There is a big positive for you personally if you get your free credit report or file, and that is the last section on your credit report, The ‘Other Access’ section.
ONLY you get this section. If you ask a broker or lender to get you a copy of your report, their version won’t show the ‘Other Access’ section at all.
So, Why is ‘Other Access’ important?
Well, this shows you who is taking a sneaky little lookie lookie at your credit file, but not as a credit enquiry (which would be recorded in the ‘Enquiries’ section)
Organisations having a sneak peak at your credit file often include Debt Collectors or more accurately, Debt Buyers.
- Credit Corp
- Pioneer Credit
- Lion Finance
- Panthera Finance
- Transaction Capital etc
These Debt Buyers ‘buy’ your debt from Banks, credit card companies, phone and internet companies, energy companies, and so on…
They then chase you for the full amount of the debt plus fees and interest if applicable.
These Debt Buyers often check your credit file before they make contact with you because they are checking you out to understand your application pattern, your employment history, your assets, and your current address and address history.
They want lots of info because they want to get paid…
Often, a Debt Buyer will show up in your ‘other access’ before you even know you have missed a bill.
Knowing this piece of vital information can help you avoid being defaulted by alerting you that you may have a problem (a missed bill) and allowing you to take positive steps to rectify the issue before your credit report and credit score are negatively tarnished.