Your Credit Reference file
Your credit reference file, sometimes referred to simply as your credit file, is held by credit reference bureaus the main 2 in the UK being Experian UK and Equifax. You can get a copy of your file by writing to them or by ordering online. Credit reference files form a large part of your credit standing and factor very highly in your ability to get credit, or not!. The other factors are usually derived from the application form that you fill in when you apply for credit.

The compilation of your credit reference file commences from your first loan and possibly even before that if you registered on the electoral roll before ever getting credit. From there on it contains every loan you have taken out complete with exact statistics of payment information for each of them. Credit files do last your entire lifetime but they are revolving in their nature - that is to say they only hold a snapshot of the last 6 years of your credit history.... prior to that you should find that any credit history is already deleted (except in the case of bankruptcies where a 10 year limit applies).

It is important to ensure that your credit reference file contains both correct and favourable information about you and that you check it regularly. In those circumstances where a mistake has been made and you have adverse credit history information in your credit file then it is important to swiftly contact the credit bureaus to get the problems fixed. If old information is on your credit file prior to the 6 years then this again should be deleted and you can make a request to ensure that it is.

There are a number of ways to rectify problems on your credit file within the 6 year period. Indeed even county court judgments and defaults, stubborn as they are, can be removed under certain circumstances.

Scoring a Credit file
When you apply for credit, the lender will obtain a copy of your credit file from the credit reference agencies. For more on how credit reference files are viewed by lenders, the Complete UK Credit Repair Guide provides valuable information to help you get credit and improve your credit file. For details about the guide please click here