Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Some people have complained they were efused a loan because of information held on file by a credit reference agency. In such circumstances, what power does the individual have?

April 26, 2017agency complained credit file held loan people Reference refused

0

Posted

Some people have complained they were
efused a loan because of information held on file by a credit reference agency. In such circumstances, what power does the individual have?

1 Answer

0

Posted

If you apply for credit and are turned down, you could contact the lender within 28 days. They are legally obliged to tell you whether they used a credit reference agency, and if so, which one. If they did not use an outside agency and you were turned down, you failed the ‘credit scoring’.