Under the Data Protection Act of 1998, Callcredit, Equifax and Experian are required by law to offer a statutory credit file, which is sent out in the post and takes around seven working days.
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There are five credit reference agencies in the UK; Callcredit, Dun & Bradstreet, Equifax, Experian and National Hunter.
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Callcredit, Equifax and Experian gain information about consumers’ credit records from various sources including banks, building societies and lenders that have granted the consumer credit.
Hyde spent most of his career with Retail Credit Co., a credit reporting agency that changed its name to Equifax in 1979.
The company also had a division selling specialist credit information to the insurance industry but spun off this service, including the Comprehensive Loss Underwriting Exchange (CLUE) database as ChoicePoint in 1997.
Equifax |
TrustedID's initial products, launched in 2006, were focused on helping consumers "freeze" their credit reports, following the advent of legislation that gave individuals the right to stop the three national credit bureaus, Equifax, Experian and Trans Union, from selling and individuals credit data without first getting consumer consent.