QUESTIONS AND ANSWERS

Get your FREE Experian credit report and score!*

CreditExpert Logo

  • Free Experian credit report*
  • Free Experian Credit Score*
  • Free email and text alerts
  • Dedicated UK based call centre

Checking your Experian credit report will not lower your score!

If you are a Credit Expert customer you can contact the customer services team with any questions specific to your credit report.

Please log in to your account and go to the contact us page to contact the member support team.

* Monthly fee applies after trial, new customers only. You may cancel your trial anytime during the 30-day trial period without charge. Free trial period starts on registration – further ID verification may be required to access the full service which may take up to 5 days.

Explore our Help Centre

Our credit report centre is full of information on what 's in your credit report and how to improve your credit rating.

Find out how to protect yourself from identity fraud and what to do if you're a victim.

If I agree to be a guarantor could my creditworthiness be affected?

 

Dear James,

I have been asked to be a guarantor for a family member. I'm sure they will make their payments. My question is does the loan amount show on my credit file and does it count as my debt and will it effect my chances of applying for credit? Is this debt (although not mine unless payment is failed) taken into consideration when lenders decide if to lend me money.

Anna, London

 

Dear Anna,

When you guarantee a credit agreement you are taking on a degree of responsibility for the debt, but not in quite the same way as entering a joint credit agreement. While the terms and conditions of guarantor agreements can vary, we wouldn’t expect to see a record of the agreement on the guarantor’s credit report (as would be the case with a joint account), unless of course the agreement defaulted. In that case, you may well see a default registered on your credit report too and, if payment was still not forthcoming, perhaps a county court judgment as well. So, as long as the family member pays the agreement on time every month – which I’m sure they will! – the debt will not show on your credit report and should, as a result, have no bearing on your own credit rating.

 

James Sign

  • © 2014 Experian. All rights reserved