Credit Search Information

Credit Search Information

If you go ahead and place the order, you've already given your approval for a credit search to be conducted as part of the credit application.

Although the order form is not a 'finance agreement', this notice is to validate that your personal details have been passed to one of our panel of funders (finance company) and we are now at a position to proceed with your order. As a result, we must make you aware of the information below and of what happens when you apply:

After receiving your credit application, the finance company will check your credit and identity with one or more credit reference agencies (CRAs) to process your order. Please be informed that, as part of managing your account, the finance company may also conduct searches with CRAs.

To accomplish this, CRAs will receive your personal information and provide the finance firm with information about you, along with details on your financial situation and financial history. This will also include information from your credit application. Additionally, the CRAs will provide information on credit, financial status, financial history, and fraud prevention that is shared with the public (including the electoral register) and others.

The three primary consumer CRAs in the UK are Equifax, Experian and TransUnion.

Information held by the CRAs relates to how you have maintained your credit and service/utility accounts. It includes details of your previous addresses and information from public sources such as the electoral roll, public records including county court judgments, and bankruptcy and insolvency data.

Information held by the CRAs is also used to verify the identity, age, and residency of individuals, to identify and track fraud, to combat money laundering and to help recover payment of debts. Government bodies may also access this credit data to check that individuals are entitled to certain benefits and to recover unpaid taxes and similar debts.

CRAs are licensed by the Financial Conduct Authority.

While you are a customer of the financial company, they will continue to share information about you with CRAs. Also, CRAs will be informed of any settled accounts registered to you. The debt will be recorded by CRAs if you borrow money and fail to repay it in full and on time, this will be registered as outstanding debt. Other organisations may receive this information from CRAs.

Please be advised that CRAs will leave a search footprint on your credit file when they get a search request from a finance company, and other lenders may be able to access this footprint.

Your personal information we have collected from you will be shared with fraud prevention agencies who will use the information provided to prevent fraud and money-laundering and to verify your identity. Please be mindful that if fraud is detected, you could be refused certain services and employment.