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What are credit score corrections?

If you think information on your credit report gives the wrong impression of the way you manage money, there’s action you can take. Read our guide to credit score corrections.

If you think information on your credit report gives the wrong impression of the way you manage money, there’s action you can take. Read our guide to credit score corrections.

Written by
Sajni Shah
Consumer expert on money and utilities
19 AUGUST 2022
4 min read
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What is a Notice of Correction? 

A Notice of Correction is a short statement added to individual entries on your credit report. These statements should be no longer than 200 words, and are used to explain, for example, a missed or late payment.

When applying for a loan, credit card or other type of credit, a lender will check your credit score and credit report. If they see missed payments, they could decide to refuse to lend to you. But if you’ve missed a repayment because of exceptional circumstances, such as illness, you may be able to request a Notice of Correction.

This can help explain why missed payments aren’t a reflection of your general money management and why they should be overlooked by potential lenders.

Is a Notice of Correction right for me? 

If you feel that an entry on your credit report isn’t a good reflection of your general approach to repayments, a Notice of Correction could help you give an explanation to potential lenders. However, you’ll need to have a genuine reason for missed payments for the Notice of Correction to be valid.

A Notice of Correction is usually for a one-off instance, rather than a series of missed payments.

Some examples of acceptable reasons for missed payments include: 

  • Accident or illness
  • Redundancy 
  • Lost invoice or late payment 
  • Duplicated payments.

How can I provide a Notice of Correction? 

To add a Notice of Correction to your credit report, you’ll need to contact the relevant credit reference agency (Experian, Equifax and TransUnion) and let them know where you want to add your correction. You should be able to do this online.

Once the credit reference agency adds the note of correction to your credit report, you can notify any potential lenders about the change.

What should I include in the notice of correction? 

The Notice of Correction should be concise, giving only relevant facts about the credit entry you’re referring to. It should also include any relevant dates.

Think very carefully about the words you use. Try not to use emotive language or personal opinion. And don’t mention any other individual or organisation by name.

If you’re sending your notice of correction by post, be sure to include your full name, date of birth and home address. The letter should be signed by hand.

Will a Notice of Correction affect what I can borrow? 

How much you’re able to borrow will always come down to the individual lender.

A Notice of Correction won’t change your credit score, which is one of the factors lenders use when deciding whether and how much to lend to you. It’s simply designed to provide potential lenders with context around specific entries on your credit record. Although lenders are obliged to take a Notice of Correction into account, it won’t necessarily persuade them to lend to you.

Loan applications can take longer if you have a Notice of Correction on your credit record because lenders will need to review it.

Can I remove a notice of correction? 

Yes. To remove a notice of correction, simply contact the relevant credit reference agency and ask them to take it off. You should be able to do this online.

Removing a notice of correction can take up to 28 days, although it usually happens sooner.

What should I do if my credit report doesn't look right? 

If you think there’s a mistake on your credit report, the first step is to contact the relevant credit reference agency and raise a dispute. To do this you’ll need to send any relevant information you have to back up your claim. The agency will then be able to go back to their sources of information to find out if there’s been an error.

This process can take some time, so it’s a good idea to put a Notice of Correction on your credit report until the investigation is complete.

What happens after I dispute my credit report? 

Once you’ve raised a dispute, the credit reference agency will investigate your concerns along with the evidence you’ve sent them. If they find there has been an error, they will correct your report. Once the report has been updated, you’ll need to notify all the companies who’ve been sent the inaccurate information.

If the credit reference agency decides the information is accurate, you can add a Notice of Correction to explain it.

Frequently asked questions

What is a credit score?

A credit score or rating gives an indication of how likely you are to pay back money you borrow. It’s calculated based on your credit history, the money you currently borrow and how you manage repayments.

The higher your credit score, the more chance you have of being able to borrow money at good rates.

Why does a credit score matter?

When you apply for a loan, credit card, mortgage or car finance, the potential lender will look at your credit score to determine how likely you are to be able to pay back your loan or keep up with payments. It will be a factor in whether they decide to lend to you and at what rates.

How does missing repayments affect my credit score?

Even missing a single payment could impact your credit score. Missed payments stay on your credit file for six years, although the more time that passes, the less impact it will have on your credit score.

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