At Turner Little, we know that the reasons for being declined credit are many and varied, but it usually comes down to the information held about you by one or other of the Credit Reference Agencies.
The natural instinct of most people when they are declined credit is to apply elsewhere; now this is perfectly logical but often has a detrimental effect on your credit score. Before granting you credit, the majority of institutions will run credit checks on you and each search made will register on your credit file. Even relatively few checks over a short period of time can have an adverse effect on your record.
If you are declined credit, it is recommended to find out why and strategically plan your next move. Something as simple as out of date or incorrect information on your file could affect your credit-worthiness as can family members at your address with adverse history.
Other factors having an adverse impact might include:
• No electoral roll information
• County Court Judgements (paid or unpaid)
• Defaults (paid or unpaid)
• Family adverse credit
• Inadequate or poor payment history on any accounts (currently or previously held)
• Multiple address links
• Multiple links with other people
• Incorrect information
• Multiple credit searches
• CIFAS warnings
• Out of date information
• Repossessions
Personal Credit Analysis and Correction £85.00 + Vat
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Personal Credit Analysis Stages 1&2.
Our Personal Credit Analysis & Correction process
Prior to placing an order, you remain at liberty to discuss the proposed Services with us via telephone, email and livechat, free of charge. Should you wish to place an order, this can be achieved via telephone or directly via our website.
Once your order has been received, including receipt of payment, you will enter into our standard Terms of Business and you will receive our Letter of Engagement and asked to complete our Compliance Process. Once the Compliance Process is Complete, your order will proceed as follows:
Stage one
Your credit files will be obtained directly from the Credit Reference agencies.
Stage two
We will analyse your files in-depth. The aforementioned documentation will be provided to you to enable you to understand any entries on your record that negatively impact your credit-worthiness.
Stage three
We will provide a clear outline of your options and discuss items identified in stage two to establish what action can be taken to remove or amend any damaging items. We will also suggest ways to improve your credit file. The contents of the Credit Files will be addressed, at which point you may choose to contact the Credit Reference Agencies, where you believe that inaccurate data is displayed.
Stage four
We will take care of your request as agreed in stage three. Where you have chosen to address inaccurate data with the Credit Reference Agencies, any Notices of Correction you may wish to issue will be dispatched to the relevant Credit Reference Agencies.
Stage five
We will give you a detailed copy and analysis of your amended file together with a full explanation of its contents. The relevant Credit Reference Agencies will provide copies of updated Credit Files.
How long does Credit Analysis & Correction take?
• Stages one to three can usually be completed within two or three weeks.
• Stage four can take anywhere between two and six weeks, depending on the complexity of your case.
• Stage five is usually ready two or three weeks after completion of stage four.
What are the costs?
• Stages one to three are at a fixed cost of £85 + VAT
• Stage four will vary depending on the content of your file and what corrections are required, but as a guide, each item will be charged at £20 + VAT per item for all items addressed, up to a maximum of eight items. If there are more than eight items, the cost will be capped at eight charges – 8 x £20 + VAT, in other words, £160 + VAT. The final figure will be notified to you in advance with no obligation on your part to proceed further if you do not wish.
• Stage five is free of charge and complimentary.
Essentially, the maximum cost you can incur is £245 + VAT, and the minimum charge is £85 + VAT. The initial fee of £85 + VAT is non-refundable unless you subsequently cancel your order and no work has already been carried out on your behalf.
If you would prefer to obtain your files yourself, which can be obtained free of charge from Credit Reference Agencies, we will still analyse them for you and suggest the appropriate action. In this case, the charges for stage two and three will be £85 + VAT, which comprise the professional analysis, interpretation and administration of the files.
You are of course not obligated to proceed with stages four and five and you are at liberty to pursue any correction or amendment work directly with the Credit Reference Agencies.
Whilst we would be pleased to assist you with Stages Four and Five, which can in some instances be a time consuming process, please note that we cannot guarantee that a particular Credit Reference Agency will accept a correction, removal or amendment request. Factual data cannot be removed from a Credit File. Please note that the fees for these Stages are inclusive of professional administration and time costs, therefore, the fees will apply regardless of the outcome.
Where any disputes have arisen between Lenders, a Notice of Dispute may be submitted, whilst you resolve any outstanding issues with the Lender(s).
Your rights to cancel
When we have received your order and payment, we will send you written confirmation that there is an agreement between us. You will have the right to cancel the agreement between us within fourteen working days of the date of our written confirmation.
If you request us to start our Credit Analysis & Correction service within that fourteen working day period, your cancellation rights will lapse. If you do not tick the box on the order form to indicate that you want us to begin right away, we will wait fourteen working days before we start the process.
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