Credit score on reposessed property

phil_thrifty

Hi folks,

I couldn't decide which category to put this question in, apologies if it should be somewhere else.

I am in the early stages of purchasing a reposessed house. As an enthusisatic user of 0% balance transfers I like to maintain a healthy credit record.

Has anyone any experience of adverse credit record after moving to a reposessed property, and can this be corrected by contacting Equifax or Experian?

Any info much appreciated. :beer:

phil_thrifty

Equifax's site says that you can do a "notice of disassociation" if you find credit listed on your records that is not yours. So I guess any credit relating to a repossessed property might be dealt with in this way.

Any further ideas or comments much appreciated....

file_wizzard

can you explain a bit further?

any credit information that is used to "score" an applicant is related to the person only not the address.

the only exception to this being CIFAS fraud information which is directly linked to the address to prevent misuse of any 3rd party’s credit file

phil_thrifty

Hi file_wizzard,

I understood that sometimes credit information can stay with an address, and cause problems to someone with a reasonable credit record. If it is the case that credit applications only relate to the person applying and not any bad credit associated with the address, I would be more than happy!

Thanks for you response,

phil_thrifty.

Thanks

file_wizzard

phil_thrifty wrote:

Hi file_wizzard,

I understood that sometimes credit information can stay with an address, and cause problems to someone with a reasonable credit record. If it is the case that credit applications only relate to the person applying and not any bad credit associated with the address, I would be more than happy!

Thanks for you response,

phil_thrifty.

Thanks

This is entirely the case, the CIFAS information ( is there is any at this address) is not used to score your personal application in anyway.

Even if there is a CIFAS flag at the address then all that the lenders would be obliged to do is undertake a manual check on your identity before opening an account, this is obviously a positive thing rather than a negative one !

https://www.cifas.org.uk

Zaphod_Beblebrocks

We purchased a reposession 8 yrs ago and whilst it didn't seem to effect our rating we did haveabout a year of constant letters and even a few visits from debt collection agencies,the woman had more names than the local phone book,we used to just write no longer at this address until a baliff turned up,he got quite ratty because we didn't have a forwarding address and hadn't opened the letter and told him the person wasn't there.