Correcting Errors and Adding Comments
Information on your credit report that is incorrect; or correct but you want to comment can be addressed.
Note: Credit reference agencies cannot and will not remove information unless told to so by the creditor/party who supplied the information or by a higher legal power.
In the first instance, for any entries which are factually incorrect and undisputable, you should contact the instigating creditor/supplier who will hopefully have the correction made.
The following steps apply if this approach has failed and you remain of the opinion the data is incorrect.
Once a default has added it will remain for 6 years and will be difficult to remove. The credit reference agencies themselves cannot make a decision to remove it unless they applied it in error. It can be removed only of if:-
- Whoever put it there – the original creditor or current debt owner agrees to remove it or;
- A judge instructs it to be removed if you go to court over the matter.
- Information Commissioner’s Office (ICO) instructs it to be removed or;
Notice of Correction
A notice of correction is a note that gives further explanation of the information on your report which is not necessarily wrong, but you believe might give lenders a misleading impression of you. For example, you might want to explain that a period of missed payments was due to redundancy or a change in family circumstances.
A notice of correction is a maximum two hundred words, written by you, that you can request to have included explaining why you consider the information to be unfair. For example, you’ve experienced a life-changing event such as illness, but have now recovered and are back in full-time employment.
Once accepted, the note will be visible to a potential creditor or other bodies with reason to review your report, for example, an insurance company. Your statement should not be emotive but give an accurate explanation of why you consider an entry on your credit file is incorrect or unfair.
While a notice of correction can be useful, it can delay a credit check as lenders’ automated scoring systems cannot process it; it must to read and understood by a person.
Notice of Dispute
If you are in disagreement about your credit report data, you can send a Notice of Dispute to the credit reference agencies.
Once they have received this, they will contact the supplier of the information on your behalf. If the supplier agrees that the information is incorrect, the agency will correct your credit report. While your dispute is under investigation, it will be noted on your credit report. Typically the credit agencies complete this process in 28 days.
Some examples are:
- Repayments relating to a CCJ which have been completed.
- Anything fraudulent you have been a victim of (for example, a fraudulent loan in your name with was not honoured).
Certificate of Satisfaction (England and Wales)
If you have paid a County Court Judgment and a payment satisfaction is not noted on your credit report, it is necessary that you contact the Court to obtain a Certificate of Satisfaction. The Credit Reference Agencies should be notified of this within 4 weeks.
Notice of Disassociation
If you are concerned your credit record is influenced by a former business or romantic partner you can apply to have a notice of disassociation attached to your file.
A notice of disassociation states that you no longer have, or have never had a financial connection with the other person. You become financially “associated” with someone when you have joint accounts; such as a mortgage or current bank account.
If the person to whom your associated has a poor credit score – it doesn’t directly affect your score, but it is something that can influence a new lender’s decision to offer you credit.
If you’ve separated from a partner you must close all joint accounts and clear all joint debts – before applying for a notice of disassociation.