If there’s something negatively impacting your credit score - that isn’t typical of your borrowing history – then a notice of correction could be a useful addition for you.
What is a notice of correction?
A notice of correction is a short statement you can add to your credit report to explain something that’s harming your score. There’s no cost involved, and adding one won’t affect your credit score further.
You could use a notice of correction if a company has incorrectly recorded a missed payment or there were unique circumstances leading to the negative marker. For example, if you were made redundant or going through an illness. You can write a notice of correction to explain to lenders that this isn’t indicative of how you usually handle credit.
Lenders are obliged to read notices of correction when they’re checking your credit. However, it doesn't necessarily mean they have to take it into account.
How do I write a notice of correction?
A notice of correction needs to be brief - within 200 words. It should be accurate and to the point. For example, if you missed a payment due to losing your job, explain what happened, including any dates. Refrain from using emotion and stick to the key, factual details. You can write it yourself, ask a solicitor or the Citizens Advice Bureau to help you. Include your identity details - name, address, and date of birth - and remember to sign the letter.
You can write multiple notices of correction if there are multiple issues you want to address. Depending on the information held, you might want to add the notice of correction at all three of the main credit reference agencies.
How to add a notice of correction to my Equifax report
You can send a notice of correction online or by post to:
Equifax Ltd, Customer Service Centre, PO Box 10036, Leicester, LE3 4FS.
You can check your Equifax report for free (for life) with our member-only platform, CredAbility.
How to add a notice of correction to my Experian report
Experian have an online form you can use to submit a notice of correction along with an example of what it should look like.
Alternatively, you can send it in the post to:
Experian, PO Box 9639, Nottingham NG80 1AE.
How to add a notice of correction to my TransUnion report
You can email your notice of correction to TransUnion on [email protected] or send it in the post to:
TransUnion UK, Consumer Services Team, PO Box 491, Leeds, LS3 1WZ.
What happens next?
When the credit reference agency receives your notice of correction, they’ll check that it’s acceptable to publish. If it isn’t, they’ll contact you to reword it or refer it to the Information Commissioner’s Office. Once accepted, it could take up to six weeks for the notice to appear on your credit report.
A notice of correction will remain on your credit file until you contact the relevant agency to ask to have them removed.
Staying on top of your credit report
In the meantime, you should work on keeping your credit report clean and attempting to improve your score where possible. Ensure all your addresses are up to date, that you're keeping up with payments and that you’re trying to pay off any debt where possible.
A lender isn't legally obliged to approve your credit application just because you have added a notice of correction, so it's best to work on maintaining a healthy credit file.
Disclaimer: All information and links are correct at the time of publishing.