Dealing with Your Credit Report - Equifax A JOKE!

LWanted77 on 13/07/2021 - 12:06
Last edited 13/07/2021 - 12:30 by 1 other user

So recently I have ran a credit report under my name - as most of us do - I ran this while in the process of applying for a mortgage.

I found that my current address, current employer details were incorrect. Realising that I may be victim of identity theft, I was definitely convinced after I noticed credit enquiries under my name I had not made.

I filed a corrections request with Equifax on my credit report - and gave them a call. Presented them with a simple question - Where is the data of my current address and employment obtained from? the only response I am getting is 'various credit providers' even after escalation to supervisors they are unable to tell me specifically where they are sourcing this data from. I am after specific credit provider names so I can follow up with them individually and correct the information…

Has anyone else had a similar issues? It's RIDICULOUS.

They can't tell me where they are fetching information from on my own credit report!

The corrections team I have lodged the corrections with will simply investigate and fix the issue - however I would like to know which credit providers have incorrect information on my file and how they obtained this - to prevent this from happening again and to prevent identity theft in the future.

Please share your experiences here. The whole process is inefficient.

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Comments

  • Hybroid on 13/07/2021 - 12:17

    This is 'standard' process which does take forever to resolve issues and yes, it's an awful pseudo-monopolistic industry. You can try an alternative credit reporting agency.

  • Baysew on 13/07/2021 - 12:35
    +1

    I noticed credit enquiries under my name I had not made.

    These are probably the source of your trouble, so contact them.

  • Drakesy on 13/07/2021 - 13:03

    Definitely 100% sure it's you and not someone that goes by the same name?

    • netjock on 13/07/2021 - 13:10

      Maybe OP is asking advice on how to steal someone else's identity.

      • Krankite on 13/07/2021 - 14:59

        No way! sounds more like stalking an ex to me

  • Peter Enis on 13/07/2021 - 13:19
    +6

    So recently I have ran a credit report under my name - as most of us do

    Do we? Never done one myself.

  • lgacb08 on 13/07/2021 - 13:35
    +1

    Nah, they won't tell you unless you get a subpoena, otherwise they'll lose their trade secret. Just give them a new details and they'll move on from there. Your request is like asking Banksy to reveal himself to exercise his copyright. Its the nature of the industry that you as a layperson can only do so much

  • DashCam AKA Rolts on 13/07/2021 - 14:01
    -1

    So recently I have ran run a credit report

    FTFY

  • p1 ama on 13/07/2021 - 15:03

    Has anyone else had a similar issues? It's RIDICULOUS.

    How is it ridiculous? Equifax (or any other credit provider) will need to do due diligence. At the moment, there is no evidence that what you are saying is true. They will need to investigate any/all claims and make a judgement based on the facts.

    Why should there be an assumption that what you are saying is correct over the information that they currently have?

    I think your anger is misguided. You seem to be angry that Equifax has wrong information, you should be angry that your identity got stolen…

    They can't tell me where they are fetching information from on my own credit report!

    It comes from a wide variety of sources, but is likely to include banks, NBFI lenders…etc. (you can easily find this out yourself on a broad scale).

    The corrections team I have lodged the corrections with will simply investigate and fix the issue - however I would like to know which credit providers have incorrect information on my file and how they obtained this - to prevent this from happening again and to prevent identity theft in the future.

    Knowing where they source their information from (see my response above) will not help you resolve your issue. If you wish to resolve your issue, you need to:

    (i) Go and file a police report for identity theft and change your affected IDs…etc. accordingly

    (ii) Find out where/why/how that identity theft occurred and make changes to your security and/or behaviour to prevent that from occurring again in the future

    I think your anger/frustration is misguided. Equifax (and co.) simply rely on information they've gained from other financial institutions, whose information is based upon what credit enquiries you have made and what accounts you have open. From my point of view, if KYC protocols have been followed correctly, then none of them are at fault, and no matter how much you annoy them on the phone, it can't stop your identity from continuing to be stolen if you have poor security procedures or are careless (which is likely why you are in this situation in the first place). You need to resolve where/why/how your identity was stolen.

  • dust on 13/07/2021 - 15:10
    -2

    Why did you do this? If you're applying for a loan the bank/lender will do their own assessment of your credit worthiness.

  • Typical16-bitEnjoyer on 13/07/2021 - 15:12

    Huh?

    Did you obtain an Equifax Credit Report or did you use a third party report?

    Your credit report will specifically say which companies have performed credit enquiries. So like….call them?
    If you don't have an actual Credit Report…then like…order one?

  • Almost Banned on 13/07/2021 - 15:34

    Take it up with the OAIC

  • happychild100 on 13/07/2021 - 16:52

    My current issue is Equifax have merged the personal details and credit information of my twin brother and I, so we both currently have the same report with them. I've filed a correction but suspect it's going to be a long and annoying situation. No issues with Experian, only Equifax…

  • mickyb80 on 13/07/2021 - 19:05
    1. if you have a copy of the report, check the date of when the update was made.
    2. look at the date of when an enquiry was made (the agency/listing you mentioned you didn't recognise).
      See if you can work it out from there.

    also, remember, this is only 1 or 3 providers in AU.

  • rektrading on 13/07/2021 - 20:30
    +1

    Another MNC doing their best to keep the big end of town happy by making it as difficult as possible for the have-nots to own property.

  • [Deactivated] on 14/07/2021 - 10:05

    you're not their customer, credit providers are.

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