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credit report file - advice wanted


Diamond301
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I have requested credit reports from Experian and Equifax, both of which i have received and checked through. i have a couple of questions in relation to these reports:

 

defaults and accounts over 6years old (settled) - do these automatically "fall off" or do i need to contact the CRA's?

 

Length of time at address - this is wrong on both files, do i need to contact the CRA's and advise them of this?

 

Loan - i have a loan with citifinancial and on the CRA's it is showing as a joint account when it isn't, the account is only in my name?? why would this be and again do i need to contact the CRA's and ask them to amend this or do i need to contact Citi?

 

Thank you

 

Diamond

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hi diamond. what i did with experian is the same with your problem. i sent experian a e/mail regarding defaults over 6 years and items on my report had not been up-dated got a nice e/mail off them in-return. which stated experian will look into it for me noticed experian have put a note on my file. here is what experian said. on return of e/mail by them.

Thank you for your query received on 30 March 2007.

 

In view of your comments about bank,loan company and , (taken names out) I am writing to them for you. This is because I cannot amend your report without their consent. I will let you know what they say as soon as they reply.

 

While I investigate your comments, I am adding the following statement to the entries you have queried.

 

"THE ACCURACY OF THIS DATA HAS BEEN DISPUTED BY THE INDIVIDUAL CONCERNED AND WE HAVE NOW CONTACTED THE SUBSCRIBER. CARE SHOULD THEREFORE BE TAKEN WHEN USING THIS ITEM OF DATA TO ASSESS THE CREDITWORTHINESS OF THE INDIVIDUAL CONCERNED."

 

Your report will change in the next seven days. Please use this letter if you need proof in the meantime.

 

I am telling all the companies that have searched your credit report in the last six months of the change to your information.

 

I note your comments regarding( loan company) and would advise that we keep settled accounts on your credit report for six years from the date of settlement. Therefore this account will be removed on +++++.

 

I note that you wish to find out more about( loan company) and would advise that their contact details are as follows:

 

(name & address removed for security reasons)

 

I also note your comments regarding your credit score and would advise that lenders will take into consideration how your accounts have been conducted in the past and you will be scored positively for maintaining a healthy payment history. However, lenders wish to lend responsibly and so will take into consideration the level of your existing financial commitments. Lenders will also wish to easily verify you at your present address. Therefore, there are factors that may cause your score to be low even if you have maintained up to date payment histories in the past.

 

These factors include:

 

- Significant recent credit activity

If you have recently made more than one application for credit and/or have opened several credit accounts, lenders can be worried that you may be over-committed. This will lead to a reduction in your score. To improve your score you could reduce the number of credit applications you make in the next few months.

 

- Significant number of open credit accounts

Again, due to the fact that lenders wish to guard against over-commitment, if you have a number of active credit accounts this can reduce your score. In order to improve your score you may wish to close any accounts that you no longer use.

 

You could lose a significant number of points for several searches (usually two or more) or having a lot of existing available credit even if all such agreements are always paid on time.

 

I would advise that your defaulted accounts will have a significant impact on your credit score.

 

Yours sincerel

CreditExpert

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