Why would you do a credit rating on parent?

Woolington

Hi all,

Why might a family member have taken a credit rating out on our aged fully compos mentis parent? he had no knowledge of it having been ordered - is it really this easy? is it legal?

What are the reasons it might be done? sinister and otherwise!

[Deleted User]

What do you mean by 'do a credit rating'?

Do you mean access their credit report?

If so, it would suggest they want to know what credit they have. Perhaps they're trying to estimate their inheritance.

Willing2Learn

Woolington wrote: »

Hi all,

Why might a family member have taken a credit rating out on our aged fully compos mentis parent? he had no knowledge of it having been ordered - is it really this easy? is it legal?

What are the reasons it might be done? sinister and otherwise!

I am unsure exactly what you are saying. Is it that a family member has accessed a credit report from one of the three CRAs on behalf of an elderly relative?

Woolington

Sorry! the family member ordered an Equifax credit report without the parent's knowledge which came as a letter.

I didn't know what it was at the time, so didn't pay particular attention. What do they show? Is it a legitimate thing to do? It seems very intrusive! I'd be hopping mad if my children did that to me!

BoGoF

They must have pretended to be the parent then. No way would they send it to a 3rd party and if the request was done online you would need an intimate knowledge of the persons financial affairs.

[Deleted User]

No, they shouldn't have done - at least not without permission.

It will show their credit history for the last 6 years, financial associates, ER registration and other bits and pieces.

Woolington

It will show their credit history for the last 6 years, financial associates, ER registration and other bits and pieces.

thank you! so it can only look into the banks etc you specify - you don't just press a button and every bank etc comes up? having ordered one, can it be altered?

[Deleted User]

All the lenders that appear on that credit report will show up.

Users can't make changes to their own credit reports. It's held by the CRA in question.

Woolington

All the lenders that appear on that credit report will show up.

if an account had been closed would that still show up?

Would Equifax keep a record of each credit rating application made? I seem to recall two - could I prove that?

[Deleted User]

Closed accounts within the last 6 years and recent searches will show.

Can you prove what?

Woolington

All the lenders that appear on that credit report will show up.

a penny is dropping! so it wouldn't include savings, just organisations he's lent money from? so credit arrangements? (sorry that's a really dummy realisation!) I'm not aware he had any, he was very solvent, yet there were at least three entries. Are there common or garden 'lenders' that I might not be considering?