Credit reference agencies hold a record of most credit agreements applied for or taken out.
There is actually no such thing as a blacklist of people that lenders will automatically refuse to lend to.
Credit defaults or county court judgments registered on your credit file.
Credit scoring works by allotting points for certain criteria. For example you may get some points for being registered on the electoral roll. The more points you have been allotted, the more likely
it is that the credit provider will lend to you
Every credit account includes a status history that shows how payments were made.
Your bankruptcy will be registered with credit reference agencies.
How long does information stay on my credit report
If you have a bankruptcy, credit default or county court judgment registered on your credit file, it will usually remain there for six years, after which it should be removed from your credit file
automatically.
Limitation period
The Limitations Act 1980 gives creditors a maximum amount of time to start legal proceedings after the last payment or written acknowledgement (note or letter) from the debtor. For most debts, this
is six years, or 12 years for mortgages.
What Factors Affect a Score?
Many different formulas are used to calculate credit scores, but most are based on the following factors, which each lender weighs differently:
Payment history - A record of late payments on your current and past credit accounts may lower your score.
Public records - Matters of public record such as bankruptcies, judgments, and collection items may lower your score.
Amount owed - Owing too much may lower your score, especially if you're approaching your total credit limit.
Length of credit history - In general, a longer credit history is better.
New accounts - Opening multiple new accounts in a short period of time may lower your score.
Searches - Whenever someone else gets your full credit report . a bank, mobile phone company, or other financial services company, for example a search is recorded on your credit
report. A large number of recent searches may lower your score.
Accounts in use - The presence of too many open accounts can lower your score, whether you're using the accounts or not.