Different info on credit reports

marflar

Hi Guys, my question relates to a series of monthly successive payday loans i took out that have been cleared for 2 years this month

QUICK NOTE = I KNOW IT WAS STUPID SO SAVE LECTURES

Me and my partner are looking at buying a place so i signed up to noddle and eventually experian

Noddle has me at an average rating and shows those cleared pdl's

experian doesn't seem to show them and has me at an EXCELLENT rating - any reason anyone would know of for the difference?

Arleen

Not all lenders report with all CRAs can be one of them. You will be best to request just the statutory 2 GBP report from all the agencies as they will offer you more detail than the free online reports and proceed from there. For sure don't pay the monthly for experian or other of those paid report services. Although I am not sure that anything can be done for not-reported borrowings , if they don't share the loan with specific CRA then they don't.

Also keep in mind that the rating is meaningless and made up. It is just an indication at best, and harmful at worst. For any lender a string of PDL will be a very bright red flag, even more so if you hope for mortgage as those applications are highly scrutinised.
I wish you best with that, and from people say here getting a good broker can help a lot.

marflar

Cheers for the feedback Arleen

Just jumped on to equi fax to compare and they have no record of the payday loans either

Can't wrap my head around 2 of the big guns not having it recorded and Noddle having it there.....

Gaz83

It's down to each lender to choose which referencing agency to report to.

RedDwarf82

Are you using CreditExpert? They only show the information that matches the addresses you have configured in it.
So if the lender happens to report those loans in a previous address you used to live in but you have not added that address to your CreditExpert account, CreditExpert will not show the loan in your credit report even if Experian does know about it.
What's even worse, if the lender happens to report the loans in let's say

Flat 3
Nice House
110 Nice Street
N1 CE
London

and your CreditExpert account uses the slightly different format

3
Nice House
110 Nice Street
N1 CE
London

CreditExpert may still not show the loan.

So go to your CreditExpert account settings and add as many formats for you current and previous addresses as you can.

110 Nice Street
N1 CE
London

Nice House
N1 CE
London

3
Nice House
N1 CE
London

110
Nice House
N1 CE
London

Flat 3
Nice House
N1 CE
London

CreditExpert doesn't let you specify the address as free text, you put the post code and then have to select one of the options available. So there is a limited set of formats you can add. You may need to add 4-5 formats for each address.

Now, CreditExpert only updates the credit report once a day. So if you have already watched it today, even after adding the extra addresses/address formats, the credit report will not change. But if you look at it again tomorrow, you may find that the credit report now DOES report those loans.


Yes, Experian is incompetent and CreditExpert !!!!.