Read the account history behind an adverse decision
Equifax’s UK statutory report shows credit information such as borrowing history and recorded payment problems. After a refusal, checking the underlying accounts can be more useful than focusing only on a numerical score. Look for unfamiliar accounts, incorrect personal details and balances that appear inconsistent with payments. Different reporting agencies may hold different information, so one report should not automatically be treated as the complete picture.
An accurate file still needs an affordable borrowing proposal
Use the official correction process where information is wrong and retain copies of supporting documents. The ICO describes how credit-reference information can be accessed and challenged. If the existing obligations are unaffordable, address the household budget and seek advice before making repeated applications. Correcting Equifax data does not oblige a lender to approve a loan, and a more favourable report cannot itself fund the proposed instalment.
