How Does One Recover From A CIFAS Note On Their Credit File?

Question

I am starting a new job in 6 weeks paying twice my current salary. While applying for a loan I used the employment & salary details of my new job because I felt it would improve my chances based on the higher salary. Besides the loan repayments start 3 months after it has been approved so I figured I'd already be in the job & saw it as a small white lie. But it appears the lenders checked to verify my employment details & found I didn't work there & declined the application. I was suprised bcos I knew I had a good credit rating and requested for my Credit File & was stunned to find a CIFAS note from the bank saying "(Application Fraud) Correct name & address used but with material falsehoods in personal details significant to application. The facility was refused" I am concerned that this has permanently damaged my credit file. Does anyone know anything about these notes & how I can have them removed. Or am I stuck with it for life?

Answer 1

You shouldn't have done it, but you know that so I won't go on about it, its just to warn other people not to do the same thing.

Having a CIFAS note isn't the end of the world though. Automatic computer programs that make decisions will refuse you credit instantly, however cases where the decision is made by a human are different, and there are cases where it can be overlooked, its entirely down to the lenders discression.

The positive news for you is than unlike defaults etc which stay on your credit file for 6 years before they are taken of your credit file, CIFAS notes only stay on your credit record for 1 year. So 1 year and 1 month (it takes a month after the time period to have it removed) you will be clear again, its not a life sentence.

Bear in mind though that you were lucky. Although it seems like a small white lie and doesn't seem that bad, you can be prosecuted for this, its down to the lender if they decide to press charges. You could end of ended up with a prison sentence.

However, put it behind you now and move on, you probably won't get credit for the next year, but after that it will be as if it never had happened. Just make sure you make every payment on time for any other credit you have, so after the year there will be nothing else affecting you.

If you want to check this out, do a search on google for "How long does a CIFAS Note stay on file". There are a number of references that confirm it only lasts a year.

Answer 2

I'm suprised the loan company did not report you to the police as what you did was commit a criminal offence by supplying false information on a legal document (FRAUD) your CIFAS tag will stay there for 6 years will affect any loan or credit check you go for in the future as it shows the information you have supplied may not be correct.
When i get a CIFAS referral we dot all the I's and cross all T's by calling employer, more id and even higher interest rate to cover risk.

Answer 3

Hi I have had dealings with CIFAS myself which was overall quite positve, their staff were always friendly and helpful and very approachable. My advise would be for you to contact them in the first instance which should be done in writing to the below address. (They are ex directory, you can check out their site at www.cifas.org.uk)

CIFAS
4th Floor - Central House
14 Upper Woburn Place
London
WC1H 0NN
England

If it were me I would explain just as you have done in your question, i probably would not mention the wee white lie bit but would just explain that in your reasoning you had completed your application with the 1st installment in mind and now realise that was incorrect and that you now realise that you should have gone on current circumstances, despite - list your evidence of knowledge of acceptance of your new post from your new employer at the time you made the application (this backs up your mistake but only if you had any evidence at that point). Explain your current position in relation to this new job and offer to forward written proof of this to CIFAS. Then ask them how the issue can be resolved. I think you will find them helpful and at least you will know exactly were you stand in relation to the matter.
As far as I know they can write in return or phone you at your home phone, just put your phone number along with your address so they have the option. Hope this is helpful.

Mel

Answer 4

Sue, sue sue, I hear all of it day long. Why do you think of I force a Mercedes and characteristic residences in numerous places. So a woman has written on your credit rfile, so what? there is no regulation that i understand of that asserts she can't do it. She is doing no longer something unlawful, yet i understand she is busting your chops. have not got mail despatched to the domicile that she has get entry to to, or e-mails, then she can't study them,can she!!. If she intercepts mail on the area which you're actually dwelling at, nicely this could be a diverse rely and that's a criminal offense. My recommend is keep faraway from them till you're divorced. If the courts have decreed which you're owed a number of the fairness from the domicile then insist on being paid or sell it, do no longer sign away your rights to the domicile till you have the money.period in-between as I certainly have pronounced do your conversing with the aid of your criminal expert and keep away out of your better half's mom and her son.

Answer 5

You may be stuck with it. You did lie and they caught you in that lie. Actually, it wasn't a very smart lie since verifying employment would be pretty likely.

You could try putting a note in your file explaining that you used the info for the new job.

Answer 6

1

Answer 7

Nothing bad stays in a credit file for life. The general rule is everything bad goes away after 7 years, except bankruptcies (which can stay for 10).

Answer 8

Cifas Check

Answer 9

Can't help sorry. EX did the same with me, so will be looking at your answers for help.