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Credit reference agencies have a nasty habit of keeping track of your financial misdemeanours, however, there are some things even they don’t know. Credit reference agencies have no record of; fines, saving accounts, medical problems, family members, criminal records, child support agency information or record of credit accounts pre-1994.
If you have taken out a student loan, credit agencies will not have this on their files unless you have defaulted on repayments.
Obtain a free credit report from credit report agencies to ensure your details are correct. Online free credit reports are available from most credit report agencies. Notify the credit report agencies when you believe that identity fraud has taken place and support your claim with documentation whenever possible.
Credit reference companies store information supplied to them by lenders. Some agencies, such as Equifax, hold information for as long as six years. Lenders do not automatically supply information throughout the life of every credit account but at the very least they provide credit report agencies with details of customers who have defaulted.
Credit accounts are classified as follows:
Credit agencies can keep a record of all accounts for six years.
Note: Every record of a credit account will include a history documenting whether or not payments have been made on time. Credit accounts can include your payment record over three years.
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