When you apply for credit the lender often decides whether to grant you credit or not after running a credit check by using either Bradley James Consumer Credit Search or one of the other Credit Reference agencies, to check all Information stored on your credit file, this will show your credit score and all information they may hold about you, and this could affect any decision made in offering you credit.

It can be very upsetting and confusing if you have been refused credit, but you can apply in writing to ask why the lender has come to that decision. They should also tell you which credit reference agency they have used to access your individual credit information.

There are certain steps that you can take which may help you improve your credit rating and therefore avoid being refused credit in the future:

• Make sure you are on the Electoral Roll at your current address. Most lenders consider this to be a very important point. If you have recently moved house, you can now register on-line at http://www.rollingregistration.co.uk, or contact your local council.
• If you have fallen into arrears on any previous credit agreements in the past that you have now settled, Bradley James can check your credit profile to ascertain and make sure the settlement of the account has been recorded, this can only be done if you have received and lodged all relevant documentation applicable to the debt.
• If this has not been done you need to contact the organisation in question and ask them to amend their records accordingly.
• Ensure that any County Court Judgments you have are paid off and marked as satisfied on your credit report. If they have not been marked as satisfied, contact the relevant County Court and ask them to provide you with a certificate of satisfaction, this will cost you about £15-00, you can then forward this to the credit reference agency, or with your written consent we at Bradley James can do this for you.
• Make sure you make at least the minimum payment every month on all your credit agreements. If you miss a payment, it will be registered on your credit file.
• Don't keep applying for credit if you've been previously refused, as each time you apply this will be logged on your credit file, and you will keep getting refused, and leave many credit search footprints on your file, which will suggest to future lenders that you are financially over-committed.
• You have the right to state your case if your circumstances have changed perhaps you have recently lost your job, or are going through a divorce or have been made redundant, you need to explain your financial circumstances to any lender who may search your file. You can make a statement of up to 200 words, which has to be viewed by the lender searching your file.

Remember that although being turned down for credit following a credit check can be upsetting it does not necessarily mean you are not creditworthy.
It is essential to check the information held on your credit file to make sure it is accurate and up to date. If there are inaccuracies have them updated or removed from your credit report.

Bradley James Group