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:

• the electoral roll
• your credit agreements, including balances and payment histories
• home repossessions and failure to pay your mortgage
• money judgements in the county court
• bankruptcy orders and voluntary arrangements
• previous credit searches.

You can check your credit file to make sure it is correct.