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Credit reference agencies
Credit reference agencies collect and store information
about everybody's financial situation. Agency records are not
a 'blacklist'. Credit reference agencies provide factual information
to lenders, for example, banks, building societies, finance houses
and major retailers. The lender uses the information provided
by the credit reference agency, together with the information
given by you on an application for credit, to decide whether or
not to grant credit.
If you fall into debt, your credit reference file
will show this. You could then find it difficult to get more credit,
or for example, get a mortgage.
The agencies list details of:
