling in an electoral registration form. If you move home you can tell your local authority who will tell credit reference agencies about your change of registration in the course of the year. Identity Theft and Credit Reports Court judgments If you believe a county court judgment has been recorded incorrectly, you should contact the county court, quoting the case number included on your file. If the judgment was recorded incorrectly the county court will alter their records. Credit reference agencies are told about any such changes within four weeks, but if you give them original court documents, in the form of a Certificate of Satisfaction or Cancellation, they may be able to change their sooner if necessary. If you have paid a Scottish Decree, you should send Registry Trust (address below) a receipt or a letter from your creditor (known as the pursuer) to confirm your payment. If you write to Registry Trust Ltd questioning the accuracy of a judgment recorded on your file, asking for an entry to be changed, you should send a cheque for £4.50 to cover their search fee. They will then tell the credit reference agencies about any change to your file. For judgments made in Northern Ireland, if you provide documents from a plaintiff to confirm a payment, the agencies will change their records. If you have any questions about the accuracy of a judgment recorded on your file, contact the court concerned. Registry Trust Ltd. 173-175 Cleveland Street London W1P 5PE Identity Theft and Credit Reports Bankruptcies If a bankruptcy order against you is annulled (cancelled) or discharged (that is, you have met all terms), you should send a copy of the Annulment Certificate or Order of Discharge to the credit reference agencies. They will then update their records. If your bankruptcy has been annulled they should completely remove any record of it from your file. If your bankruptcy has been discharged a record of it will be kept on your file but it will show that it has been discharged. Identity Theft and Credit Reports Voluntary arrangements If you have any questions about a record of a voluntary arrangement you should contact the supervisor who dealt with your case. If you send documents from the supervisor to confirm that the information on your file needs to be changed, the agencies will change their records. Identity Theft and Credit Reports Credit accounts After carefully studying the credit account details (credit cards, loans, mortgages, etc.) on your file, if you believe any information needs to be changed you should write to the lender concerned and ask them to give the correct information to the credit reference agencies. Identity Theft and Credit Reports Searches Credit reference agencies will delete searches only when they are instructed to do so by the company who searched your file. If you are concerned about the accuracy of a record of a search, you should contact the company which carried out that search. Identity Theft and Credit Reports Linked addresses Links between your previous addresses, or any addresses you may use for correspondence, may be listed on your credit file. The link will only be broken when the reference agencies are asked to do so by the organisation that created the link. Identity Theft and Credit Reports CIFAS If you have any questions about a CIFAS record, write to the organisation concerned. If you disagree with that organisation over the information on your file, ask the organisation for details of the scheme for settling disputes. Identity Theft and Credit Reports Financial associations (shared financial responsibility) If a financial association is shown, and you do not share a financial responsibility with the other person, or if that financial association no longer exists, you should write to the credit reference agencies. They will investigate the matter and make any necessary change to your file. Identity Theft and Credit Reports Aliases If any names are shown on your credit report that you have never used, you should contact the company listed as providing the other name, or write to the credit reference agency and they will investigate the matter and make any necessary changes to your file. Identity Theft and Credit Reports Information about other people If you share no financial responsibility with any other person mentioned on your file you can ask the agencies to ‘create a disassociation’. This breaks any connection between your information and theirs and so makes sure their information is removed from your file, and that your information is removed from theirs. To do this you must give the agencies your, and the other person’s, full name and date of birth, details of your relationship and any shared addresses. To view your personal credit information that lenders are currently basing their credit decisions on, apply online for a credit report from Experian, the UK’s largest credit reference agency, now. You will also receive a 30-day free trial to the CreditExpert Monitoring Service from Experian. Protect yourself from Identity fraud. Identity Theft and Credit Reports What to do if you've been refused credit? There could be many reasons why a lender has refused to give you credit. You may have too many debts already to pass their credit scoring check or personal information on your credit report might be incorrect. If you are declined credit the lender should tell you the main reason for this - whether their decision was based upon a credit score, information held on your credit file or on their own specific policy. If the decision was based upon your credit report, the lender should tell you the name and address of the credit reference agency they used. Identity Theft and Credit Reports Always check your credit report! It always makes sense to obtain a copy of your credit report either before you make an application or if you are declined credit as a result of the information held by a credit reference agency. Your credit report will include all the information that any company you apply to may see and should help you to establish why your application to them was declined. It will not state the reason you have been declined because only the company you applied to will know this. Do not make repeated applications for credit once you have been declined. Each application you make is likely to result in a search of your credit report. These searches will be registered and could affect future applications. Establish why your application was declined before making further applications. It is valuable to monitor the information held by credit reference agencies and to ensure that it shows what you believe to be an up-to-date and accurate reflection of your credit history. View your personal credit information that lenders are currently basing their credit decisions on. Apply online now for your credit report from Experian, the UK's largest credit reference agency. You will also receive a 30-day free trial to the CreditExpert Monitoring Service from Experian. Click here for a free 30-day trial and a free copy of your credit report Identity Theft and Credit Reports What is credit monitoring? Ever been taken by surprise and turned down for credit? Have you read about the growth of identity fraud and do you worry about becoming a potential victim? With the new CreditExpert Monitoring Service from Experian, the UK’s largest credit reference agency, you needn’t worry again. You can now keep track of your personal credit information and be informed when key information on your credit report changes. CreditExpert is a subscriber service, which gives you more control over your credit information and also helps you protect yourself against the growing threat of ID fraud. It provides you with unlimited online access to your personal credit report and alerts you when activity has taken place on your credit report. Weekly alerts are sent to personal email addresses or via SMS text. As soon as an alert is received, you can link to www.creditexpert.co.uk, where you have unlimited access to your full and up-to-date personal credit report, to see what changes have taken place. If the activity is not legitimate or is inaccurate, e.g. someone has applied for a loan in your name or the lender has provided incorrect information to the credit reference agency, there are tools and resources available to help you take appropriate actions to stop further problems. If the activity is legitimate, you have the peace of mind of knowing that your valuable personal credit data is sound. CreditExpert is the first and only service in the UK to provide you with unlimited online access to your full credit history, which is even more than a lender would see. With CreditExpert, reports will include information such as loans, loan terms and repayment history, plus the source of that information. In addition, you will be able to see the public information that forms part of your credit report. CreditExpert offers consumers a 30-day free trial of its new credit monitoring service, which also includes a free personal credit report. In addition, the service comes with a 90-day money back guarantee, an online quarterly newsletter with topical articles and features on personal finance issues, access to useful tools and calculators to help you with personal finance decisions and numerous online resources to address potential credit queries. Click here for a free 30-day trial and a free copy of your credit report Identity Theft and Credit Reports Other information A record of lenders who have searched your file as a result of you applying for credit will be shown on your file for 12 months. This information can help lenders identify any unusual credit activity or overcommitment. If your file specifies ‘unrecorded enquiries’, this shows that a company has searched your file for non-lending purposes. However, this information is shown only to you, not to lenders searching your file in order to make a lending decision. Lenders may also search your file to give you a credit quotation. These are recorded as quotation searches so other lenders do not mistake them for credit applications. Agencies make a record (known as a ‘footprint’) on your report to show that a file has been applied for in your name and address, but this will be shown only to you and not to lenders. Your previous addresses, or any addresses you may use for correspondence, may be listed on your credit file. These links are created by account information moving between addresses, as a result of lenders checking your records at previous addresses, or as a result of information you give to the credit reference agency. Your credit file will show the two addresses that are linked, how the link was created, and the date and source of the link. The link will only be broken when agencies are asked to do so by the organisation that created the link. Identity Theft and Credit Reports CIFAS CIFAS is a system developed in consultation with the Office of Fair Trading and the Office of the Information Commissioner. It aims to detect and prevent fraud, and so protect innocent people whose names, addresses or other details are used fraudulently by others in order to get credit. A CIFAS warning on your file does not mean you are being accused of fraud. Organisations who are members of CIFAS examine credit applications very carefully, and may contact you to make sure you have applied for the credit. They will not automatically refuse applications from people with warnings on their file. Identity Theft and Credit Reports GAIN - Gone Away Information Network Credit reference agencies are members of GAIN, a network through which lenders share information on customers with debts who have moved home without telling their lenders of a forwarding address. The information may include both the address the customer moved from and any address the customer has since been recorded as living at. If you share a financial responsibility with someone else, for example a joint court judgment, a joint account or a joint application for credit, this will be shown on your credit file together with who you share the responsibility with and when the connection was created. Agencies may be told about any other names you have been known by and your file will show who gave them the information. Identity Theft and Credit Reports Information about other people Your file may include financial information about members of your family who live, or have lived, with you. Lenders can take this information into account when assessing an application you make for credit. By law this information must be included on your credit file because you must be shown all the information that is available to lenders, whether or not they use it. The rules on using information about other people are changing and, in the future, financial information about other people will not be included on your file. After these changes have been made, only your own credit history, and that of anyone you share a financial responsibility with, will be provided to a lender. To view your personal credit information that lenders are currently basing their credit decisions on, apply online for a credit report from Experian, the UK’s largest credit reference agency, now. You will also receive a 30-day free trial to the CreditExpert Monitoring Service from Experian. Click here for a free 30-day trial and a free copy of your credit report Identity Theft and Credit Reports How to avoid identity fraud Here are some ways to help reduce the risk of your identity being stolen: Be careful who you give personal information to. Check the identity of people who call, for example saying they are from your bank or credit card company, and ask for sensitive information. Call them back using the number Directory Enquiries gives you for the organisation Only use secure websites when submitting personal information over the internet (look for https:// in the URL or the padlock sign at the bottom of the page) visit www.cardwatch.org.uk for further tips Shred sensitive rubbish (such as bank statements, utility bills, credit card receipts) Contact your local post office immediately if your mail suddenly stops arriving (fraudsters have been known to redirect people’s mail) If you move home, get a copy of your credit report to help you remember to give your new address to all the companies you deal with. Register with the Mailing Preference Service to take your name and previous address off the majority of UK mailing lists and arrange for your mail to be forwarded by the post office. Why not try a 30-day free trial of the CreditExpert Monitoring Service from Experian, which alerts you to changes to your credit report. Click here for a free 30-day trial and a free copy of your credit report We hope you have found this page on Identity Theft and Credit Reports of assistance, if so, why not bookmark it now? The links below are for your convenience in returning from this Identity Theft and Credit Reports page to 'Finance & Credit' [which has more vital information and resources to offer you on Identity Theft] OR to our 'Home' page. FROM... 'Identity Theft and Credit Reports' back to 'Finance & Credit' FROM... 'Identity Theft and Credit Reports' to our 'HOME' page. Save money... check out our Switching Energy [and other] Suppliers page! *** Identity Theft... EXTRA information Please note that all fields followed by an asterisk must be filled in. 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