What do the different types of Notice relate to?

What is a Notice of Correction?

Notices of Correction contain no more than 200 words and can explain to prospective lenders any information that may be questioned. A Notice of Correction may be used in scenarios such as:

• To prevent identity fraud.

• To explain ineligibility to register on the Electoral Roll.

A Notice of Correction has both pros and cons, depending on its use. However, they’re becoming heavily devalued because they’re often used for ‘excuses’ rather than ‘corrections’.

The presence of a notice will mean that any application received in your details needs to be manually processed, so it’s important to be aware of its impact before proceeding.

What is a Notice of Dispute?

If a credit reference agency receives a data dispute in your details, it may temporarily add a Notice of Dispute to your credit file. This is a standardised piece of text which usually reads along the lines of:

NOTICE OF DISPUTE - THE INDIVIDUAL CONCERNED HAS DISPUTED THE ACCURACY OF THE INFORMATION REGISTERED AT THIS ADDRESS AND WE HAVE NOW CONTACTED THE SUBSCRIBER CONCERNED. CARE SHOULD THEREFORE BE TAKEN WHEN USING THE DATA AT THIS ADDRESS TO ASSESS THE CREDITWORTHINESS OF THE INDIVIDUAL CONCERNED.

A Notice of Dispute is simply a placeholder to let anyone viewing your credit file know that there is information showing that is being disputed. It will be automatically removed once your dispute has been resolved and the good news is that it has no impact at all on your score while it’s present.