Equifax: Demand for credit reports up by 9.6%

Equifax has reported an increase of nearly 10% in requests for its credit reports for the first quarter of 2009, compared with the same period in 2008.

Neil Munroe, External Affairs Director for Equifax, said: "Consumers who are declined a loan or credit application are getting a copy of their credit report to find out more about the information being used by lenders as part of the decision process."

He went on to say that: "It really is worth getting a copy ahead of making a new credit application, especially if it is for something as significant as a new mortgage or loan for home improvements or perhaps a new car."

A debt management expert for Gregory Pennington commented: "It is important that people are fully aware of where they stand in relation to their debts. By getting a copy of their credit report, they can see how the way they`ve dealt with debts in the past may be preventing them from obtaining credit today."

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