Credit Reference Agency - Serious Hot Water

Cartnell

Hi all.

Before this happened I had no credit record at all.

I wanted to build a solid credit record for a mortgage application in 2020. I was contacted by a credit repair specialist firm who said I could have three accounts (credit card, mailing order and loan) reported to my file each month set to values I decide like credit limit, balance and my payment amounts etc.

I agreed to it and within 3 months I had all three accounts showing on all three credit files. These accounts never actually existed, I just told the credit firm what data to send about these 3 accounts monthly and they did it. I kept everything consistent like the credit limit but adjusted the balance to show it being cleared in full every month. The names of the lenders of these accounts were also made up chosen by the credit repair firm at random but because this is an ongoing case I'm unsure whether I am allowed to give specific names of anything.

Anyway I received a letter from an organization called the ICO with a CallCredit letterhead as well saying that my data is now subject to investigation for suspected manipulation of or false entry of credit information. And an agent at CallCredit said it is because they believe my credit file has been artificially modified and entries submitted against regulatory requirements. They said while it is being looked into any searches of my credit file will come back as refused to prevent lenders receiving the affected information.

I phoned the credit repair firm and they said this can happen and that they will provide me documentation to support the three accounts if they ask for them. These accounts don't exist and all the data on them were made up each month by me, so any documents they give me will also be fake.

I'm really worried about this and a close family friend has advised me this is illegal and I could be arrested for it. I want to know if this has happened before and if anyone here has any experience or advice about what might happen?

It is too late to go back now but I didn't really know it was illegal at the time. I just thought it was harmless cheating.

eDicky

Have you applied for any genuine credit products, approval of which would be based on the manipulated credit history?

Cartnell wrote: »

I wanted to build a solid credit record for a mortgage application in 2020. I was contacted by a credit repair specialist firm.... I just thought it was harmless cheating.

You write as somebody who is well educated, can you tell us any more about your attraction to this method in preference to a couple of years' effective and genuine credit history building? Plus the method of contact by this firm, etc?

(There's also a 'Credit File and Ratings' board)

BoGoF

Harmless cheating? Really?

Expect a fraud marker and possibly kiss goodbye to that mortgage.

Best thing you can do is admit what you have done. No doubt you have paid this 'credit repair firm' to conduct fraud on your behalf?

Westminster

Oh dear - this sounds like it could end up being a hugely disruptive error in judgment by the OP.

[Deleted User]

It is illegal. 100%.

You!!!8217;ll have to have the consequences now

jimbo26

Prepare yourself for a whole world of grief.

m-holland

Could OP also expect to face an investigation from both Experian and Equifax soon as well?

sparkey1

Is this actually possible. You cant just report information to the credit reference agencies. Organisations have to be properly constituted and have contracts in place with the CRAs to supply the data.

agrinnall

If the ICO is involved then you may indeed be in very hot water as I believe they have the option to raise criminal proceedings if they feel it's appropriate. Whether this would fall into one of their enforcement categories I don't know but even if it doesn't I can't see it ending well, and your plans for 2020 may have to be postponed.


https://ico.org.uk/about-the-ico/jobs/departments/enforcement/

eskbanker

agrinnall wrote: »

your plans for 2020 may have to be postponed

OP may not be in need of a mortgage anyway if accommodation is being provided care of Her Majesty....

Chino

agrinnall wrote: »

If the ICO is involved then you may indeed be in very hot water

I think it much more likely for the CRA to be in "hot water" with the ICO because the CRA evidently did nothing to verify the reliability of the supplier of the personal data it was processing in respect of the OP.