/ Money

Credit reference agencies, why’s my credit report so out of date?

I’m angry at the failure of Equifax and Callcredit to update my credit report in good time. Now they’re at risk of damaging my reputation, my pride and my wallet. Are you frustrated with having to leap over credit hurdles?

I moved house in October 2011 and registered to vote immediately. I also transferred all of my bank and credit card accounts over to the new address. Full credit to the banks – the change of address went without a hitch.

In February this year, Harrow Council finally added me to the public electoral register, so I thought my credit file would once again look like normal. No such luck.

Leaping over the credit hurdles

As background research for a Which? Money magazine feature, on 10 February I accessed my credit reports online. Equifax and Callcredit say I’m not registered to vote.

In fact, Equifax went even further: initially its system couldn’t even find my address. It could find the flats on either side, but not mine. I emailed Equifax and it said the list is based on Royal Mail data. Luckily my postman has no such problems.

When Equifax added my address to its system and I finally got hold of my online credit file, I discovered that the company had no accounts associated with my current address, even though I had moved four months earlier.

Experian knew I was registered to vote at my new address, so why didn’t Equifax or Callcredit? Experian also knew that my bank account and credit cards had been transferred over to my new address. So why didn’t Equifax?

Things got worse. I paid for my one-off credit score with each agency and was shocked. Because of the missing data on my credit reports, my credit scores had been decimated.

Callcredit gave me a score of 566. And Equifax rated me as ‘poor’, with a score of just 366, as I have no credit accounts associated with my address. In complete contrast, Experian has all of my up-to-date data and tells me I have a credit score of 963. That’s excellent and roughly what I expected.

Bad credit report lost me my contract

Why does all of this matter? Well, in mid-February I ordered a new mobile phone (the Samsung Galaxy SII, since you asked) on contract with Orange, but my order was rejected as I failed the credit check. Embarrassed, I felt like a teenager with no previous credit, not a 38-year-old professional with a good financial track record.

It could have been worse. If I’d been applying for a mortgage or was in need of a new credit card, these just wouldn’t have gone through. And those failed Orange applications will probably appear on my credit file, further damaging my credit score.

If Equifax and Callcredit can’t update their systems in good time, why should I trust them with my personal data? And if they can’t keep my data up-to-date, they shouldn’t be allowed to have it in the first place.

Comments

If you lived at the address in question then lenders are entitled to look at and use any information registered there about you. Addresses cannot be ‘blacklisted’ of course as these days credit checks are on only people, not addresses, and people can only be linked by joint credit. My advice would be to get hold of a full copy of your credit report covering all addresses you’ve used in the past six years. Then you can look for opportunities to improve it, such as repaying any outstanding debts, and our contact centre can give you personalised help and advice.

[This comment has been removed for breaking our guidelines. Thanks, mods]

Claire says:
6 November 2012

Tbh it doesn’t matter how many times you ask for your file to be up dated they never listen and it never gets done. Experian are useless!

Graham says:
8 November 2012

I too have had many of the problems the other posters have described on this thread. I do not think that any of the CRAs, Experian, Equifax or whoever provide a service that can be relied upon by anyone. All of the agencies are equally unresponsive to requests to correct bad information, from us, the customer. As has been pointed out, the agencies charge large fees to show us how incorrect their data is. Is this a joke?

I would be in favour of supporting some form of class action against these people to encourage (preferably) or enforce (if necessary) fair treatment of consumers’ data. Clearly, the ICO is not sufficiently resourced to properly enforce this. Maybe it is time for a regulator to be appointed, paid for by the Industry, with the specific responsibility for the regulation of these people.

There is no accountability present whatsoever and this needs to change.

Class action: count me in.

[Hello Kell, we don’t allow personal details on Which? Conversation. Thanks, Mods.]

Graham – I couldn’t disagree more. Credit reference agencies are already heavily regulated. Complaints about us are dealt with primarily by the Information Commissation and the Financial Ombudsman Service. The ICO has previously said that based on the amount of data we hold and the number of complaints it receives, its view is that the quality of data the CRAs look after is very good. If you look at FOS stats, it also receives very few complaints about CRAs. If you get your credit report, find a discrepancy and let us know about it, we have a legal obligation to update the data as disputed while we investigate with the data provider for you. Most people who check their report don’t find a problem though and we help thousands of people see and where possible improve their credit reports every day. And by improve I don’t mean correct mistakes. There are often things you can do to update or add to your data and also fine tune how you use credit to make sure your credit report paints the best picture of your situation.

The article here:

http://www.thisismoney.co.uk/money/cardsloans/article-2185099/Applicants-pay-price-complaints-credit-reference-agencies-soar.html

says “Figures from consumer watchdog the Financial Ombudsman Service reveal a 74 per cent jump in the number of complaints about the agencies and lenders over the past year.”

If you have requested that a CRA update information, or correct misinformation, they must get on the case immediately. In my case (sorry to repeat), I have been on the Electoral Register at my new address since May, yet Equifax classes me as “Very Poor” because “You are not presently shown on the Electoral Roll at your current address.” They have told me they will not correct this misinformation until January – that’s nine months of a bad credit rating for no good reason whatsoever.

In my opinion, we are duty bound to complain about the excessive power these companies hold.

ujj says:
29 June 2014

I think 70% of ppl don’t get their accurate data even after paying monthly subscription.I understand there are always a big platform to receive the comments and many ways to improve but majority don’t bother to report their wrong data shown on their credit file.

Carl M says:
29 June 2014

Sorry, but anyone who tries to defend the responses from CRA’s is trying to paper over the huge cracks in the service (or lack of) that these fraudsters provide.
I have now complained 6 times about my report being incorrect. Addresses updated at one agency but SIX (6) months later one other hasn’t updated their files. Electoral roll information now correctly shown, and a response from the agency that is clearly not interested in putting things right.
Quite appalling service, pathetic customer service and 28 days to even send an email to say we’ve got your email? What is that about? If my company provided that service we would be out of business. Awful awful service and simply not good enough.

Graham says:
8 November 2012

Well, thank you for the prompt response James. We agree to disagree it seems.
These stats can’t possibly be correct, as evidenced by the number of comments on here, for instance and other anecdotal evidence to the contrary.

It sounds as if everything is fine in your garden and if only the customers provide better information/check their reports, etc. then everything will be fine.

May I ask what it is you will be doing to improve your service?

We constantly strive to improve our services and much energy already goes into data quality drives, both with the lenders who provide most of the data we hold and with the processes we employ in-house to update credit reports and to highlight errors before we update credit reports. I would though welcome any suggestions you have. As you indicate, encouraging people to check their own credit reports is also part of the equation. Forums like this one provide a really important opportunity for people to air grievances and opinions, and we very much welcome that, but from the wider market reearch work we understake and from the overall picture we have of the situation from our contact centre, we know that forums like this tend offer quite polarised views. People are simply much more likely to share negative comments than positive ones, it’s just human nature. Most people don’t find a problem with their credit report and most have positive reports that help them get the credit and credit deals they want. But forums like this are important and we will continue to engage with them to look out for opportunities to help people who are having problems.

[Sorry James, we don’t allow contact information on Which? Conversation. Thanks, mods.]

Graham says:
8 November 2012

James,

That’s an astonishing reply. I hope you didn’t mean these fora in the pejorative. So, why have a focus group that proves nothing except that human nature is just that?

That’s where you’re going wrong. Put your efforts into seeing that the agencies are not all paragons of total perfection and try instead to genuinely improve.

It really is a question of more regulation, noting your earlier objection to it, or perhaps, dare I say it, more competition?

[This comment has been removed for breaking our guidelines. Thanks, mods]

Hello James, your comments are breaking our guidelines. Happy for you disagree with others, but please try and say your points in a constructive way. Thanks

James,

Good news – I finally got my business after months of getting Halifax and the CRA’s to update the incorrect and misleading information they had placed against my Credit Score/report.

Unfortunately I missed the summer trading months which my business relys on and my claim for compensation is now with the Financial Ombudsman – they estimate it will be an 18 month process. However, I am really surprised at how many people who come to buy my product stop and chat and the number of people who have similar stories about how the Credit Reference Agencies have caused havoc in their own lives is incredible. Your claim that the number of complaints may be justifiable because when I ask people what they did about the situation they say they did nothing because there seems to be no way of complaining (apart from the Financial Ombudsman which as I have shown takes a lot of time and effort).

Are you able to let us know in this forum how we can actually lodge an official compliant about poor or unjustified ratings and who with (excluding Financial Ombudsman who are already overloaded) – try to be specific, if possible. Thank you.

Nick says:
8 November 2012

I too have suffered a similar fate, but mine is due to the council neglecting to put me on the Electoral role for THREE years!

Due to a company I worked for at management level suddenly going bust and at 50 apparently unemployable, I had no option but to go bankrupt with relatively small debts but zero income. Despite this situation hardly having been my fault and now three years later trying to rebuild my life and credit score, I am forced into a corner by the Credit Agency leeches and the incompetent South Somerset District Council.

I am unable to rebuild my credit quickly because the Credit Agencies will only take the electoral role information and the council refuse to correct the error retrospectively.

The attitude of all the staff I have contacted at Equifax is nothing short of absolutely disgusting. How these companies have been allowed to get so much strength about us is beyond me.

I personally would do everything possible to take class action against any or all of these companies.
In fact if people are interested, reply on here in general and if there are enough numbers I will supply contact details and I will lead it.

Brian Hepburn says:
19 December 2012

Re class action against these cowboys. Count me in.

I have spent the past week trying to get a simple & straightforward answer to a simple & straightforward question – Why has one of my accounts not been updated for over six weeks?

Unfornately, it seems they are not the slightest interested in actually dealing with the matter & responding accordingly. Obsfucation appears to the order of the day with these companies or better still, treat customers with complete contempt.

It is well time these companies were put firmly in their place.

Johno says:
9 May 2013

It is now mid-May 2013 and for the last month I have been trying to raise finance to buy a business. At no time did I think to check my credit rating as I have always maintained an exemplary record of my finances.

It was only after being rejected a number of times that someone mentioned I should get a statutory credit report for £2. I did not even know I could do that. When I did I found that there was false and misleading evidence regarding a mortgage I have. After going through Hell and back – the Mortgage providers have finally resolved the issue on their records but can I get Equifax to do anything about this and fast track their correction process – seems not. And I am at my wits end, as I seem to only get to speak with call centre people outside of the UK who can only follow the structured process on the monitor.

It looks like I will lose out on the business, and am now really struggling to find money to just pay my mortgage (ironically – to the same company that caused the hassles in the first place).

I would be delighted to support any class action regarding the power that these credit agencies (and other institutions like banks) have to destroy an individual – seems like just another tool to control citizens from an Orwellian 1984 society. Every individual situation has it’s own story but the agencies seem to believe their information cannot possibly be incorrect when in many circumstances it is their information which causes such anguish for individuals.

It’s not just the Credit agencies, however, it seems to me that all institutions are linked together and when one makes a mistake with the data they all publish it and it is next to impossible for an individual to live their own life yet try to resolve these situations with the institutions.

The old adage – “innocent until proven guilty” certainly does not exist here. Can any individual ever be compensated by an institution for the slur on their reputation, access to funding, the resulting stress amongst business people, friends, and families?

Its all too distressing and we need to take class action ASAP – I wish I knew how? Does anyone have a contact for a lawyer who would be prepared to fight the cause?

I agree Equifax and Call credit the worst. Their information completely wrong . Experian have me at my current address and on the Electorial register since Oct 2007. Yet Equifax say I was only there between 2007 and 2010. The Electorial Office have me on their roll from 2007 at my current address to present. Equifax tell me their search is up to date what a load of utter rubbish. Experian have me as EXCELLENT yet Equifax have me as POOR and risky and according to Callcredit I dont exsist !!!

There needs more control over these agencies who are granted licences to operate and hold all our personal detail which they cannot get correct. They destroy our lives. Why does the government allow the incompetent agencies still still operate ?

Graham says:
8 November 2012

Nick,

I will sign onto it.

These agencies do not realise the anger and dismay that a very, very large number of people feel. They wield a disproportionate and unwarranted concentration of power over nearly every adult in the Country, without due process, transparency and accountability that surely such power deserves. However, according to them, it’s our fault our ‘record’ is inaccurate. If only we paid more attention to them and their educational programmes. If only we were less negative and grumbled less. If only….

I personally have no difficulty in equating this with the many examples of greed, ineptitude and incompetence in politics, banking and the corporate world, referenced every single day in the media. This is a disease of our time. At fault is a system which depends on broadly similar data, analysed using broadly similar techniques narrowly applied and managed at the lowest possible cost. Why should this nascent scandal be any different to any of the recent others? Is this the next mis-selling scandal?

If only they were to realise that it is us, the people, who are their customers. They must realise that we are not their subjects, to be processed and classified on Excel spreadsheets, pigeon-holed and discussed in focus groups. Without us, they are nothing.

Why not collectively refuse to tick that box, reclaim that power and redress the balance?

Let us use every means at our disposal. Let the Nation tweet and like our way to recognition!

Phyllis says:
8 November 2012

Maybe set up a twitter hash tag to gather support? I’m interested in this. It really needs sorting out.

Graham says:
9 November 2012

Yes, good idea Phyllis…..

Any suggestions for a tag name? #credittheft?

Nicholasjs says:
9 November 2012

Credit reference agencies are Bankers?

My personal experince would say they are in the region of.

mark norman says:
9 November 2012

James,
17 posts in 8 days ????????????????
LET ME TELL YOU WHY
“YOUR COMPANIES INEPTITUDE TO DELIVER THE SERVICE YOU CLAIM IS OUR NEED”.
It appears we have reignited a subject you thought had gone away,but by my calculations that’s a 23% activity rate of a post that is over 8 months old in the last 8 days. !!!!!!!!!
If you have the power/authority to action anything sooner than your customer care helpline number (0844 481 0800) instead of just showing a public face (as one earlier post suggests) then don’t bother wasting any more of my time by replying to this post. If you feel you have the power/authority to offer a speedier resolution, at your expense, not my time, then I will gladly read/listen, but please first read all the post and digest its entire content before offering your resolution.I will try to make this as simpleas possible to understand as possible.
1. I applied to buy 2 properties
2. I get refused my mortgages as I am not on the electoral role at my current address.
3. I renew my subscription fee to credit expert to find out what’s wrong.
4. I have a credit score of 999 but alert says I am not on electoral roll at my current address.
5. I am on holiday in U.S.A. so I send a challenge using your on-line complaints tool.
6. I receive automated email back saying you will endeavour to resolve within 14 days.
7. I find this unacceptable and find this forum and post and enter into dialogue with you.
8. After dialogue ( first post 1st November) you agree to have my complaint fast-tracked.
YOUR FINAL POST TO ME.
Mark – I’ve asked for your query to be fast-tracked.

Report this comment
Posted 1 November 2012 at 6:03 pm

9. I call local council and within 5 minute it is confirmed I am on THE electoral roll and have been for the last 3 years.
10. 5th November. heard nothing, I’m back in UK so I call customer service and ask whats happening. It appears the council have made a mistake with the address details and told not a problem now we have the right details ( which I supplied following my investigations at my expense) and we will sort it within 3-4 days.
11. 9th November still heard nothing so call again,told some dross about you have emailed me ( but amazingly I haven’t received it) which explains your inability to track me,again I stress the details you have for me appear to be wrong. I tell you my details again and ensure you repeat them to me, I agree to send you a scanned copy my most recent polling card that you requested.
12. I request to speak somebody to have my complaint escalated to someone who can correct my report now. I am told no need we will be able to merge both addresses now and I will contact you before 8pm tonight to let you know when we can have it done by but don’t worry we will have it all done now by Monday.
13. guess what time it is now ? and i am now writing this crap and unable to get hold of anyone from your company until Monday.

I guess by now you have realised I think your company are full of S**T, well look at some of your most recent posts to understand my reasoning behind my thoughts of you.

8th november
“If you get your credit report, find a discrepancy and let us know about it, we have a legal obligation to update the data as disputed while we investigate with the data provider for you”

” I would though welcome any suggestions you have. As you indicate, encouraging people to check their own credit reports is also part of the equation.”

“But forums like this are important and we will continue to engage with them to look out for opportunities to help people who are having problems”

Well ! If you are looking for a genuine opportunity to help people who are having problems, looking for suggestions to improve your service to enable to to comply with your legal obligations than how about a helpline that helps which is manned by people that can correct mistakes instantly.

WOW a helpline that helps, whilst talking to you and reacts in a realistic time frame when the evidence obtainable via a simple phone call is overwhelmingly proven to be wrong , now that would be novel.

I have until the 27th to complete my purchases or loose my survey and solicitors fees but don’t worry, its not experians fault they are supplying a false record of my credit history, its the councils.

finally, I would lobby my local MP for my vote on the 15th November to get this company sorted but apparently the polling card I have from my local council must have come from santa early as I am not on the electoral roll !!!

Equifax are cavalier and dismissive when I proved facts about wrong information to them.
I was brushed off and belatedly told that I was wrong and the incorrect detail was to stay on my record–DESPITE THE FACT MY NAME IS WRONGLY SPELLED ON IT!!
They take a monthly fee of about £14.00 from my account so I can look at this wrong info, and doubtless they are getting a fat “refresher” from each and every institution which uses their data base.
I would be a willing signatory to a Class Action–I am not of the Twitter and Facebook fraternity, but am happy to join and pay and prove that, like their colleagues –Banks, —they are rude arrogant and treat simple requests as a bother and talk down to me.
I am 67 and a former headmaster–and I know they are thumbing their nose at me.

Pea brained box-tickers and slaves to rote. Not an original thought function anywhere, and give the impression that because they are Experian therefore they are right.

I taught a young lady who became a Head Girl in my school and went on to be a BBC producer. After a stint at BBC Radio she went to WatchDog.

I am sending her a full file with proof at the weekend.
Come back on here, Mr Experian spokesperson, and put me down….just try…

Graham says:
15 November 2012

I doubt you will hear from him on this thread again Bear….

Plainly Experian only choose to reply to a thread on here when it presents an opportunity to advertise/market/show clearly what a wonderful job they think they are doing.

I regret this cavalier attitude.

It stinks of script-driven mentalities which have increasingly taken the place of common sense and a customer driven attitude.

I ask Experian to come back and comment on my true factual revelations above.

Not as a challenge, per se, but as an opportunity for them to perhaps explain their lack-lustre behaviour and treatment of those who are obliged to recognise their existence as being arbiters of the truth.

Since I wrote my first post here a few months ago nothing has changed, apart from all my details being ‘clinically right’. I still get junk emails from Experian trying desparately to get me to join them and get me to pay them for not telling me why THEY are blacklisting me for credit!?! My advice is NEVER NEVER pay these people to see your credit rating etc as you already know yourself how credit worthy you are. They won’t do anything other than gather correct or incorrect (they’re not choosy) information about you from their privillaged sources, period.
Just reading all your problems and complaints makes me so angry, I am fortunate as I own my home and do not need credit but if I did it would ruin my life and yet we can do very little about it, However, I am writing to the Goverment and the TV people in a hope that these credit agencies are investigated throughly. Again get your free trial by all means BUT,DONT PAY THEM ANYTHING and pass it on to as many people as you can.

ujjwal says:
29 June 2014

I agreed with you,i have come across majority of us have been badly effected by this.They charge the money and still cant give the accurate iformation.

Daniel Harford-Lyons says:
19 November 2012

The financial organisations have it all tied up with the CRA’s and the system is biased in their favour. However, this is OUR information that they are dealing with and we all have the legal right to have incorrect information corrected. In theory, this is the case but in practice as the system is biased in favour of the financial organisations (purely for their benefit, not ours) then we are forced into situations that would be totally unacceptable should the situation be reversed.

If the CRA’s were giving false information to the financial organisations in our favour and missing out what is termed as adverse information then the CRA’s would be much quicker to correct these issues, as a commercial relationship exists between the two.

We have no option but to agree to our information being shared in this manner and this is what gives the financial organisations the upper hand. If we do not agree to the information being shared then we cannot even apply for the financial products we are requesting. There is no option given to us and this is possibly a breach of our basic rights under the European Convention on Human Rights, as we have a right to privacy under Article 8. The financial organisations would soon crumble if we all stopped agreeing to this flagrant abuse of our rights and consequently stopped being their customers, let alone signing up for a costly service that fulfills no purpose other than self-assurance that our details are being handled in such a cavalier manner.

Dawn Jacques says:
9 December 2012

James,
I am new to this forum after recently being refused credit due to a poor equifax credit score.
I have never had call before to download my own credit report/score but now seemed the time.
I downloaded my free experience credit report which had a full history and gave me an overall excellent score of 997.
Being totally baffled by this I rang T-mobile to question the reasoning. They informed me that they didn’t use experian they used equifax and there was nothing they could do!!
I then downloaded my report/score from equifax (which wasn’t free ) and to my dismay I had a poor 327 credit score.
They had no record of me on the electoral role for the past 4 years and no credit agreements at my current address for the past 4 years.
I contacted them and uploaded the experian report to them so that they could see their errors.
They promised they would look in to the discrepancies . We will see…….in the mean time I am unable to buy my son his desired Christmas present, a contract mobile phone, because although they have all the information from experian it will take them a minimum of 28 days to look in to the matter.

I will be doing everything within my power to make sure they keep their promises and will let you know
Thx

I have had the same experience. Experian I rate 963 ( 96%) out of a possible 999 and Excellent rate. with Equifax 331 (55%) out of a possible 600 and a Poor rate . If my credit history the same with both agencies why are the scores so different. Equifax say its because I am not on the Electorial register for my address. Experian say I have been on the Electorial register at my current address since 2007. the Electorial Office also confirm I have been registered here since 2007. Problem is different lenders use different agencies so these discrepances ruin our reputaions and stop us getting career advancements, mortgages infact any credit if they use Equifax.

lambo4586 says:
29 June 2014

AS im always concerned about my credit score,everytime I spent money I always have credit score on mind.I always make sure Im not going over my credit limit…try to make full payment to credit card every month as best as I can.I’ve never had late or missed payment.last October I was offered loan at very low interest rate and I believed I must have had good credit score.
I moved to new address recently want to try free trial from Equifax shockingly my score was very poor just 246 out of 600,
I saw my none of the credit file being transferred to my current address,I rang them and said that I have to ring those individual to send to Equifax.
looking at the forum worst one I guess is Equifax..I’m checking on Experian very soon.

Brian Hepburn says:
13 December 2012

I have to agree with a lot of posters.

Even the kindest of people would describe the service provided by credit agencies as pathetic.

As of today’s date, I have one account that hasn’t been updated since the beginning of last month, this is despite the lender informing me that they advise the credit angencies of the current status at the end of each month, regular as clockwork.

The end result, of course, is that the amount of credit you supposedly owe that’s listed on your credit record is always artificially high, which means your credit score is always artificially low, which affects your ability to source credit & so it goes on.

When you contact these agencies to complain you receive an acknowledgement e-mail informing that it will take them 28 days to respond, which means any complaint could take months to resolve. In terms of customer service, this would be laughable if it wasn’t so serious.

Unfortunately, these companies appear to have carved out a nice omnipotent niche for themselves yet accept no responsibility.

What is needed is for the government to read them the riot act & tell them that if they don’t sharpen up their act, their licence will be revoked. Only then, will you see any improvement.

I am wondering if a definition of LIBEL applies if the information–in written form–is published on a Credit Rating Agency report and then becomes readily accessible to all those organisations who read such wrong information, and apply actions negatively in direct response to that WRONG information.
Experian have just told me to contact The Communications Ombudsmans office with regard to an ongoping problem I have with Virgin Media regarding wrong information regarding an account attributed to me, but definitely not about me–as Virgin haughtily dismissed my complaint –as “We cannot change that information!”–HOWEVER Virgin does not allow/permit the Communications Ombudsman to rule over it in matters of information conflict!!
So the wrong information stays put–and Experians solution of ” Take it to the Communications Ombudsman!” shows categorically that they are unaware the Virgin thumbs its nose at that office.

Who is extracting the urine here???

I suggest Experian have not come back on here because they are not wanting to communicate with those who are fully aware that Experian is a Sham…and a giant fee-earning edifice that is no longer fit for purpose.

I feel the need to attract the attention of a firm of public interest driven lawyers to drive stakes through hearts.

….and to the Experian person who pops on here at odd times…..get some courage and face the fact that you operation is going to get shown in a poor light in the New Year—and simply post a coherent response to genuine comments.
……………..or are you as shallow as your employer??

Graham says:
14 December 2012

I agree with the earlier posters. I too have paid off a card or two and this fact has not been recognised by the CRAs in question.

Why could this be?

I suspect that an answer from our erstwhile gentleman contributor from Equifax (see previous posts), given his role as apologist for the sins of CRAs in general, and Equifax in particular might prevent him providing one. But, on the off-chance that you are still listening, (even though apparently reticent from commenting directly), would there still be a possibility of comment from your good self, Sir?

Not wishing to prejudge any potential reply, I would hazard that it would be something along the lines of a thing that I have, or have not done, rather than any culpability on behalf of said agencies….

What is the point of these agencies, then?

Maybe as they were so eager to facilitate lending decisions in the good times, that they are now similarly and as irrationally, less eager to facilitate lending decisions in the bad times.

What, I hear you say! With all the technical wizardry at their disposal, all their models and experts and statistics and computers and all at their disposal? Does it simply come down to which way the wind is blowing, what the papers say, or the deepest fears of their focus groups?

They are about as much use as their cousins who rate sovereign debt. Pretty damn useless it has to be said.

Did someone ask whether there was a point to the financial services industry in general. Does it produce a public good? No, I hear you ask. What about the agencies, then?

Well, in my view, the same goes for the error prone, crass, lazy and frankly useless credit reference agency industry.

At least a bank offers you an umbrella when it is sunny…..

I don’t believe we have had any feed-back from Equifax at all – the “erstwhile gentleman contributor” is from Experian, which, of the two, seems to be slightly better at correcting erroneous information, and offering useful advice. Credit where credit is due, but there’s not a lot admirable in either in my opinion.

Mark notmab says:
14 December 2012

Not one reply from equifax and nothing from james at experian since the 8th November !
Perhaps how boss said stop. Either way this doesn’t help the common man who is trying to correct their wrongs, how can we get these t*****s sorted. Watch dog, friendly journalist, local MP I’m up for any suggestions and will help drive this shower where they belong.
Ps still fighting to get my mortgages and prove who I am even with a credit score of 999
Come on james tell your boss he/she is wrongs and tell him/her “we need to help these people we’ve made a mistake”
Very unlikely he will risk his salary for common decency so where now ladies and gents ?

[Hello Mark, we’ve slightly edited your comment for being rude to another commenter. Please stick to our commenting guidelines. Thanks, mods.]