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When did you last check your credit rating?

While we see many services offering credit checks for consumers around the UK the vast majority of us take it for granted that the information held on our behalf is correct. However, over the last few months, as the financial situation in the UK has worsened, more and more people are now on the wrong end of inaccurate information held by the credit rating agencies. So what are the consequences?

Those who have been on the wrong end of mistakes at credit rating agencies in the UK will be well aware of the issues which could see credit cards turned down, mortgage applications rejected and other everyday financial issues blocked at the first hurdle. The truth is that while the vast majority of information held about each and every consumer in the UK will be correct, a number of people are experiencing problems. So what can we do about this?

The problem is that many people are put off by the fact they need to pay to check their credit ratings, even if this is just a few pounds, when in reality this could be one of the best investments of your life. Even though it is easy to correct any problems and issues with incorrect information, you need to be aware that the information held on your behalf is incorrect before you can start to repair your credit rating. Don't automatically assume that all information held by these credit ratings agencies is correct!

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