How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ash Your Own Question
Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

Good afternoon, I have an issue with Equifax and my credit

Resolved Question:

Good afternoon,
I have an issue with Equifax and my credit score which is currently "poor".
A "poor " score implies a series of important disadvantages to my personal life, such as the inability to buy products on finance or buying at much higher interest rates.
My score is affected by a recent debt of about £40 with Debenhams and by my lack of registration with the electoral roll.
I am a hospital doctor and I have never had financial difficulties.
I would like to discuss my options on how to defend my "financial power" against credit scoring agencies such as Equifax.
Kind Regards
Ben Corbo
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Alex Watts : Hello my name is ***** ***** I will help you with this.
Alex Watts : What does the debt show as a default or missed payment please?
Customer:

Hello Alex,

Customer:

I do not have the details right now. The debt was on a Debenhams credit card that I purchased at a Debenhams store in April 2014. I didn't realise it was a credit card until I received the monthly payment and a fine for missed payment. I thought it was a "nectar" card instead. I received a phone call from D. and I paid the sum they required. I specified that I did not want the card anymore and I asked the customer service operator to close my card. I was under the impression that the card was going to be closed at that point. I receive a further request of payment from D. in the october and back then, I tried to figure out why I still had a debt pending. I closed the card "again" and payed my fine again. I am sure that I have no pending issues with D. at the moment as I have received a written letter of confirmation that my card is closed and my debt cleared. Unfortunately Equifax weighs this issue very heavily against my credit score. I feel that Equifax judgement of this event is far too severe.

Alex Watts : Is it Equifax's own score? Not external?
Customer:

Yes, it's Equifax own score. What do you mean by external?

Alex Watts : Ok if it's Equifax's internal score you have nothing to worry about. That is for your benefit and they do not share your score with anyone else.
Alex Watts : But not being on the electroll roll and having adverse history in terms of the Debenhams account does affect how lenders perceive you.
Alex Watts : But they don't use the score from Equifax and only use the information provided to come up with their own score.
Alex Watts : But you need to check to see if the Debenhams account is a missed payment or default.
Alex Watts : If it is a missed payment only then after 12 months lenders tend not to worry about it.
Alex Watts : If it is a default then it will be of more concern, but then it's a matter between you and Debenhams as Equifax only display what Debenhams provide them with.
Alex Watts : Can I clarify anything for you about this today please?
Customer:

I will check with Debenhams and clarify if it is a default or a missed payment. Thank you for your advice. And happy 2015.

Alex Watts :

And you.

Alex Watts :

Can I clarify anything else for you/

Customer:

No thank you.

Ash and other Law Specialists are ready to help you