How do I repair my Credit History?
I have been rejected for a loan because of my credit history. How can I go about clearing my name?
Contact a credit reference agency:
Callcredit plc
Consumer Services Team
PO Box 491
Leeds
LS3 1WZTel: 0870 060 1414
Experian
Consumer Help Service
PO Box 8000
Nottingham
NG1 5GXTel: 0870 241 6212
Equifax plc
Credit Advice Centre
PO Box 1140
Bradford
BD1 5USTel: 08705 143700
Get a copy of your Credit File
To get a copy of your credit file and find out what the problem will cost £2. If you have a broken credit agreement or incurred a County Court Judgment (CCJ) or Scottish Decree, it will be recorded on your file. You need to provide your full name, D.O.B, current address, and any previous addresses over the past 6 years.
CCJs can not be erased from the database and you should not go to a credit repair company which claims it can wipe out CCJs. But if you pay off the CCJ, you can ask the credit reference agency about how to contact the county court concerned for a "certificate of satisfaction". The CCJ is then marked as satisfied on the database.
You can also add a "notice of correction" to your file which explains any special circumstances such as long term illness which made you get into debt in the first place.
If you are not in debtyou could be affected by a member of your family with the same surname and address, who is in debt. If you are not financially affected, ask the credit reference agency for a ' Disassociation '.
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]