How to Repair Your Credit Report

May 24, 2016 - 3 minutes read
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Check your credit report, people! You never know what these credit reference agencies may have incorrectly listed against your name or the various addresses where you’ve lived in the recent past. My credit report was so wrong that I couldn’t even borrow a fiver on credit less than a month ago. Here’s what I did to resolve the issues.

Low Credit Score? Fix Your Credit ReportI got a free 30-day trial with each of the three main credit reference agencies; Experian, Equifax, and Callcredit in the UK. Then I carefully checked all the details they had on me since each credit agency holds slightly different information.

It took me a total of six hours on the phone to remove just one incorrectly listed a default for £11, for example, and that wasn’t the only one, but it was well worth the effort for the positive effect it had on my credit score and ability to access more cost effective finance.

Then I had to prove that I am registered to vote at my home address because this is what lenders use to verify your identity, but for some reason, none of the credit reference agencies had me listed as registered to vote. Again, this kind of incorrect information can drastically affect your ability to get personal loans, bank accounts, credit cards, or even a decent mortgage rate.

I even found one old debt still listed on my credit report more than ten years later when all debts should be wiped clean after six years. Ever wondered why your loan repayment interest rates are sky high? Negative information of this sort on your credit report may be to blame for higher than average insurance quotes, credit card rates, and a whole lot more.

Once I had managed to repair my credit report and checked that everything on it is as it should be, I then decided to cancel the 30-day free trials, or they would start charging me monthly fees on my debit card for services that I could well do without.

If you’d like to keep an eye on your credit report for the future, try the free for life Noddle services that keep you up-to-date with information pulled from Callcredit, but also gives you great options to help you save money, too.

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