Is my credit score affected
Rebecca Rutt, of This is Money, replies: Whenever you apply for any type of credit, be it for a new credit card, a loan, a mobile phone contract or even a mortgage, your credit score will be checked by the lender.
This is done so it can make a decision over whether to approve the credit to you and at what rate of interest so therefore it's important you regularly check your own.
You say you've been receiving letters from debt collection agencies and that although they are not in your name, they are under your address.
You are now pandora usa worried that as the previous tenant is being chased by debt collectors, your own credit score could be affected or you may even get a visit from a bailiff at the door.
We approached an expert tosee where you stand.
James Jones, head of consumer affairs at Experian, replies:'As far as your credit rating is concerned, unless the previous tenant is using your name then your rating should be totally safe.
'This is because credit checks these days take place on people and not on addresses. People can only be linked on credit checks by joint financial activity, such as if two people take out a joint loan or joint bank account. That's unlikely to have happened here.
'Most people who are linked in this way will be current or ex partners. If you want to double beads for pandora bracelets check this, simply order a copy of your credit report from any of the three credit reference agencies (Experian, Equifax and Callcredit) and check the section called 'financial associations'.
'If the previous tenant's name is not there then you have absolutely nothing to worry about.
It is always worth checking your credit score to make sure there are no fraudulent transactions
'On to those debt demands. I suggest you return any post sent to the previous tenant straight back to the senders, making it very clear they no longer live at the address. They should eventually get the message. If they persist, get the head office address of the firm or firms in question and send a formal, written complaint.
'Your own credit report should include details of any credit accounts (such as cards, bank accounts, loans, mail order accounts, car finance, and mobile phone contracts) that you've used in the last six years.
'These records will show whether you made the monthly payments on time and, for open accounts, how much you currently owe. Other records added to credit reports include court judgments and insolvencies, the electoral roll, and a record of any recent credit applications.
'It's sensible to review your credit report with all three credit reference agencies at least once a year and, additionally, before making any important credit application.
'That way, if you spot a discrepancy you can ask the agency to correct it before it affects you. A one off 'statutory' report costs just 2 and you can sometimes get this for free.'
Rebecca Rutt adds: 'Even if you don't have a forwarding address for the tenant, you can send back these letters to the companies in question.
As the debt isn't in your name, the firms involved should stop sending these letters but if you're concerned about a bailiff turning up at your door you can always seek advice from acharity such as Citizens Advice.
Ithas conducted a lot of work around debt collection agency practices during the past year. In circumstances where a bailiff is bracelet pandora charms involved, an advanced notice is sent out at least seven days before they are allowed to visit a property. However, as the debt isn't in your name, this is extremely unlikely to happen.
FIVE TIPS TO IMPROVE YOUR CREDIT SCORE There are a number of ways you can improve your credit score, here are five quick tips andour guide has full details.
1. Get into the habit of pandora specials australia using credit on a regular basis, but never take on more than you can afford.
2. Always stay within the agreed credit limits and make your repayments on time.
3. Don't apply for lots of credit in one go, these will leave a mark on your credit score and can be seen as a sign of financial stress.
Register to vote at your current address as lenders use the electoral register to help confirm who you are and where you live.
5. Regularly review your credit report to make sure everything is accurate and there are no unexplained transactions or applications.
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