Letting agency "credit checks" and experian scores - fair?

John1993_2

jeystone wrote: »

If you are so perfect, why are you on a debt forum?

The forum needs some people who have no money problems, to advise those of you who keep getting yourselves into a mess.

Unlike you, others on here appreciate people helping them out. You just have a little temper tantrum, try to act superior, and then rush headlong into your mire.

212

If an individual were to sign a document giving full disclosure of a credit file to a agent/tenant referencing company, the company still only get public information?

And the score will not included defaulted bank accounts etc?

So basically if it doesn't go to CCJ stage, nobody knows unless you mention it - because for the 'score' you could be verging on the brink of bankruptcy (missing payments, defaults etc left right and centre) but on your public file you are perfect??

Now to pray they don't turn my default into a CCJ!

Experian_company_representative

It's not really about consent. The credit data sharing we host is an agreement between all participants to exchange data with each other. It's like a club in a way. The rules of the club include having to share data to access data and also that you can only access the level of data you yourself share. So default sharers can only see others' defaults. As landlords don't currently share any data with other data sharers through this scheme they have no access to the pooled data at all. That's not to say this couldn't change in the future, but at the moment they are not data sharers so cannot access the credit account data on your credit report.

James

Bubbalou

What is a huge problem is the goalposts have moved a lot.

It wasn't a problem to have issues with your credit file 4 years ago when moving, now it is, and people made the mistake years ago, without knowing the consequences. That, I think is possibly unfair.

If people knew that taking out credit would impact their ability to get a house (even to rent!!) some would think twice - so I think really this is what needs to be address - a public health warning if you like - if you don't keep up payments on your credit card it could impact where you live and your ability to get a mortgage and another rental contract.

That, I would like to see a campaign on.

cniac200

Hi James,

I was hoping you could provide an update on this matter.

I've been told by a letting agent that a company called MARAS will run a credit check on me to determine whether my tenancy application will be accepted. Are you familiar with this company?

I have a number of defaults on my file from 3+ yrs ago. Will MARAS be able to see these and fail my application or can they only see public info like CCJs, which I have none of.

Employer and previous landlord references shouldn't be a problem.

Your help would be greatly appreciated.

Thanks

CreditCrunchie

I agree with you 100% and feel that all these shady CRA's should be outlawed. They provide horribly outdated information at best, and libellously dangerous misinformation at worst. If they were strictly regulated and held accountable for the mistakes they make then I could see it being a useful service. But as it currently stands they exist soley as a commercial venture to make money, and should be stripped of the monopoly of power they currently hold.

If it helps though, you should be fine getting a rental tenancy so long as there is nothing horribly drastic on your files. Like mobile phones and utilities I believe agents obtain a less thorough report than credit cards and mortgages etc.

nottoolate

if they dont share credit account defaults they cant see credit account defaults. full stop.

scrimper88

Iv always been told basically as long as you have no ccjs or ever been bankrupt youl be fine. When we got our current house I was on an arrangement with barclaycard and also had several other arrangements in place.
They also took bank statements which showed payments to several pdl companies and they weren't bothered. At the end of the day of you don't pay your rent you get evicted simples.

MrSilk

It's current CCJ's and current BR's that show up.

I'm an estate agent

cniac200

Thanks guys you've helped put my mind at rest.