Hi everyone,
I' hoping someone can tell me if I made a huge mistake by ticking a 'terms and conditions' box on a loan broker site and whether or not I can stop it...
About a month ago I started working for a bank and I nearly did not get the job because my credit score was not so great. I signed up for Experian to have a look for myself and saw that two credit cards in arrears had put 2 defaults on my record and my credit score was in the 'fair' category.
As an idea, I considered a debt consolidation loan to wipe out the defaults and visited eurocredit-loans.com . I made an application without reading the terms properly and before I knew it I was receiving constant calls and SMSs every day from loan companies who had received my details from this site.
I contacted eurocredit and asked them to delete my application and they got back to me and told me they had done so, but the calls keep coming. Disturbingly, one of the loan companies told me that these broker applications have a chain effect, that once my details are passed to one place they are then passed to another and so on until the original company has no clue where my details have spread to.
What I am concerned with though, is not whether these lenders have my contact details, but whether they each have authorisation to search my credit report without asking me, all because of some small print on the original broker's site?
I signed into my Experian credit report today and saw that at least one loan company made a search on my credit report and my credit score has dropped by 100 within the last 3 weeks, and now I am labelled as 'poor'.
Does this indicate that my fears are confirmed? Surely there must be some legal action to stop people searching your credit report whenever they feel like it, maybe months after you made a loan application.
Melanie