Moneysavingexpert.com/ Your Credit Rating discussion area

loubie_lou

Hi was wondering if anyone could answer my question regarding the electoral roll and credit reports.

Ever since I left home 5 and a bit years ago I've registered myself on the electoral roll with every place i've lived at (which is 4 - being a student and all!! This includes home as well).

Should you stay registered at every place or once you have moved should you contact the relevant council and ask them to take yourself off? Does it affect your credit rating at all if you are registered at more than one address?I'm still registered at home too even tho i moved out years ago......!

Thanks
LL

The_Boss

First of all, in answer to Loubie Lou, I think you should only be on the roll at your current address. It will affect your credit score if you are not on the electoral roll at the address you are applying at. For example, if you are applying for stuff via your old address (e.g. parents address) then it should be ok. If you apply from your current address, then it will not be as good.

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Now I have a question - do Equifax and Experian both use the same methods for calculating a credit score?

My credit score with Experian is 'poor', almost 'very poor'. My score with Equifax is upper 'good'. The only difference between the two is the number of searches in the past year (9 on Experian, 4 on Equifax). The account details shown on both are identical. But recently, when a search came off my Experian record, the score didnt increase so I'm a bit confused at whats going on. I have 5 years of records showing I have never missed a payment on a car loan, mobile bills and credit cards yet I'm given the score of a habitual bad payer or someone with CCJs!

bobster_9

I applied for my credit score with Equifax and there are 2 defaults listed from NTL. I have had a long running dispute with NTL over the bill, as they have not sent me details of why I owe it in 6 years of asking.

I disputed the defaults with Equifax who told me they cannot remove the information without NTL's written instruction and gave me the address of NTL to write to.

I wrote to NTL requesting that they either remove the defaults or send me a written breakdown of the bill, but true to form they have not acknowledged my letter.

I would be grateful if anyone had any suggestions on how I get this information off my record ? I am quite happy to go down the legal route and sue NTL if necessary

martin71

New poster here ladies and gents - saved myself a fortune already this week.

I was looking for an answer to a question that someone else seems to have asked a while back, but afaics no-one anwered:

I'm aware that it may look bad on your file if you have "too many" searches in "too short" a space of time.

Does anyone (perhaps someone with industry knowledge) know roughly how many applications, in how short a space of time, we are talking, in order to cause a problem?

I'm aware that there will be no hard and fast answer to this, but a rough guesstimate from someone who knows would be really helpful.

Thanks all
Martin
(no, not Martin Lewis - I'm sure he has a rough idea of the answer already!)

The_Boss

martin71 wrote:

New poster here ladies and gents - saved myself a fortune already this week.

I was looking for an answer to a question that someone else seems to have asked a while back, but afaics no-one anwered:

I'm aware that it may look bad on your file if you have "too many" searches in "too short" a space of time.

Does anyone (perhaps someone with industry knowledge) know roughly how many applications, in how short a space of time, we are talking, in order to cause a problem?

I'm aware that there will be no hard and fast answer to this, but a rough guesstimate from someone who knows would be really helpful.

Thanks all
Martin
(no, not Martin Lewis - I'm sure he has a rough idea of the answer already!)

This is my own experience

9 searches in one year = poor credit score with Experian
4 searches in one year = good credit score with Equifax

All the account details are identical.

Recently a search came off my Experian record and the score didnt change (see my comments a few posts back). Then another just came off and my score has jumped by almost 200 points to 'Fair'.

So make of this what you will.

jenny_patton

If I applied for a loan with Northern rock who search Experian and I got declined will that search be recorded by exquifax? One of martin's articles said that you can get stuck in a loop where you could get refused again because the previous lender refused you. So my question is will a loan application from another lender who use Exquifax bring up the results of the failed northen rock sarch using Expeirian?

The_Boss

No it wont appear on Equifax.

Again, this is through experience. I had two Northern Rock mortgage searches done last year. This is part of the reason there were 9 recorded searches under Experian and only 4 under Equifax.

But be careful about applying to 'Equifax only' lenders in future. I applied to Sainsburys Bank for a loan. It says on here they use Equifax. I called and they said they use Equifax. But they only searched Experian.

Gringo22

Just tried the credit profile on moneysuparmarket.com. First time I said I had no overdraft and got a "Fair" rating, second time I said I did have one (I have a student overdraft that will get paid back) and my rating went up to "good". I'm very confused!

freeloader

I recently applied for an American Express Blue card (for the points!), and received a letter, "I am pleased to inform you etc...". I signed the form and sent it back (they didn't provide an envelope, so I phoned them for the FREEPOST address). Then I received another letter saying the final step was to sign the (same) form and return it in the prepaid envelope, which I did. Today I received a rejection letter, saying that following a credit check, I didn't meet their requirements, they wouldn't say why, although they assure me that my credit file contains no derogatory information. Is it because I've had no credit card for nearly 6 years? Or is it because I've got an overdraft, which I've exceeded by a few quid a couple of times, but which has been OK for a few months? I have always paid my mortgage on time, I have no other debt, and have several savings accounts. I'm going to write to each of the 3 credit reference agencies for a £2 report, and will post back here when/if I receive replies, but in the meantime, I would be grateful for anyone's thoughts on what's happening here.

The_Boss

kazzagrezza wrote:

Hello - I wonder if somebody can help me?
Over the past six months or so I have been getting letters from two debt recovery agencies saying I owe the same amount money but I don't owe any money to anybody and haven't done so for approx 8 years. However, I did owe Barclaycard around £1300 and moved house and never paid it which was very naughty I know. I would imagine that Barclaycard wrote the debt off and maybe sold it on to a recovery agency. I have not responded to any of these letters and will not do so but does anybody know if I am legally bound to pay these people. They have even suggested that they would accept 50% of the debt? My credit file say nothing about this!

1. Arent the first few lines of that a total contradiction? You dont owe anything to anyone but you owe Barclaycard £1300?

2. If the debt does in fact turn out to be from Barclaycard, then yes you do have to pay it. You could always call up the collection company and ask where this debt originates from.