I need to open a business bank account to be paid as a contractor – but there are queries over my credit rating
After I was made redundant at the end of 2012 I found some contract work with a local business. One of the conditions was that I set myself up as a limited company with a business bank account.
I contacted Smile, my personal bank of around 10 years, and it referred me to its sister company, the Cooperative Bank. I was eventually told that the Cooperative had declined my application and I was referred to the credit reference agency Experian. This showed that my credit rating was excellent. This is causing me significant problems as I cannot get paid until I have a bank account. PM, Nottingham
The mere fact you'd written to The Observer seemed to energise the Cooperative. After you mentioned your letter it was suddenly discovered that the blot on your credit rating (a default you have successfully contested) was recorded by Equifax, not Experian, so you were sent to the wrong place.
Although most lenders share information with all three credit reference agencies, some only work with one, which is why it's important to check your records with each of them. The bank has confirmed that your account is now up and running.
If you need help email Anna Tims at your.problems@observer.co.uk or write to Your Problems, The Observer, Kings Place, 90 York Way, London N1 9GU. Include an address and phone number. Unfortunately, Anna is not able to respond to letters individually.
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