A SHEFFIELD man whose business helps people who have bad credit ratings through no fault of their own, says demand for his services is growing as lenders become more cautious in the current economic climate.
Accountant Robert Anderson launched Xpedient Finance 12 months ago after a mistake on his credit file led to him being blacklisted by lenders.
The first thing the 33-year-old knew about his problem was when lenders rejected his application for a loan for his accountancy firm.
After investigating, he found he could be unable to get credit for six years because two mobile phone companies claimed he had defaulted on contracts.
It took more than 10 months for Mr Anderson to get the mistake rectified and to win more than £6,000 in compensation from the two national companies. It was then he decided he wanted to help others in his situation.
Robert Anderson said: “It was a huge shock to find out I had such bad credit rating.
“I did a lot of research on the internet at the time to look for companies who could give me advice but found nothing. That’s when I realised I wanted to turn my negative experience into something positive and help others who are going through what I have been through.”
Mr Anderson still runs his own accountancy business, but also runs Xpedient, which employs three part time members of staff and has won praise from the Financial Times.
Now he is planning to expand his business with the help of Dave Robinson from Sheffield Enterprise Agency, who has provided him with advice since soon after the two were brought together by Sheffield City Council’s Enterprise Programme.
“Research shows that approximately 70 per cent of people have errors on their credit file, which really is a shocking statistic,” said Mr Anderson.
“As a company we are calling out to the consumer and small business directors to regularly check their credit files as errors can and do frequently happen. People often give up easily when it comes to bad credit and stonewalling means people are reluctant to take things further. We aim to do this for them and take the stress and worry out of the whole process.”
Dave Robinson said: “Robert has used his own negative experience to try to help others, which is commendable. We believe that Robert has developed a service for which there will be increasing demand and we hope to see his new venture continue to grow.
“We are working hard to develop existing businesses in the city to ensure the growth of the economy and, with people like Robert being committed seeing their business succeed, we hope to achieve this.”