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Improvement of your creditworthiness
Creditors are paying for credit information because it can help them determine whether to loan funds to prospective lenders by supplying information about the borrower's historical record of repayments. Such information is known as the borrower's credit information or credit files. Creditors use this information and weigh the information thus obtained, mainly monetary information, against other determinants such as how old the borrower is, his or her job and whether he or she is a house owner.
Usually this is the information that the borrowers specify on the loan request. Contact the creditor to find out why the credit was rejected. Where the creditor has used information from a credit bureau, the debtor should be notified of which bureau has been used. Whenever you make an effective request for credit, a "search" will appear on your credit reference.
When there are many queries appearing on your reports, it can give the appearance that you are desperate for credit from a number of creditors, meaning that you have had several rejections. For how long do the credit agencies keep your information in the files? You generally retain the information in your reports for six years from the date of the original failure.
Ask the credit bureau to include up to two hundred words in your account stating why you are in indebted or why you believe that information about your account is deceptive. Anyone who reads your credit reports will then see this information, such as a creditor who searches for your credit reports when you request credit.
Is it possible for your creditworthiness to be influenced by that of other persons? That means that other people's credit information should not influence your creditworthiness. The only thing your account says is you're connected to that guy. Loan providers who look at your reports will see all the information about the person's credit histories, such as what kind of credit they have and whether they are up to date with their payment.
To dissociate yourself from them and explain your reasoning, you can contact the credit agency in writing. Fill out a contact information sheet that contains information about the individuals you want to remove from your reports.