Understanding Credit File - Experian

rebm11

Hi I was wondering who to talk to about trying to understand my credit file.

It gets abit complicated.

On the front page it states that I have 22 accounts (including ones settled) 0 credit available, 0% credit used, amount of outstanding debt - £34, 0 accounts over due and 0 number of missed repayments in the last year.

1. I have more then £34 outstanding debt more like £4850 (added up from Experian)
2. I have numerous missed payments not 0?
3. Some of the credit I do have I.e. HP that u pay every month for the last 3 years isn't on there (would bring my credit back up)
4. I have signed Electoral twice for where I currently live yet it's showing me being currently registered at my previous address which is my parents.

Just wondering of anyone can help me understand this a bit more. Thanks

CreditCrunchie

When it comes to the electoral roll I've found the council is slow, then the cra's are slow, so it can take up to 6 months to actually see yourself on there!

In regards to the accounts not showing up I believe it's because certain companies only use one cra and only report to them, hence one may have your mobile phone contract account while the others don't.

It's worth getting your reports from all 3 agencies. In the past (when they feel like it) some of them have updated things for me when I've reported things.

fuzzgun19

CreditCrunchie wrote: »

When it comes to the electoral roll I've found the council is slow, then the cra's are slow, so it can take up to 6 months to actually see yourself on there!

I really hope this is not true!

I'd like to apply for a CC asap when the council updates my electrol details this month. I'm trying to improve my credit file and can't wait 6 months!

rebm11

fuzzgun19 wrote: »

I really hope this is not true!

I have signed two Electoral forms in the two years since being here and I Have not seen them updated on my credit profiles!!!

What's a CC?

fuzzgun19

rebm11 wrote: »

I have signed two Electoral forms in the two years since being here and I Have not seen them updated on my credit profiles!!!

What's a CC?

Credit card.

Maybe you should get a letter from your council, and email it to the CRA's as proof and ask them to update.

CreditCrunchie

Nope confirmation letter doesn't help, at least not in my case. The first time I could say perhaps it was a mistake, but as I'm now going through exactly the same thing again at a new house (not new really as been here a year!) and on about the 10th email!!

rebm11

Who is it that's not updating them? The council or the CRA?

CreditCrunchie

In my case the council took 4 months, and now Experian are refusing to update until April even though they have a confirmation letter. Last time this happened it took the council 2 months and the CRA's about 6, again with repeated emails/ letters/ phonecalls letting them know I had confirmation. Perhaps I've just had bad luck...

Having said that equifax have been quick to update my file after a late payment marker was removed and I let them know about it via their online submit a question form, so you could try that for your other issues.

Experian_company_representative

CreditCrunchie wrote: »

In my case the council took 4 months, and now Experian are refusing to update until April even though they have a confirmation letter. Last time this happened it took the council 2 months and the CRA's about 6, again with repeated emails/ letters/ phonecalls letting them know I had confirmation. Perhaps I've just had bad luck...

Having said that equifax have been quick to update my file after a late payment marker was removed and I let them know about it via their online submit a question form, so you could try that for your other issues.

Hi Creditcrunchie, just to clarify in regard to updating the electoral roll on your Experian report.

If you registered after 18th October in England and 18th November in Scotland and Wales, this information will be included in the Annual Canvass. This will be updated once the records are published by the relevant local authority and will be complete by 1st April 2014.

We do update the Annual Canvas information as quickly as possible, but due to the amount of information involved it can take a few weeks.

When the Annual Canvas is not being compiled then Local Authorities have a “Rolling Register” which is updated monthly, we up-date these as we receive them.

Regards
Neil

CreditCrunchie

I registered in April 2013.

It beggars belief that when the ER is so important to any credit appication, the councils and cra's can take so long to add this information to records. It is literally crippling in terms of credit. As soon as information is received it should be updated immediately, no ifs buts or maybes. How it's gone on so long like this is just unbelievable!

Thrugelmir

CreditCrunchie wrote: »

It beggars belief that when the ER is so important to any credit appication,

If a borrower maintains annual registration on the electoral roll (6 years) then a current period should not be an issue.

Many people trip up as they don't bother registering until they wish to borrow for a mortgage. So too late in the day.