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Question Of The Week: Credit Reports
Former_MSE_Penelope
Posts: 536 Forumite
Q. If a credit debt doesn't show on your credit report do you still have to pay it off? From Hilary by email.
Martin's A: The credit reference agencies aren't an official list of all debts, they're primarily a service for lenders to help provide information used to decide who to lend to.
Plus there are three of them, so just because it isn't listed on one, doesn't mean it's not on the others (see credit rating for how to check them all). The fact it isn't listed doesn't stop the need for you to repay it, nor does it mean the company can't take you to court.
Yet if it isn't listed on any of the agencies files, the outstanding debt is unlikely to impact your ability to get other credit, but if you weren't to pay and got a County Court Judgement against you, that would almost certainly be on your file and kaibosh your score.
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Martin's A: The credit reference agencies aren't an official list of all debts, they're primarily a service for lenders to help provide information used to decide who to lend to.
Plus there are three of them, so just because it isn't listed on one, doesn't mean it's not on the others (see credit rating for how to check them all). The fact it isn't listed doesn't stop the need for you to repay it, nor does it mean the company can't take you to court.
Yet if it isn't listed on any of the agencies files, the outstanding debt is unlikely to impact your ability to get other credit, but if you weren't to pay and got a County Court Judgement against you, that would almost certainly be on your file and kaibosh your score.
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