How Does One Recover From A CIFAS Note On Their Credit File?

dikibot

I admit I screwed up and so before I explain my problem, I'll thank you not to judge because I have already had an earful from my parents and my girlfriend is still not talking to me. Constructive feedback is what I require

Ok.., I am in a bit of a bind as I have been naughty and I now have a CIFAS note on my credit file.

I am starting a new job in 6 weeks and will be earning almost twice my current salary. While applying for a personal loan a week ago I used the employment and salary details of my new job because I felt it would improve my chances based on the higher salary. Besides the loan repayments start 3 months after it has been approved so I figured I'd already be in the job and saw it as a small white lie that wouldn't hurt anyone.

Unbeknowest to me the lenders have got a very unorthodox loan processing procedure. They did a Google search on my name and found a harvest of all my internet presence. Personal blogs, personal webpage, details from social networking sites etc. They noticed on one of the sites where I listed my employment history something different from what they've got and so I guess it prompted them to verify my employment. And they knew the details on there were mine because I had my pictures on some of the sites.

Obviously because I haven't started the new job the checks they made came back negative and they declined the application. I became a bit suspicious when they rang up and were asking me things I didn't state on my application form. And when I asked how they came by the info, the girl let it slip that they did a Google Search but tried to wave it away as a routine procedure. They of course declined the application.

I became suspicious and requested for my Credit File and was stunned to find a CIFAS note from the bank saying "(Application Fraud) Correct name and address used but with material falsehoods in personal details significant to application. The facility was refused"

I am concerned that this has permanently damaged my credit file. Does anyone know anything about these notes and how long they stay there or even if they can be removed at all?

Like I said earlier, I realise it was a silly thing to do but it hardly ranks in the same league as defrauding the bank of england or commiting high treason and I don't see why I should have my credit file forever tainted because of it.

It is obviously out of the question to ring them up and admit the deed and ask for a pardon as my mum suggested. A mate suggested that as I made the application over the phone I can deny making the application and blame someone else. That doesn't sound sensible to me as I had to send them copies of my passport and utility bill afterwards.

And please like I said earlier, save the judgements because I already am having lots of it at home. I am after some practical advise:A

Debt_Free_Chick

I doubt it will be removed, because it is, sadly, true. With the benefit of hindsight - and it won't help you now - it would have been far better if you had been open with them and told them about the new job and asked if they would score the application using that job.

I think you'll need to live with it. Or take Mum's advice.

Ignore the "friend's" advice as that will simply add another lie to the existing "falsehood".

Sorry, but I can't see a way around this. Anyone else?

YorkshireBoy

http://www.cifas.org.uk/default.asp?edit_id=568-82
See esp. FAQ 11.

dikibot

Well, I've checked the CIFAS website and found it stays on for at least a year but ultimately depends on the lender :-( I've however made a few enquiries and have been informed that while the note isn't a positive it will not always lead to an automatic rejection as every application is judged on information provided at the time. The CIFAS note may just prompt lenders to double check the info you provide and as long as they check out, you may be fine. I don't know if anyone thinks this is correct

Iamthesmartestmanalive

dikibot wrote: »

Well, I've checked the CIFAS website and found it stays on for at least a year but ultimately depends on the lender :-( I've however made a few enquiries and have been informed that while the note isn't a positive it will not always lead to an automatic rejection as every application is judged on information provided at the time. The CIFAS note may just prompt lenders to double check the info you provide and as long as they check out, you may be fine. I don't know if anyone thinks this is correct

Maybe in theory but a cifas note saying he lied means he is completely and utterly screwed

Zebedee69

I just hope your mum doesnt find out that the CIFAS is registered against the house. So your entire family will be subject to extra checks when applying for credit.

A CIFAS lasts for about a year after the date of the note being registered to protect the household its registered too. You should contact the lender after this to see if they can take it down.

Sorry mate I hate to say it but you have been a bit daft! I would put it down to hindsight though. You sound a youngish lad so just learn from the experience. Perhaps you should learn about credit ratings during the next year and learn how to build a good one.

Good credit is a powerfull long term force that you will miss if you muck it up. Ask anyone on the board who is bankrupt or has a CCJ if they would do it differently again. Im sure they will say yes!

Look after your rating! Its the only one you'll ever have!