Is anyone else having problems with Credit Reference agencies?

ohdannyboy27

Is anyone else having difficulties with getting incorrect and out of date information removed from your Credit Reference file?

They are ALL of them self service BA**ARDS and I have referred them to the Financial Ombudsman.

What can I do best?

I feel like starting a National Campaign to have them regulated more closely.

Who currently are they regulated by?

Any thoughts and guidance most welcome.

Regards

Daniel 

FindMyWayBack

Do you mean the real ones, or the fake out of date free money making ones?

[Deleted User]

CRA's report information provided by financial services/companies/lenders/etc.
The lag in providing updates therefore shows on a credit history.

astroL

After paying a lump sum off a loan, leaving a nominal amount left, I saw my next MSE credit score drop.  It didn't bother me but I investigated further.  I discovered that the rating was delivered by Transunion.  I checked out their 'calculation', methods and discovered three significant errors. They showed my utility account as zero (seriously wrong), my bank account as zero (seriously wrong) and a loan as zero (?) seriously wrong.  I questioned them about these errors.  It was clear from their reply that they could not give a damn.

MorningcoffeeIV

The MSE score comes from Experian, not Transunion.

The score drop is because you paid off debt. Makes you lower risk to lenders, higher risk to the CRAs. Fortunately, you only need to concern yourself with one of those groups.

Your bank account should always show as zero unless you're in an OD. Utility account will often be zero if you're up to date.  The loan is only wrong that may be remotely 'seriously wrong'.