Get a free copy of your
credit record and credit score from Totallymoney or ClearScore - it's definitely worth signing up to one of these services and keeping an eye on it.
Any type of financial contract or debt will be reflected on your
credit record and as long as these are manageable and repaid on time, it will be good for your credit rating.
According to the National Credit Regulator in the quarter ending March 2012, 10,357 disputes were lodged in respect of the accuracy of the information recorded on consumer
credit records. More disputes were resolved in favour of complainants (7,722) as compared to disputes where
credit records remained unchanged (1,646).
With the recession, customers are finding it more and more difficult to apply successfully for new cards, with many card providers now saving their top deals only for those with the best
credit records.
And many people use credit because they are trying to establish a solid
credit record.
If you pay your bills on time, keep current on all outstanding accounts and never default on a loan or fail to make a mortgage payment, you might expect your
credit record would show you to be the very model of personal financial responsibility--someone to be welcomed with open arms by anyone with a product or service sell or rent to you.
First, the effects vary depending on the overall composition of the affected individual's
credit record. For example, a minor error in a
credit record is likely to have little or no effect on access to credit for an individual with many reported account histories, but the same error may have a significant effect on access to credit for someone with only a few reported account histories.
The ATG also recommends considering, when appropriate, the use of expedited resolution procedures, including advanced issue resolution, prefiling agreements and research
credit record retention agreements.
One of the the UK's largest mortgage and loan brokers, Compass Finance, has produced a Credit Repair Guide showing people how to improve their
credit record. Free copies on 0800 043 4623.
Nissan also agreed to limit its markup to 3 percent, a rate which had been left up to the dealer to decide after the lender determined the amount of the loan, based on
credit record, amount of the loan and the type of car purchased.
Third, she received a dunning notice from the lender--the finance arm of a famous German volume manufacturer--telling her that, if she got the payment to them within 10 days, her mistake wouldn't show up on her
credit record! Does this behavior make sense, or entice buyers to stay?
