Frequently Asked Questions

At The Credit Agency, we often receive questions from people regarding the credit services listed on our website. Our chief goal is to help out as many people as we can, providing them with the best information available, and to provide any answers as quickly as we can.

If you have already used the search facility (found at the top right of every page), and have been unable to find the information that you are looking for, then this section may be for you. Here we list the answers to the questions we are most commonly asked:

Commonly Asked Questions

1. Can I sell a debt?
2. I applied for a loan / HP / phone contract / tenancy agreement and have been refused credit. Can you tell me why?
3. I ordered a credit report online and have not yet received it. When will I get this?

1. Can I sell a debt?
We are only able to assist in cases where you (the creditor) are a registered company, you have full documentation to prove that the debts exist and are selling a portfolio of debts where the value owed is in excess of £250,000. Your organisation must also have the rights to sell / assign debts outlined in their memorandum (and articles) of association.

We insist on a portfolio of debts (not single debts) so as to spread the risk of the portfolio across a number of accounts. The £250,000 value generally ensures a sufficient spread of risk (dependent upon debt type). The other factors ensure the ability to chase on debts that have been purchased / assigned.

Some debt purchasers may consider portfolio values of less than £250,000 and perhaps also consider the purchase of single debts. If you are representing a registered company and you fall into this bracket, we would recommend that you get in contact with members of the DBSG (debt buyers & sellers group). Unfortunately, we do not currently know of any organisations whom we could recommend in this instance.

2. I applied for credit (loan / HP / phone contract / tenancy agreement etc.) and have been refused credit. Can you tell me why?

You've applied for some form of credit and have been refused for some reason. No doubt the company that you have applied for credit with, whether it be; a bank, telecoms business, insurer, landlord or whatever hasn't given you a reason as to why you've been refused credit and has indicated that your credit file / credit report is the reason for the problem.

It is important to note that all creditors will use their own decision based metrics in order to decide whether or not to grant you credit. The decision that they make is their own decision and not the decision of any other organisation (such as a credit reference agency). Therefore the only ones that can truly tell you why you have been refused credit are the ones that you've applied for credit with.

Often the organisation in question will not divulge the reason for refusing credit. The reason for this is generally to protect their credit scoring / credit decision techniques from being exposed to the public. In this instance, what you need to do is to establish what information they have used to come to the decision to refuse you credit. To do this, you need to ask the following questions:

1) Do they use any sources of credit data external to their own business in order to come to a credit decision (do they use credit reference agency data)? If so, who are they using?

The 3 credit reference agencies in the UK are: Equifax, Experian and Callcredit. ( does not hold credit data on individuals).

2) Are credit decisions based 100% on this externally obtained data? If not, what percentage of the credit decision is based on their own internal scoring models?

You may need to speak to someone at management level to get the full answers to these questions.

At this point, you will then at least know what proportion of the credit decision is as a result of credit reference agency data. Does it have a high relevance / represent a high percentage of their credit decisioning process? At least the credit reference agency data set is one that you will be able to view and understand.

Follow the links on our website to view your credit report with that particular credit reference agency. You can find links to the various credit reference agency services here. Then check through your credit report to establish whether there is any erroneous information on it. If there is, you can speak to the credit reference agency in question in order to get that credit information corrected. Hopefully this will go some way to answering your question as to why you have been refused credit.

Just to reiterate the fact again: The only true way to establish why you have been refused any for of credit (loans, HP, contract phone etc.) is to get the reasoning from the creditor themselves. As creditors are not always all that forthcoming with this information, what we have proposed is simply the best alternative.

3. I ordered a credit report online and have not yet received it. When will I get this?

Provided that you have paid for your credit report and your application has been authenticated, you should have instant online access to your credit report. If you have applied for a statutory credit report, then this will be sent to you by post within 7 days of your application being processed.