Credit Scores of What Value Are They?

[sonia_cambridge]

Can anyone tell me where I can get my credit score checked?

[BRIGADIER2JCS]

Just google Credit expert (Experian) Equifax or Call Credit` you can get a 30day free remember

that the ''score'' is not seen by lenders.

[The Debt Star]

agreed.

[Hazzinho]

Sillygirl your report is not affected by searching your own file. also only credit applications affect your score and your file.

[BRIGADIER2JCS]

No searches by DCA's placed under the heading debt collection/outstanding debt will

affect badly as do Gain entries CFAS and public information eg CCJ's.

The actual credit score is not seen by others and is there to give the individual

an idea of their credit status, I think you may be barking up the wrong tree in the way you posted that comment

to a Cagger of Silly girls experience.

[The Debt Star]

your report is not affected by searching your own file. .

 

that bit's right though

[BRIGADIER2JCS]

That's all :madgrin:that was

[Hazzinho]

I was just talking about searches. yes i agree debt searches affect you badly.

[tomlittley]

Totally agree with all thats been said, I have a score of 870 (Fair) with Experian and 290 (Very poor) with Equifax, this score has dropped from 360 in the last 4 weeks and keeps dropping. I have not taken out anymore credit, not missed any payments, not defaulted on any loan and not applied for any credit. Work that one out, I'm baffled.

[BRIGADIER2JCS]

The whole premise of the personal ''credit score'' is undoubtedly flawed as they

are totally irrelevant to potential lenders.

[Cadbury1879]

Sillygirl is so right the DRA,s are making judgements and profiting from there activities. They need to be made accountable,especially as they are funded mostly by banks etc. There activities cause problems,with difficulty to reddress.

Cad

[BRIGADIER2JCS]

I started this thread to get reactions and opinions to add to that which I

have already passed on to my MP.

The reactions of all those who have responded encourages me to continue

and to dig deeper into the mire of deception and misleading information fed to us ''as our own data''

[Cadbury1879]

Indeed Brig, good your trying, Anoys me that a DRA can pass a judgement with no background info whatsover.

As an example my oh has. A CCJ & C/O

no job for a period of six months offered around 60% of the contractural payment,to no avail Northern Rock were in deep crisis then. 10 calls a day not intereasted in our problems.ccj c/o They bailed out by the goverment.

We 3 years later wanted to borrow on our property, to build an extension so our daughter could move in comfortably.

We have alot of equity,no go credit. score. Wrong!!

The creditors can file whatever, with a difficult job to rectify.

I don't wish to borrow money either, as per other posters, except exceptional cirmunstances, and with security , why should I be penalised by CRA,s. with little chance of changing there data.

Ranting

Cad

Cad

[BRIGADIER2JCS]

I started this thread to get reactions and opinions to add to that which I

have already passed on to my MP.

The reactions of all those who have responded encourages me to continue

and to dig deeper into the mire of deception and misleading information fed to us ''as our own data''

 

Hi Cad, the ''dreaded credit score on your report has sweet foxtrot oscar to do with anything a lender will decide I have proved now that lenders don't see it and use their own scoring system and only use the info I have specified together with an in house system all

of which vary wildly so bank A says yes finance co B says FO consistency ?????????????

[maroondevo52]

The last time I tried to check my credit score I sent a cheque for £2, it bounced !!!

[BRIGADIER2JCS]

That's your bl**dy score shot for eternity then:madgrin:

[Cadbury1879]

Hi Brig

I agree that the credit scoring system given to members of the public by DRAs is not relevent to lenders.

The information they hold is however, no matter how unfair the creditor was in there initial response to financial difficulties.

I agree that A bank may not agree,B bank may.

Happened with me, trouble is that that the intereast charged is significant.

The whole system needs reform.

Especially this profiteering online credit expert etc.

 

Cad

[BRIGADIER2JCS]

Agreed CAD, I also have little time for those who claim that

they have a default ''ruining'' their credit file, when also admitting they

had not kept to the terms and conditions of the loan or credit card.

I can fully understand when sometimes tragic circumstances, redundancy

and the like cause problems, but all of us have been guilty at times of burying

our heads in the sand and hoping things will go away,debt it's self is not

I believe a tragedy ignoring can be with resultant consequences.

[The Debt Star]

Agreed CAD, I also have little time for those who claim that

they have a default ''ruining'' their credit file, when also admitting they

had not kept to the terms and conditions of the loan or credit card.

I can fully understand when sometimes tragic circumstances, redundancy

and the like cause problems, but all of us have been guilty at times of burying

our heads in the sand and hoping things will go away,debt it's self is not

I believe a tragedy ignoring can be with resultant consequences.

 

bullhooks, they all got along quite nicely BEFORE the CRAs even existed. and, moreoverm 6 years is too long. should be 3 years as in Europe. 6 years is draconian since, as you rightly acknowledge, people get into trouble for a range of reasons - cancer, illness, death in the family, redundancy, learning curve, whatever it is the industry should be more sympathetic to individual circumstances and, regardless, there should be legislation fixing theterms of deafults to 3 years max.

[BRIGADIER2JCS]

Hi DS,

The whole idea of this thread is to provoke comment and debate, as I said I'm attempting to put together.

a portfolio submission to my MP, The Dept of Business & Skills and The Under Sec. of State for Welfare Reform (responsible for the use of DCA's by the DWP)

the productive comment and examples of the problems seen will form the basis of the submission.

[The Debt Star]

well you'll get debate on the CRAs, credit scoring and defaults from me.

ask your MP to put a bill forward reducing the time frame from 6 years to 3, to bring us in line with the rest of Europe. heck, if they brought ti down to 5 years it would bring us lin line with another part of the UK.

as far as credit scoring goes, the CRAs offer is just a swindle, a way of getting £5.95 from people.

Now I for one, rightly or wrongly, pay Experian £3.99per month for my credit report (was £7.99 but if you call up and cancel it they'll offer you a reduction). I do so because I ant to see who's searching and if there are ever any CIFAs etc, more of an i.d. checking service for me.

right, but what the CRAs also flog on is the credit score for "only" £6 extra. What a con. as you have identified, they are all over the shop anyway and lenders don't see those scores regardless, only we do.

in my case a good experian score -vs- dreadful on equifax. well, I know whaich is the more accurate (equifax) so it tells me that experian are trying to rake in more fees with their scoring.

[BRIGADIER2JCS]

Thanks DS do I have your permission to quote your posts using your your user name as ID?

[The Debt Star]

anything that helps mate. strong depth of feeling here.

[BRIGADIER2JCS]

Great thanks DS, I shall probably look to you for more comments a this progresses.

I estimate 3-4 moths gathering and the same for writing it up.

[sequenci]

I have had a bit of an idea.

 

Can anyone point me in the direction of the EU legislation that states that credit referencing stays on file for three years?