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Credit Reference Agencies

Discussion in 'General Discussion' started by Snash, 27 Feb 2006.

  1. Snash


    Joined: 18 Oct 2002

    Posts: 4,062

    Location: In the air with the balls

    Anyone any idea how you would submit data to the likes of Experian and other Credit Reference Agencies?

    I know that they carry loads of information about payment habits of us as individuals and of companies, but how do join in to submit information on someone who hasn't paid your bill?

    We do a lot of work in the £100 to £200 range and non payers very often pay very late (sometimes taking six months to pay) in the knowledge that we'll not want to proceed with legals unless it gets really bad. I was thinking that the threat of being blacklisted might make the mpat up quicker?
  2. Scottland


    Joined: 18 Oct 2002

    Posts: 15,391

    Location: North Wales

    What sort of payments are they? I was under the impression that they would have to have signed a financal agreement (with payment dates and schedules) to be able to "blacklist" them.

    You also may have to be part of some sort of financial authority, like the FSA?
  3. Rotty


    Joined: 18 Oct 2002

    Posts: 41,011

    Location: Notts

    yep , think you need to be a licenced credit provider ( by the FSA ) and the debt to be subject to a credit agreement
  4. starscream


    Joined: 8 Mar 2003

    Posts: 4,055

    Location: Looking at the internet

    Unless they consented in writing to you providing CRA's with information about the conduct of their account, you can't do it I'm afraid. Going forward, they will need to sign a credit agreement on the opening of an account. You will also need to be a FSA licensed credit provider as mentioned above.
  5. The_TailGunner

    Wise Guy

    Joined: 17 Oct 2003

    Posts: 1,894

    Location: Dublin

    go look at creditexpert (google it)- they are experian's online service- £4.99 a month and you can look at your credit report and get a credit score done on yourself whenever you like.

    signed up for myself recently, and using the info i have managed to significantly improve my credit score because i could see what things were adversely affecting it (an old ccj that has been paid for ages, but was still not showing as satisfied, not being on the electoral roll, and a credit card payment showing as missed that hadnt been...)

    very useful service imo - they may be able to do a similar thing for you form your side of things....

  6. Snash


    Joined: 18 Oct 2002

    Posts: 4,062

    Location: In the air with the balls

    Thanks for your help guys, look slike it's a non starter for us :(