Credit Report FAQ
Credit agencies and how they get data
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- Your credit files are held by credit
reference agencies. They hold files on nearly all UK consumers. The credit agencies gather
and store information about people in order to provide other companies, such as lenders,
with information that can assist them in profiling applications.
- Credit reference agencies have a legal right
to hold information about you that is already in the public domain such as county court
judgments and bankruptcy orders. They also get name and address information from the
electoral roll. The credit agencies also collect and supply other information about you
under Schedule 2.1 of the Data Protection Act. This allows the credit agency to process
this information if you have agreed to it. You will usually agree to this when you apply
for credit. A section of the lender's application form will refer to a section that
explains how your personal information will be used.