Can bad paying tenents have their credit affected?

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    Can bad paying tenents have their credit affected?

    I have read the following somewhere:

    "Credit reference agency Experian, one of three such firms that hold information on your payment history, has today announced by late 2012 "several million" people will start to see rent payments on their credit file, which is used by banks and building societies when deciding whether to lend you money."

    How far is it correct. If it is, how can it be made effective. Fed up listening to genuine moans of innocent landlords, who have to pay through their noses and do hundreds of formalities to provide roof over the head of tenents and their valued possessions. Surely the law is in the favour of tenents and the bad ones are spitting in the face of legal system.

    Sorry what is your qustion, with background?


      Jagdish: welcome. Your profile says you are in Scotland, are your tenants likewise?

      Many consider the law hugely in favour of landlords, particularly with the changes in the 1988 Housing Acts.

      I am legally unqualified: If you need to rely on advice check it with a suitable authority - eg a solicitor specialising in landlord/tenant law...


        Don't hold your breath on this one just yet.
        I'd contacted Experian twice on this matter to try and get further information.
        There didn't appear to be anyone in the organisation who knew anything about this, let alone anyone who could talk to me about it. I was passed from department to department in the hope of finding someone who knew anything.
        I could only conclude it was something put out by the marketing department to gain press publicity for them in the hope of stealing a lead on their competitors.


          I believe experian decided to back-track on that idea given that LAs and LLs are not regulated. There was a thread on MSE on which a verified experian representative informed everyone that it wasn't going ahead after reading the comments on the MSE thread about it.

          I wouldn't trust one local LA access to ruining Ts credit file through being just plain thick.

          If I could trust all LAs and LLs to use it honestly and without error then it would be a great thing. I would personally find it easier to show to prospective LLs that although I am still in receipt of some LHA help that I have never missed a bill including rental payments.
          I'm a good tenant with great landlords
          I'm also a living, breathing, fully cooked female.


            A few months back they announced that they were launching a new product to record rent payments history and signing up landlords and letting agents to provide this data.
            I seem to recall that they said that this would not affect the overall credit rating, but once they have the data, who knows.

            I don't know the current status, but IMHO this is a risky proposal for tenants considering the power it gives to landlords/agents and, I assume, the difficulty to rectify inaccuracy or plain wrongful entries.


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