How To Rectify Any Inaccuracies On Your Credit File

You have the right to access any of the data held about you by any of the Credit Reference Agencies (CRA). The request can either be made verbally or in writing, although CRAs usually have an online form that you fill in to request the data.

There are three different CRA, which are:

• Equifax Ltd;
• Experian Ltd; and
• TransUnion.

Whilst not ideal, it is usually a good idea to request your credit file from all three of the CRAs as there is no requirement for a lender to report to all Agencies. Therefore, if you are only obtaining data from the one you may not be given your full credit file.

How do I get incorrect information rectified on my credit file?

Under Article 16 of the UK GDPR, individuals have a right to have any inaccurate personal data or information rectified on their credit file.

To understand how to rectify an inaccurate credit file it is first important to understand how the data makes its way to the CRAs. In very basic terms, it is the lender who supplies the CRA with the information seen on any credit file. If the information provided is inaccurate, the CRA cannot amend this without first obtaining the permission of the lender, who supplied the data in the first place. Lenders do, however, have the power to make any changes to the information on a credit file. They, therefore, can make any urgent updates without needing to go to the CRA to request them.

In the first instance, it is a good idea to raise any concerns directly with the relevant CRA. They will be able to point you in the right direction and advise whether you need to go directly to the lender to request the change.

If you do notice any inaccuracies on your credit file, it is important to get these rectified quickly as they may affect your ability to secure a mortgage, credit, etc.