Notice of correction advice

flyinggiraffe_2

Hello,

I phoned up to cancel my credit report yesterday (before I get over my 30 day free membership quota) and the lady mentioned that because the default on my file was satisfied I would be able to make a statement of correction which may boost my credit rating.

I understand what this aims to do, but is it worth doing? I'm worried that she only said it so that I wouldn't cancel the membership with them this month?

Does anyone know if a notice of correction really will help to boost my credit rating?

Thanks in advance.:)

thatsean

No, it's extra information which a lender may, or may not choose to use in their decision making process. I guess is depends what else is there, if you're talking an impeccable record and then a couple of months where things go up to 2/3 months behind and then back to impeccable again then it might be worth adding that you lost your job or were ill etc. If we're talking a train wreck of defaults, ccjs etc then I can't see it making any difference. You can add a NOC without subscribing to a monthly credit file service.

flyinggiraffe_2

Thanks for that - I'll give them a call to cancel my membership tomorrow as they don't open on a Sunday.

Have fired off an email about the default though, as it was satisfied pretty sharpish (the gap between finishing uni and a full time job 2 years ago meant there was cash flow issues) and I suppose it can't make my credit rating any worse!