Published by: TransUnion International UK Limited
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Key Takeaways
TransUnion’s credit file consolidates diverse data types including financial accounts, electoral register info, judgments, bankruptcies, and fraud markers, underpinning comprehensive credit assessments.
The information on credit reports can differ across agencies (TransUnion, Equifax, Experian) due to varied data sources, contributor memberships, and timing of record updates.
SHARE and MODA are primary datasets used by lenders; SHARE provides monthly financial account data, while MODA offers real-time updates, enhancing decision agility.
Defaults, account statuses, and payment codes provide granular insights into credit performance, with default recording typically after three to six months of arrears.
Legal commitments such as judgments, IVA, bankruptcy orders, and debt relief orders are retained on credit files for six years, affecting creditworthiness assessments.
The electoral r...
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