Learn to be a Financial Hunter - Not the Hunted

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How To Audit Your Credit File
Step 2: Check your Credit File for mistakes and other incorrect information
When you receive your 3 separate credit files check every line for possible mistakes, make a list of these and any other problems you find. The good news is that each CRA also produces a detailed booklet of how to interpret the information, as some of it looks like it's written in code.  

Will you find any mistakes or missing

  • Just because you have an account with Barclaycard or a mortgage with Lloyds they don't have to report the information to the CRAs
  • Yes, the majority of the time they do, especially when the news is bad (late or missing payments etc) but the point is they don't have to
  • This means its possible that not all your information appears on your file and when that information is good (well run Credit Card account for example) that's bad news for your credit file because information like that is very positive
  • Plus, the CRAs collectively deal with millions of bits of data every week, billions a year so mistakes are easily made

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