loans under my name but no record of them.

Herko

Hi Folks,
(Sorry if this is the wrong section, I thought it was some how relevant)
Really distressed about this,

I recently got into my credit report, started to take care of it all etc. Was very proud of my score at the age I was at, this was around last year 08/09/2015.

I went on holiday to Edinburgh for a few weeks around 08/09 also! before Edinburgh I applied for finance on some technology, and took out a phone.

getting to the point, i then stopped looking at my credit rating, I would look at it every 3-4 months or say just to make sure, although around jan/feb I wanted to check my score to see how my recent loans affected it then to find out a few, 3-4 loans in my name where on my credit rating under Shop Direct, I know this company supports vendors but I have not took out the amount nor any of the vendors associated with that company.

My score is at a all time low, not even able to get a finance agreement on some thing and now worried that I may not even get a phone contract. I would of paid these loans off just to get them off my report but these are in excess of £500.

I am gutted and in some sort of depression due to this. I contacted shopdirect and I feel like they don't care (Not getting back to me, always in a loop in the phone) signed up for experian and got a adviser to help, but he kept saying their was nothing he could do.

Any help on this subject would be appreciated, I am a apprentice so money is tight on what I am able to do.

Many thanks,
Sean

DCFC79

Herko wrote: »

Hi Folks,
(Sorry if this is the wrong section, I thought it was some how relevant)
Really distressed about this,

I recently got into my credit report, started to take care of it all etc. Was very proud of my score at the age I was at, this was around last year 08/09/2015.

I went on holiday to Edinburgh for a few weeks around 08/09 also! before Edinburgh I applied for finance on some technology, and took out a phone.

getting to the point, i then stopped looking at my credit rating, I would look at it every 3-4 months or say just to make sure, although around jan/feb I wanted to check my score to see how my recent loans affected it then to find out a few, 3-4 loans in my name where on my credit rating under Shop Direct, I know this company supports vendors but I have not took out the amount nor any of the vendors associated with that company.

My score is at a all time low, not even able to get a finance agreement on some thing and now worried that I may not even get a phone contract. I would of paid these loans off just to get them off my report but these are in excess of £500.

I am gutted and in some sort of depression due to this. I contacted shopdirect and I feel like they don't care (Not getting back to me, always in a loop in the phone) signed up for experian and got a adviser to help, but he kept saying their was nothing he could do.

Any help on this subject would be appreciated, I am a apprentice so money is tight on what I am able to do.

Many thanks,
Sean

Welcome to the forum, this is the right place to post your first post.

Just stop right there, your score albeit a low 1 is only seen by you and only you, no 1 else can see it.

Your an apprentice and taking out finance, you said yourself money is tight so save up.

You need to inform shop direct of what you found on your report and also inform Experian which you have done, well try again and explain that some entries are on your report incorrectly.

Whatever you do don't pay off any finance that isn't yours.

You say you applied for finance for some tech, who did you apply with ?

You mentioned a phone, was that on finance ?

PeacefulWaters

Getting depressed over a random made up number that no lender sees is a pretty pointless thing.

If there is incorrect information on the report write, recorded delivery, to both lender and CRA.

What information, specifically, is incorrect?

Pixie5740

1) The credit scores made up by the credit reference agencies are just marketing tools. No lender sees them never mind uses them. Each lender has its own criteria to determine whether or not to lend to you.

2) Whilst lenders do not use the score they do use your credit history to build up a pattern as to what kind of borrower you are i.e. do you regularly default on payments, do you pay on time, etc. So it is important that your credit file is accurate.

If there are entries on your credit file for loans which you have no knowledge or recollection of then you can raise a query with the credit reference agencies (so check all 3 agencies; Experian, Equifax, Call Credit). The credit reference agencies will then contact the lender and let you know what lender's response. If you are not happy with the lender's response then the credit reference agency can help you escalate the dispute to a third party arbitrator, such as the Information Commissioner’s Office. In other words this situation can be fixed.

If you are genuinely depressed go and see your GP.

Herko

thanks for the responses,

"You say you applied for finance for some tech, who did you apply with ?" - Paybreak Ltd, Very good company and I spoke with them alot, never had a problem, never a late payment. Paid it off and I applied again to get some of the tech upgraded just to get my score up and history on a positive. they rejected it knowing I have made all of my payments.

I have spoken with a charity today and they said to contact the police and my bank about these loans taken out in my name.

All of my valid accounts that I know I have are all in good terms with no outstanding balances. so after a certain month of last year, 6 new credit loans are out in my name all in debt and 2 are defaulted.

Although what evidence can I give to police and the bank? They used my name, DoB, and address. I will contact shop direct and make a complaint and speak with a manager to discuss it too.

Any other advice?

Sorry, wrong use of the word depressed. more like I am just depressed looking at my score, makes me angry + Sad just seeing it so low!

thanks

DCFC79

Herko wrote: »

Sorry, wrong use of the word depressed. more like I am just depressed looking at my score, makes me angry + Sad just seeing it so low!

thanks

But dont feel angry and sad over a score that only you can see.

Pixie5740

Stop looking at it then if it makes you feel sad and angry since no lender actually uses it. I hope you're not wasting money every month paying for an Experian subscription that would be a reason to feel sad.

ViolaLass

If you want to improve your credit history (not score), just get a credit card, buy your food on it and pay it off in full every month. This shows that you can pay your bills on time AND means paying no interest.

dresdendave

Herko wrote: »

Paid it off and I applied again to get some of the tech upgraded just to get my score up and history on a positive.

I am just depressed looking at my score, makes me angry + Sad just seeing it so low!

Just to reiterate what other respondents have pointed out, your score is completely meaningless. Stop obsessing over it and more importantly, don't take out credit for the sake of "improving" it.

dealer_wins

It is possible to go through life without using loans, credit cards or overdrafts. I have so far and at 47 now have no intention of changing that!

And I was from a very poor family that started work at 16!

ViolaLass

dealer_wins wrote: »

It is possible to go through life without using loans, credit cards or overdrafts. I have so far and at 47 now have no intention of changing that!

And I was from a very poor family that started work at 16!

It's paying interest that you want to avoid. Avoiding credit cards per se isn't necessary.