Incomplete Credit File

Richbutpoor

Hi,

I have obtained copies of my credit report from each of Experian, Equifax and Noddle.

I went through a phase of 3 or 4 months in late 2010 using pay day loan companies (Wonga, quickquid etc). I got out of the rut and have not used them since. There doesn't appear to be any trace of these on any of the credit reports (no settled accounts, no credit searches etc). How could this be? Would there be additional data not on the reports that potential lenders would see?

Furthermore, on my Experian report it states that I have £0 'available credit' despite having a £2,000 o/d facility (unused since late 2010) on my current account. Why is this? Would it be preferable if my report showed £2,000 available but unused credit or not?

One final query is that I have a 3 year old small settled (£60 CCJ) which I disputed through the court due to informing the creditor of my change of address but them claiming that I didn't. There was no way I could prove that I informed them of my change of address (even though I did). If I was to add a "Notice of Correction" to explain it would this (a) potentially help when applying for a mortgage, (b) have no impact or (c) adversely affect my report in anyway? If (a) or (b) then I will add a short note (nothing to lose).

Sorry for the long message.

Thanks for your help.

Tixy

Hi

Not sure why there is no trace of the pdls, but at least that is a good thing. Were these taken out at the same address as you live at now? If not does that address appear on your report at all?

Any potential new lenders won't see any additional credit accounts that you can't see.

On experian - does your current account show on that file? and does is show that there is an o/d facility?

The CCJ - presumably you didn't pay it off within a month of the CCJ being given?
When you say you disputed it through the court, do you mean you tried a set aside claim after the CCJ had been granted? and that failed?

Regarding a notice of correction - my guess is b, but could possibly be a. No reason it should adversley affect your report (assuming you remember to delete the notice once the CCJ has dropped off your file).

If you are thinking of applying for a mortgage at some point then I would look to start building up a credit profile again now. Is the o/d the only credit you have? maybe consider a subprime credit card used each month and repaid in ful each statement.

Richbutpoor

Thanks for your reply.

I just wrote a fairly detailed response but lost it!

1. Pay Day Loans

Yes, these were at my current address, which is correct on all three reports. Reassuring that potential lenders can't see any other information not on the reports, but very strange that these don't show up.

2. O/D

Basically, My Experian report shows 4 Credit Accounts (1 active, 3 Settled).

The active one is THREE phone contract (10 months old, no late payments).

The other settled accounts are ORANGE, BRITISH GAS (gas), BRITISH GAS (elec). One late payment in 2010 for British gas (settled following month), No other late payments.


It appears that there is no mention of the O/D. However, the O/D appears on my Noddle report with detail of the historic monthly balance (£nil for last 3 years, heavily used prior to that).

Should I try and get the O/D added to my Experian report? Would this help me credit worthiness. However, could this possibly somehow bring up the payday loans etc as it was from this account (not sure if linked like that?).

3. CCJ

Yes, claimed for set-aside but remains on my file.



Have I got enough credit history with the phone contracts and British Gas? What about if my O/D also showed up? Would the fact that I was constantly deep into my O/D in 2010/2011 have an impact or would the fact that I have not touched it in 3 years supersede this?

Thanks

Experian_company_representative

Some additional information for you:

1) not all PDL providers share data and fewer did in 2010
2) we don't include O/Ds in our revolving credit calculations (eg available credit) but it's possible some lenders might.
3) NOC might help - it would certainly be seen by lenders and would disappear when the CCJ goes.

James

Tixy

A potential mortgage company will most likely search all 3 agencies anyway, so some accounts being on one file and not others shouldn't be an issue.
You cannot usually change who your existing lenders choose to report to.

Your conduct/behaviour/account usage over the last few years will be more important to a potential lender than the older stuff.
I wouldn't start using the overdraft if you don't need it.

How soon were you hoping to apply for a mortgage?