How to know if your information be sent to a credit reference agency?
Each time you apply for a payday loan or any other kind of loan such
specially established organizations like credit reference agencies gather
information on you and the lender’s credit behavior.
How do Fraud Prevention Agencies work?
There are several stages of working with the information on some fraudulent
- Collecting information
- Saving information
- Sharing information
Sometimes credit reference agencies have the same scheme of work and perform as
fraud prevention agencies.
Why do we use this organization if you have applied to our lender’s company?
After having checked information of some clients we still have some doubts and
want to know more about the client’s credit behavior with other companies. Such
agencies can do a research and help to take a decision. But these cases are not
very common because we usually provide our customers with an instant answer
concerning their approval. The situation may be like this only in case you
haven’t provided us with the set of necessary documents and contact details.
Where can such agencies take data from?
As a rule agencies use the information that is publicly available:
• Insolvency Service
• building societies
• credit card companies
How to know whether your information is going to be sent to the one of these
We are going to inform you if we wish to use your information for making some
research and you are going to be told why we have decided to do this. We will
tell you if we are going to send your payment history information to the CRAs.
You will be aware of all operations with your information if there are any. This
is done with the only aim to be sure that you will be able to repay the
Fast Payday Loans
and in order to make decision quickly we use the help of such agencies.
Is there any risk to allow such agencies to process your data?
You shouldn’t worry if we are going to share some information with these
agencies to find out more about your credit history or check your identity
because all of them are regulated by the protection acts. The access to your
information is controlled very strictly and only limited number of entitled
individuals may have it.
What we do when you apply for our loan
If you have provided us with all information that we need and there are no
questions to you we are going to answer you in several minutes and transfer you
money into your bank account. But seldom there are situations that require
checking some information about the borrower. Some lenders may have these stages
as their usual requirements.Check clients’ records for:
1. personal account
2. financial associates personal account
3. business account if there is such according to your job
How lenders may process your information
Your lender has the right to send your information to the credit reference
agencies in order to find out if there is a joint application made by you. In
case the borrower provides lenders with false information this is going to be
recorded and informed to fraud prevention agencies and other firms that took
part in fraud prevention.If you permit, we can use your details to offer you
other financial services.