New Government Credit Report Initiative to Reduce Cost of Fighting Fraud

July 12, 2010 - PRLog -- Recent legislation concerning personal credit reports is being widely welcomed by leading consumer groups.

The new government initiative has meant that starting today consumers will now be able to view their credit reports online for a one-off fee of £2.

The aim is to increase public access to credit data, which should help tackle the threat of fraud, limit the number of people being denied credit unfairly and reduce the amount of avoidable CCJ’s and defaults being issued.

Consumers were previously able to apply for their credit reports online, but would either be required to sign up with agencies offering credit report services and be subjected to additional fees, or would have to wait to receive the reports via post.

Although the agencies do initially offer a free trial period for access to their instant online credit reports and provide additional alerts on any changes to the file, there was a danger that the consumer would forget to cancel their subscription, which would then cost them up to £8 per month.

Having the credit reports sent out by post would only cost the applicant £2, but this could take up to a week to arrive, a timescale which the government believed to be unsatisfactory.

“A consumer who may believe they have been the subject of identity theft would need to get the issued resolved at the earliest convenience possible,” said an employee of Credit Problems No Problem Ltd, a company that helps people to find bad credit loans.

“This is not only to ensure they have peace of mind about the suspected problem, but also to prevent any bad credit such as CCJ’s or defaults registered against them”.

The three main credit agencies; Experian, Equifax and Call Credit are all participating in the new initiative.

“We have always recommended to our customers they check their credit files on a regular basis to prevent CCJ’s, defaults and other bad credit, but consumers were understandably put off by the possibility of extra fees”.

“With this new initiative taken by the government, we are hoping that fraud and faulty data will be reduced in the future”.

Each company has added links directing consumers to the statutory reports on the homepage of their websites.

You can click on the following links to be directed to the correct pages:
http://www.experian.co.uk/consumer/statutory-report.html
http://www.equifax.co.uk/Products/credit/statutory-report...
http://www.callcredit.co.uk/stat-report-online/


Credit Problems No Problem helps out people who fear they have been blacklisted because of CCJ’s and Defaults.

Credit Problems No Problem holds a Consumer Credit Licence issued by the Office of Fair Trading. The company is also covered by the Financial Ombudsman.

Credit Problems No Problem is also registered with the Information Commissioner’s Office for Data Protection.

For rapid help, phone 08004125634 or visit
www.creditproblemsnoproblem.co.uk/ccj_loans.html    

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Notes for Editor:

www.creditproblemsnoproblem.co.uk

Credit Problems No Problem Ltd
Queensgate House
Exeter
EX4 3SR
United Kingdom
Tel: 0800 412 5634

Credit Problems No Problem was formed in 2003, bringing together a team of specialists that together offers 29 years of expertise to help applicants gain the unsecured loans they need.

From its UK head office in Devon, Credit Problems No Problem operates across Britain, sourcing loans for people with bad credit.

Credit Problems No Problem holds a Consumer Credit Licence issued by the Office of Fair Trading. The company is also covered by the Financial Ombudsman.

Credit Problems No Problem is also registered with the Information Commissioner’s Office for Data Protection.

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