Yorkshire water on credit report

Gavin78

Just noticed YW on my credit report, no big deal I read they were going to start doing this, but stupid really as you need water to live it is part of everyday living.

My wife pays the water and they asked if I wanted to be added to the bill so she said ok. but I'm a little annoyed should she miss a payment that it effects my report?

Doesn't seem right to me.

Cardew

Gavin78 wrote: »

Just noticed YW on my credit report, no big deal I read they were going to start doing this, but stupid really as you need water to live it is part of everyday living.

My wife pays the water and they asked if I wanted to be added to the bill so she said ok. but I'm a little annoyed should she miss a payment that it effects my report?

Doesn't seem right to me.

Not sure of the point you are making about it being 'stupid'.

Why should essential services like water be exempt? It seems that you are implying that to default on an essential service should not have any affect on your credit record.

Gavin78

the idea of a credit check is usually to obtain credit. Having a £500 water bill added to my credit report has just knocked it down by 80 points going from good rating to average rating there is no advantage to having it there.

Only thing it did was damage my report and the same will happen every year when they add the full amount onto my report. I know they want to add power companies onto it as well as a sure way to make sure people always pay or get your credit report damaged.

This will effect loads of people who is not going to pay? you need these to live they are an essential part of life most companies wont take into account that you pay regular your utility bills when applying for credit because everyone will default on a CC payment rather than run out of gas or electric or water.

It will damage your report with yoyo bills that come in at different amounts which will effect your score.

Cardew

I think I understand what you are saying, but it appears you have explained exactly why water SHOULD be on the credit record.

From the water company and credit cards company's POV if you don't pay a bill it should adversely affect your credit record.

Isn't that the whole point of a credit record?

giraffe69

there is no advantage to having it there.

There is for the company.

kirkbyinfurnesslad_2

Gavin78 wrote: »

the idea of a credit check is usually to obtain credit. Having a £500 water bill added to my credit report has just knocked it down by 80 points going from good rating to average rating there is no advantage to having it there.

Only thing it did was damage my report and the same will happen every year when they add the full amount onto my report. I know they want to add power companies onto it as well as a sure way to make sure people always pay or get your credit report damaged.

This will effect loads of people who is not going to pay? you need these to live they are an essential part of life most companies wont take into account that you pay regular your utility bills when applying for credit because everyone will default on a CC payment rather than run out of gas or electric or water.

It will damage your report with yoyo bills that come in at different amounts which will effect your score.

Gavin the points you mention are a con, it is a made up number that is no use to anyone and means nothing

it is just a way of getting money out of people...

Credit card firms and banks dont take any notice of that number, they use their own score scards

macman

Any utility or service which you require credit for is going to potentially subject you to a credit search-why do you think the water utilities would be any different? They are private profit making companies, albeit heavily regulated.
What your credit history needs is evidence of credit being offered and credit being repaid on time. Having no credit history is almost as bad as having an adverse credit history.

kirkbyinfurnesslad_2

macman wrote: »

Any utility or service which you require credit for is going to potentially subject you to a credit search-why do you think the water utilities would be any different? They are private profit making companies, albeit heavily regulated.
What your credit history needs is evidence of credit being offered and credit being repaid on time. Having no credit history is almost as bad as having an adverse credit history.

Yes but even if you had the worst credit record ever, the water company cant do anything, it cant cut your supply or a pre payment meter....

Gavin78

kirkbyinfurnesslad wrote: »

Yes but even if you had the worst credit record ever, the water company cant do anything, it cant cut your supply or a pre payment meter....

Which brings me back to why do they actually need to be on a report you can get water, gas and electric without actually being on the electrol register which play a part in obtaining credit.

As for companies using their own scores I know they have their own things in place but they also credit score you or otherwise if you get turned down which I have in the passed they have given me a leaflet pointing to experian so it must play a part somewhere.

Looking at my experian report my bank right down to loans, credit cards and mobiles are all on my report

giraffe69

My wife pays the water

Don't you have joint responsibility for the bills even if you pay one and she pays another? If the water bill is not paid then quite right that you find it more difficult to get credit.

Yes but even if you had the worst credit record ever, the water company cant do anything, it cant cut your supply or a pre payment meter....

They may not be able to cut your water off but you may have to live with CCJs and a trashed credit report if you don't/won't pay.