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House Insurance appearing on Credit Search as Loan?
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Melvyn
Posts: 44 Forumite
I have found out that my credit file has an unsecured loan I didn't know about - after a bit of digging it seems its my house insurance which is paid in monthly instalments. There was no extra cost to pay it monthly.
Is it not a bit cheeky for that to appear as a loan? Does it affect my credit rating?
Would have paid out upfront if I known this was what would happen.
Is it not a bit cheeky for that to appear as a loan? Does it affect my credit rating?
Would have paid out upfront if I known this was what would happen.
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Comments
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Was it Swinton?
They did that to me...I told them to stick it especially as they were charging 34% interest on the 'loan'Debt Free! Long road, but we did it
Meet my best friend : YNAB (you need a budget)
My other best friend is a filofax.
Do or do not, there is no try....Yoda.
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When opting to pay monthly you are in fact taking credit from the company and they will credit search you and it will appear on your file.
The same goes for contract mobiles, house insurance, buy now pay later deals wit the catalogue etc.
These are all effectively a loan1 Sealed Pot Challenge # 1480
2 Stopped Smoking 28/08/2011
3 Joined Payment A Day Challenge 3/12/2011
4 One debt vs 100 days part 15 £579.62/ £579.62New challenge £155.73/£500
5 Pay off as much as you can in 2013 challenge!£6609.20 / £75000 -
cutestkids wrote: »When opting to pay monthly you are in fact taking credit from the company and they will credit search you and it will appear on your file
Sort of makes sense at least its interest free.
Does this sort of thing affect credit rating? Presume no if you keep paying on time?0 -
I have looked at my Noddle page again and this has now gone from the loan and mortgage bit - dont know why because I am still paying it every month.0
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