WHAT INFORMATION IS ON A CREDIT REPORT?
Equifax dispels some of the myths
London, 9th May 2007 – Is student loans data shared with Credit Reference Agencies? What about Fines held on the new Register of Judgments, Orders and Fines*? Consumers more than ever are confused by what information is shared with Credit Reference Agencies. Equifax, the instant online Credit information provider, is therefore highlighting what is included and what is not on a Credit report, so consumers understand what will impact on their Credit status.
Neil Munroe, External Affairs Director of Equifax comments, “So many consumers are confused with what data is shared with Credit Reference Agencies. However, it is vital consumers know, so they are aware of exactly what information will impact on their ability to obtain Credit, to rent a property, gain employment or obtain other financial services.”
| What is ON Your Credit Report | What is NOT on Your Credit Report |
| Electoral Roll Information This information is shown on a Credit report to verify a person’s name and address that they have provided on an application form. |
Credit Accounts Opened Pre-94 Currently this information is not shared by lenders to Credit Reference Agencies. However, it is currently under review by the government and a decision will be made in the near future as to whether to include this information. |
| Credit Account Information Credit Reference Agencies hold information from lenders about credit accounts. Accounts are classed as 'settled', 'active', 'defaulted', or 'delinquent'. The payment history shown on your file will relate to the period before you repaid your Credit. |
Savings Account A credit report does not include information about your savings accounts. |
| County Court Judgments or Decrees Court judgments or Decrees are held on your Credit report for six years from the date of the judgment. Credit Reference Agencies receive the information from Registry Trust. |
Fines Fines information will not appear on a credit report. |
| Searches This information is shown on your report, where a lender has performed a credit check. These are kept on your Credit report for 1 year. |
Student Loans This information is not currently supplied to credit reference agencies but there are ongoing discussions on whether this will be supplied in the future. |
| Shared Financial Commitments Only your own Credit history, and that of anyone you specifically share a financial responsibility with, such as a joint bank account, will be provided to a lender. |
Third Party Information Your credit file will not include financial information about members of your family who live, or have lived, with you, if you don’t share any joint financial commitments. |
| Current Account Current account information is now being loaded by lenders and all accounts should be loaded by the end of 2006. An overdraft balance is the only information you will see on your credit file. |
Child Support Agency This information will not appear on a Credit report. |
| Council of Mortgage Lenders This information will be on your Credit file if you have voluntarily given up your home or had it repossessed. |
Medical History This information is not included on your Credit report. |
| CIFAS Protective Register This information will only appear on your credit file if you have registered with the Protective Register. It aims to detect and prevent fraud, in order to protect innocent people whose names, addresses, or other details, are used fraudulently by others in order to get Credit. |
Criminal Records This information is not included on your Credit report. |
For further information or to obtain an instant copy of your credit report visit www.equifax.co.uk
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Notes to Editors
For further press information please contact: Claire Foster, Kate Clements or Wendy Harrison at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: claire@harrisonsadler.com
About Equifax
Equifax Inc. is a global leader in information technology that enables and secures global commerce with consumers and businesses. We are one of the largest sources of consumer and commercial data. Utilizing our databases, advanced analytics and proprietary enabling technology, we provide real-time answers for our customers. This innovative ability to transform information into intelligence is valued by customers across a wide range of industries and markets. Headquartered in Atlanta, Georgia, Equifax employs approximately 4,600 people in 13 countries throughout North America, Latin America and Europe. Equifax was founded 107 years ago, and today is a member of Standard & Poor’s (S&P) 500® Index. Our common stock is traded on the New York Stock Exchange under the symbol EFX. .
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