Where's My Bailout?!
Each time you apply for credit, whether it be a credit card, small loan or
mortgage, the company in question will do a credit search on you.
The result will show them whether you are a good risk, moderate risk or bad risk.
Only you, and with your permission, suppliers of credit and the agencies acting
for them, will have access to this information.
Each month your creditors send information about your payment history for that
month to credit agencies, and this information builds a profile of your
The main UK agencies are:
All can be requested on-line, and the report will be either instantly accessible or
will be sent to your home address, depending on which agency you use.
However, not all creditors send information to all three agencies.
They may, for example, send it to Experion and not to Equifax.
The effect of this from your point of view is that a report from one agency may not
mirror exactly a report from another agency.
Therefore, in order to see exactly what you owe, to whom, and a complete
payment history, it is advisable to obtain a report from all three agencies.
You can obtain a report which will contain information that is held by all three
agencies from www.CHECHMYFILE.com.
This will provide you with a comprehensive list of your creditors, the original start
dates of loans, and the outstanding balances.
In order to protect your identity and to ensure that the person requesting the
report is actually you, Checkmyfile will send you a PIN addressed to you at your
home address within two working days.
Once received, you will be able to access your credit file.
Needless to say, they do make a small charge for this service, but in relation to
what you ultimately want to achieve, the cost is minimal and the money well
Our advisors will need this information in order to negotiate with your creditors,
and it will save you valuable time if you have the information readily to handÈ.