gritech:

What is a Notice of Correction?

This is a 200 word statement that you can add to your credit file, to explain any entry on it. If you add a Notice of Correction to your credit file any organisation accessing your credit file through Callcredit will have access to your Notice of Correction. Please bear in mind that if you add a Notice of Correction to your credit file, lenders searching our database for information we hold about you are obliged under the Guide to Credit Scoring to read your Notice of Correction. This may slow down their decision of whether to offer you the product/service you have applied for.

A Notice of Correction cannot be longer than 200 words long. Any statement we believe to be defamatory, libellous, incorrect or frivolous may be referred to the Information Commissioner for arbitration.

This is from Call Credits website please see underlined. So lenders should read the correction notice.

Cheers

G

This I received recently from Experian

A Notice of Correction on credit report means any application for credit is "referred out" of an automated credit-decision-making system so that a person can look at it. As a result, you won't get instant credit, online, by phone or in a store.

When you make an application for credit facilities, your application will usually be assessed by an automated scoring process i.e. no human intervention will be involved. When a Notice of Correction is attached to your report, this process changes as a lender is obliged to read a Notice of Correction that is attached to your credit report, however they are not obliged to take this statement into consideration.

Adding a Notice of Correction to your report allows a human being to manually assess your credit worthiness with the knowledge of any reasons behind adverse information appearing on your credit report, for example.

While adding a Notice of Correction will not necessarily improve your score, it may help in your credit applications. Although Experian were unable to comment whether it will result in successful applications.