Free Credit Score In UK

Annual Credit Report UK: The British citizen Can Have It Legaly

Press Release   •   Nov 11, 2010 11:32 GMT

Annual Credit Report UK refers to a report that contains details of the annual financial transactions of a British citizen. The citizens of United Kingdom can be aware of detail accounts of their borrowing and reimbursement from the Annual Credit Report UK.

Annual Credit Report UK is very important for the people who have had borrowed from several financial agencies and institutions. Men and women in Great Britain have been facing financial crisis for numbers of years. Prices of essential commodities have touched the sky, and the government does not appear confident in its attempt to rein the market price. This is the situation in which most of the people find it difficult to meet up their demands. They have been passing through difficult time more because of the fact that they have very limited earning and that their earning is fixed.

A large section of these people start borrowing. When they cannot cope up with the rising demands and rising prices, they borrow once again. They go on borrowing from available sources. Then, they fail to honor the loan agreements and begin to default. In course of time, they are tagged with arrears, defaults, CCJs, IVAs, bankruptcies etc. Their credit score reaches below 580 as per FICO. The lenders begin to reject their loan applications. Annual Credit Report UK has significance in this connection. This report allows the borrowers where, on the earth, they do really stand to the close of the year.

If they try to buy a vehicle or a home or even a piece of land, and if they want to secure finance, credit report will let them know details of their transactions. There are three important financial bureaus, Equifax, Trans Union and Experian by name, which prepare credit report of the individual borrowers. The lending agencies secure credit history of the borrowers from these bureaus.

It is not the fact that they always prepare the credit report free from errors. The borrower should go through his credit report to know if the data used by these agencies are correct. He must raise the issue of mistakes committed by the staff of the credit report bureaus and get the same rectified.

Some years back, the borrowers were not given a single copy of their credit report. The lender had chances to treat them on their own will. It is no more possible. The borrowers have given the legal right to secure his credit report, and that too, free of cost. The borrowers can now take precautions before applying for fresh loans. They can try to improve their credit history and finally get a good harvest.


Anthony Brian is author of Free Credit Score in UK.For more information about Credit Score, Free Credit Rating Check visit http://www.freecreditscoreinuk.co.uk