AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Raise the error with the credit reference agency showing it and with the lender that supplied the data. The ICO says an agency cannot change a lender's information without the lender's agreement, though the lender can correct it directly; Experian usually adds a dispute note while it checks. If the entry is accurate but has context, a Notice of Correction of up to 200 words lets you explain. If you are still unhappy, you can complain to the ICO.
A wrong address, an account you never opened, a payment marked late when it was not: errors on a credit file are fixable, but only through the right people. Newcomers have an extra reason to act quickly, because on a thin file one bad entry carries a lot of weight.
Step 1: get all three reports
The UK has three main agencies, Equifax, Experian and TransUnion, and the ICO says lenders are not required to report to all three. An error may sit on one file only. Each agency must give you a free statutory report: Equifax through a free Equifax Basic account or by post, Experian and TransUnion through request forms online or by post. See the three agencies compared.
Step 2: identify the type of error
| Error | Usually raised with | Notes |
|---|---|---|
| Wrong name, address or date of birth | The agency, and the organisation that supplied it | Check your electoral registration too |
| Account you do not recognise | The lender named, and the agency | May be fraud; see step 5 |
| Late payment you dispute | The lender first | Have bank statements showing the payment |
| Debt already settled still showing as unpaid | The lender or collector | Ask them to update the status |
| Search you did not authorise | The company that searched | Experian says an unrecognised hard search could indicate fraud |
Step 3: raise it with the agency and the lender
The ICO's guidance is that you can raise inaccuracies with the credit reference agency and with the original lender. An agency cannot amend a lender's data without the lender's permission, but the lender can update its records directly, which then flow to the agencies it reports to. In practice:
- Contact the lender in writing, say exactly which entry is wrong and why, and attach evidence such as statements or a settlement letter.
- At the same time, raise a dispute with each agency showing the error. Experian says it can raise a dispute with the company for you, and it usually adds a dispute note to the entry while it checks.
- Keep copies and dates of everything you send.
Experian says it can only change or remove information if the company that supplied it agrees. If the company disagrees, take it up with that company directly through its complaints process.
Step 4: if the entry is accurate but unfair
Sometimes the entry is correct: you did miss payments, but because of a job loss, illness or a relationship breakdown. A Notice of Correction lets you explain. Experian says it must be no longer than 200 words, clear and concise, not defamatory, and should preferably not name an organisation. Lenders see it and should take it into account, though reading it adds time to applications. It does not change your score, and it does not correct an error. You need to add it separately with each agency that shows the entry.
Example notice (illustrative)
Step 5: fraud markers and Cifas
If the error is an account you never opened, treat it as possible identity fraud. Separately, some people find a fraud marker filed by an organisation with Cifas, the UK fraud prevention service. Cifas says you can request your data free, with a response within one calendar month; records are kept for six years. To dispute a Cifas entry you contact the organisation that filed it first, then use Cifas's independent review through its complaints form.
What to check first
- Is the entry wrong, or right but unwelcome? The first is a dispute; the second may suit a Notice of Correction.
- Which agencies show it? Fix it on each.
- Do you have evidence: statements, receipts, settlement letters, emails?
- Is the lender's contact address for disputes on its letters or website? Use that rather than a general inbox.
Step 6: escalate
The ICO says that if the agency or lender does not resolve the issue, you can complain to the ICO. Experian also says that if it cannot agree wording for a Notice of Correction with you, it can ask the ICO to review it.
Where Pryme fits
Clear payment records make disputes faster. If the disputed payment was one you made to a Nigerian lender or supplier, a verifiable receipt from VerifyDoc.ai gives the other side something it can check is unaltered. For building a clean UK file from the start, see building a UK score from zero and name order and credit checks.
Questions people ask
How do I dispute something on my UK credit report?
Raise it with the agency showing it and with the lender that reported it. The ICO says the agency cannot change lender data without permission, but the lender can correct it directly.
How long can a Notice of Correction be?
Experian says no longer than 200 words. It adds context to an accurate entry; it does not correct an error.
Can a credit reference agency remove a wrong entry itself?
Experian says it can only change or remove information if the company that supplied it agrees. It usually adds a dispute note while it checks.
Who do I complain to if my credit report is not fixed?
The ICO says you can complain to it if the agency or lender does not resolve the problem.
Sources
- ICO: Credit (your rights with credit reference agencies) · accessed Oct 2026
- Experian: Notice of Correction · accessed Oct 2026
- Experian: How to improve your credit score · accessed Oct 2026
- Experian: Searches and credit checks · accessed Oct 2026
- Cifas: Information for individuals · accessed Oct 2026
- TransUnion UK: Statutory credit report · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.