Understanding your credit file
Your credit file is a history of your credit agreements, held by the Credit Reference Agencies, which should be updated regularly by your lenders. If you have got into arrears on any borrowing it will be noted on your credit file.
Request expert debt advice
Applying for further credit
When you apply for further credit, the lender will use your credit file as part of their process to assess whether they will lend to you. If you have failed to make normal payments or have any County Court Judgments against you, this will show up on your file and could affect your ability to get further credit.
How to obtain a copy of your credit file
The Useful contacts section of this website contains details of three of the main Credit Reference Agencies, which will provide a copy of your record for a small fee. Check the details thoroughly as, if you have evidence that your file is incorrect, they have an obligation to amend your details.
Information is held on your file for six years but once you have fully repaid all money owed you can apply to have the details updated and the debt registered as 'satisfied'. However, if you are declared bankrupt, the effect on your ability to get credit - such as a mortgage - could be more long term.
Back to top
Next Section: Your questions answered