Since 1988, Cifas has helped its members and customers protect themselves from billions of pounds worth of fraud losses. However, there are instances where the markers used, which are reported by member organisations to Cifas, are not necessarily correct and many individuals find themselves with adverse credit ratings meaning that they are unable to borrow money, and in extreme examples, are prevented from taking on certain jobs. There have been many incidences where account holders have not known about these markers until it is too late.
There are ways of checking out your credit report. Many people would not necessarily realise they have a problem with their credit reports until they had come to apply for credit.
Sometimes markers can be removed by account holders contacting lenders direct. However, many lenders will deem their reasoning is valid and therefore legal advice is needed to properly challenge the markers, particularly where allegations of fraud or harm are alleged. The criteria the banks and other lenders use for creating markers is sometimes confusing and frequently to a lower standard of proof than the police would work to.