Remember that because some companies supply information to Equifax, some to Experian, and some to both, you will need to order copies of your file from both agencies in order to get a full picture of your credit record.

Alternatively, online service available from checkmyfile.com will allow you to undergo a free credit score check, as well as download (for a fee) a copy of your full credit report.

If, after having obtained a copy of your credit file, you find that it contains errors, you can take matter up with Equifax and/or Experian and ask them to correct mistakes. Full details of procedure for correcting your file are available on companies' websites and are also sent in post along with copy of your credit file.

Credit scores, credit ratings, and credit blacklists

First of all, let's dispel a popular myth.

A lot of people think that there is a "blacklist" you can end up on if you have a particularly poor credit history, and that if you are on this list you will automatically be refused credit.

This is simply not true - there is no such thing as a credit blacklist. If you have been refused a mortgage or other form of credit, reason will be because your credit score was not high enough.

When a lender requests information about you from a credit reference agency, they apply a mathematical formula to that information in order to give you a credit score. Different lenders will use slightly different factors to create score.

Also, definition of a good or acceptable score will vary from one mortgage lender to another. Therefore, it is quite possible to be turned down by one lender but be accepted for a mortgage by another.

Given that you are potentially worsening your credit score every time you approach a lender about a mortgage and they run a credit check on you, and given that different lenders will have different criteria for assessing your credit worthiness, it makes sense to talk to experts right from start if you are looking to take out a mortgage but suspect you may be hampered by a poor credit record.

If you're worried that a poor credit record may affect your ability to obtain a mortgage or remortgage, Clean Slate Mortgages can help put you find a mortgage adviser who specialises in finding mortgages and remortgages for people with credit problems.

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Copyright 2004 David Miles. You are welcome to reproduce this article on your website, so long as it is published "as is" (unedited) and with author's bio paragraph (resource box) and copyright information included. In addition, all links to external websites must be left in place.

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