Notice of Correction (NOC’s) and Your Credit Report

Notice of Correction (NOC’s) and Your Credit Report

What is a Notice of Correction (NOC)

A Notice of Correction (NOC) is a brief note (no more than 200 words) which you can add to an entry on your credit report or credit file. This allows you to explain reasons for elements in more detail. Any Lender that performs a credit check or search and reviews your credit history must take it into consideration.

When Should I add a Notice of Correction

An example maybe if you notice an error on your credit report which is taking some time to resolve, or you lost your job and was unable to pay some bills for a period of time and you have late payments or CCJ’s, for example and wanted to add some context to the hard facts. In reality adding a notice of correction is not going to affect your credit score, just explain certain entries on it. Credit Geeks explains elsewhere actions to take to improve your credit score.

How to add a Notice of Correction to My Credit Report.

To add a notice of correction you need to contact the relevant credit reference agencies (CRA), in the UK the key ones are Experian and Equifax and then the smallest is Callcredit. Credit Geeks recommends, adding this notice of correction, to your credit data with all of the credit reference agencies, as a lender can use a combination of CRA’s or anyone of them.

Notice of Correction Example

A notice of correciton sample, is provided below from Experian's Credit Expert, and refers to a credit account like a loan for example:

I, Mr/Ms XXXXXX, would like to explain the circumstances that led to the late payments/defaults recorded against the account started on DD/MM/YY. I became unemployed and my income was reduced to XXXX. I unfortunately was unable to keep the original payment contract. I ask all lenders searching my credit report to take this into account.

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