How does Experian differ from other credit check companies?
A potential landlord has asked me to do an Experian credit check online myself to give to him, and has also asked me for £30 so he can do another search on me with a company called TenantVERIFY. Isn’t this going to provide the same information? I think he might get my credit check from Experian and then pocket the £30 and not do another check on me….?
In the United Kingdom, the three credit reference agencies are Experian, Equifax and Callcredit, which was established in 2001 and is now working closely in association with its American counterpart, TransUnion.
Most banks and other credit-granting organisations subscribe to one or more of these organisations to ensure the quality of their lending. This includes companies who sell goods or services on credit such as credit card issuers, utility companies and store card issuers. Subscribing organisations are expected to provide relevant data to maintain the common data pool.
Credit reference agencies are bound by the Data Protection Act, which requires that data relating to identifiable individuals must be accurate, relevant, held for a proper purpose and not out-of-date. Individuals have a legal right to access data held on them.
The activities of Credit Reference Agencies are governed under UK law by the Consumer Credit Act 1974.
Unfortunately, it is his right to ask for this. Tennent check is a reporting agancy that landlord use to protect themselves from tennants that have been "Bad" tennants in the past. Experian is a regular credit reporting agency. It stinks cuz someone can have bad credit and still always pay their rent. People need places to live in.
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in actual fact the two searches are completely different and dont do a experian check on line just send your name and address and £2 to them its cheaper and it only takes 5 working days
References :
In the United Kingdom, the three credit reference agencies are Experian, Equifax and Callcredit, which was established in 2001 and is now working closely in association with its American counterpart, TransUnion.
Most banks and other credit-granting organisations subscribe to one or more of these organisations to ensure the quality of their lending. This includes companies who sell goods or services on credit such as credit card issuers, utility companies and store card issuers. Subscribing organisations are expected to provide relevant data to maintain the common data pool.
Credit reference agencies are bound by the Data Protection Act, which requires that data relating to identifiable individuals must be accurate, relevant, held for a proper purpose and not out-of-date. Individuals have a legal right to access data held on them.
The activities of Credit Reference Agencies are governed under UK law by the Consumer Credit Act 1974.
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http://www.financecomparator.co.uk
Experian dont tell other companies if your in debt with them. OTHER companies tell the companies you own money to, and they find you by your address.
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in name
the tennant thing is not a credit check company, but a renting check company
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