Registering to vote helps loan applications
Oct 13, 2006
Consumers should make sure that they are registered to vote for the best chances of getting a personal loan, it has been claimed.
Credit reference agency Experian warned that those eligible to vote have until next Tuesday, October 10th, to ensure that their details are correct on the electoral register. Some organisations will refuse to grant credit, such as personal loans, to those whose credit report shows they are not registered to vote at their current address, said a director at Experian.
Credit providers often use the electoral register to help check that an applicant's name and address is correct. However, if you are not registered to vote and are refused credit, you can explain that you have just moved and documents such as council tax bills, utility bills and driving licences are often accepted, she continued.
Those who aren't eligible to vote can usually add a note of explanation to their credit file. Electoral forms are delivered to UK households between August and November, which should be returned detailing everyone living at the address who is eligible to register
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