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Credit Report Options

There are many important reasons to want to access your credit report. The information that credit reference agencies hold about you is vital in terms of future access to affordable credit.

Below we present both online and offline sources of credit reports, access to free and inexpensive reports, and a set of useful guides on issues related to credit ratings and Scottish trust deeds.

Online Credit Report Options

Online access to credit reporting can be the most convenient option. You can access up-to-date reporting whenever you wish, so that you can monitor your progress.

Remember that each credit reference agency may store different information about you. This is important because different lenders employ different agencies when assessing your credit applications. You may therefore want to check your details with more than one of them:

Noddle: This service is free. It’s currently used by two million people around the UK. I (your author) use it personally and have found it to be perfectly straightforward and useful. The service is provided by Callcredit, a well-known credit reference agency.

CreditExpert: There’s a free trial of this service for one month, but afterwards there’s a pricey £14.99 monthly charge. The service is provided by Experian, the UK’s largest credit reference agency. Previous studies have suggested that Experian often provides the most accurate and current data.

Clearscore: A relatively new service that we haven’t yet personally tested. This service is offered for free in the hope of selling credit products to you in the future. It utilises Equifax data, a firm that is the final one of the UK’s three largest credit reference agencies.

£2 Statutory Credit Reports

The major credit reference agencies are also required to send you “statutory credit reports” in return for a modest £2 payment. This may be useful if you don’t possess a debit card – most of the online services require a debit card in order to be able to verify your identity.

The main disadvantage of these statutory reports is that you may need to repeatedly order them to assess whether you’re making much progress. The following links will give you access to the statutory reports provided by each of the main UK credit reference agencies:

Some Useful Guides About Credit Ratings After Trust Deeds

Getting hold of your credit report is the first step. Knowing what to do about the information that you receive is the next challenge. The following articles have all been written to help answer common questions about your credit rating after being discharged from a trust deed.

Default Notices – We explain what default notices are, when they should be issued, when they’ll disappear from your credit file, and what you can do about dating errors on your report.

Entries on Your Credit Report – We explain what can be added to your credit report while you’re in a protected trust deed. Comment is made about the long-term consequences of continued default reporting prior to your discharge.

Credit Report Accuracy – We explain what you can do about inaccurate information being held on your credit report. Many people need to address inaccuracies following their discharge.  

Creditors Refusing to Update Your File – We explain the obligations of lenders that are refusing to update your credit file because, even though you’ve been discharged, your trustee hasn’t paid them yet. The Data Protection Act is generally on your side in respect of this issue.

Getting A Mortgage – Being honest, it’s really tough to get a mortgage soon after your trust deed has finished. Take the right steps however and buying a home may well become possible in the future.

Renting A House – Can you rent a house with a poor credit rating? Yes – if you go about this process the right way many landlords will be happy to accept you as a tenant. Being in a trust deed or having a bad credit history doesn’t disqualify you from renting a property.

Got A Question?

Visit our forum!

Questions about credit ratings are one of the most common subjects being discussed there. Read what other people are saying, or register as a member to ask your own questions. 

Wylie & Bisset Grant Thornton

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