What Is a PCD Asset/Credit Report?
A PCD (Personal Credit Data) Asset Report is based upon a subject's personal credit file. This specialist service provides detailed financial intelligence from Credit Reference Agency data, offering insight into an individual's credit activity, financial commitments, and asset base.
Important: Limited Availability
This service is only available in specific circumstances:
- Fraud investigations where a commercial fraud has been reported to UK Police and/or Action Fraud, and civil action is contemplated or underway
- Insolvency practitioners (or their representatives) investigating bankrupts or directors of insolvent companies
This service will not be completed for matrimonial cases.
What Will the Report Show?
While we cannot guarantee the information contained in any report (and if there is a discrepancy, it is not open to cross-examination), generally a PCD report should show:
- UK Mortgages - Account provider, account type, start date, current status, payment terms (e.g., £1,250 x 299 months), starting balance and current balance
- Loans - Personal loans with balances and repayment status
- Credit Cards - Type of card (Credit, Charge, or Store card), start date, status, starting balance, current balance, and credit limits
- Bank Accounts - Account existence (note: shows £0 if in positive balance; only shows amount if overdrawn)
- Hire Purchase Agreements - Vehicle finance and other HP commitments
- Mobile Phone Contracts - Telecommunications accounts
- Utility Accounts - Gas, electric, and other utility credit agreements
- County Court Judgments (CCJs) - Any registered judgments
- Notices of Correction - Subject's explanatory statements on their credit file
- Previous Credit Searches - Number of searches conducted, which can indicate whether the subject is actively seeking to raise funds
- Linked Addresses - Addresses connected via Electoral Roll and financial activity
Please note: The report will not reveal "private" bank accounts such as those held with Schroders, Coutts, or similar private banking institutions. Not all Credit Reference Agencies contain all financial activity, as some creditors do not share their information with all three CRAs. Even if you know about an account, it may not appear on the report.
Understanding Bank Account Information
A common question is whether the report will show how much money the subject has in the bank. The answer is:
- If the bank account is in a positive balance, the report will only show £0
- If the account is overdrawn, it will show the level of the overdraft (e.g., -£542)
This is because credit file data captures credit exposure and adverse information, not savings or positive balances.
What Is a Notice of Correction?
A Notice of Correction is a short statement (usually no more than 200 words) that a data subject can add to individual items on their credit report. It typically explains circumstances surrounding a debt or adverse entry, providing context such as why a payment was missed and why this is not reflective of their general approach to meeting repayments.
These notices can be helpful in understanding the subject's own description of events surrounding certain adverse financial events.
What If the Subject Is Bankrupt?
If the person is bankrupt, the report will typically show little or no information. We do not generally recommend applying for a PCD report in these circumstances, although some clients have used them to satisfy themselves that no information is being held. This remains a choice for you or your client to make.
When Can I Request a PCD Report?
A PCD report can only be requested in the following circumstances:
1. Fraud Investigations
Where a commercial fraud has been committed and reported to UK Police and/or Action Fraud, and the victim is contemplating or has taken civil action against the fraudster. The PCD report can be used to establish whether the fraudster has any assets (relevant to Proceeds of Crime considerations).
Required: Police or Action Fraud case reference number and a brief summary of the case.
2. Insolvency Investigations
On behalf of an Insolvency Practitioner (or their representative) when investigating the assets of a bankrupt individual, or a director of an insolvent company who has acted improperly and/or where the directors are held personally liable for any loss.
Required: Notice of the practitioner's appointment and the subject's details.
In 99.9% of circumstances, a PCD report will not be completed for matrimonial cases.
How to Request a Report
To request a PCD report, you will need to provide:
- For fraud cases:
- Police or Action Fraud case reference number
- Brief summary of the case
- Subject's full name
- Subject's date of birth
- Current address and any linked addresses
- Known company directorships
- For insolvency cases:
- Notice of the practitioner's appointment
- Subject's full name
- Subject's date of birth
- Last known address(es)
Important: It is vital to provide all known addresses, as this helps the data provider and CRA provide all available data on the subject. If linked addresses are not provided, the report may not be complete. Please ask if you wish us to complete a linked address search on your behalf.
How It Works
The data provider is QV, who obtain the information from a Credit Reference Agency. Palatine acts as the "gatekeeper" in the process:
- You submit your request to us with the required documentation
- We verify eligibility and submit to the data provider
- You are invoiced (payable on receipt)
- The report is sent directly to you by email from the data provider
Note: We do not see the report as it is sent directly to you by the data provider.
Can the Report Be Used in Court?
Yes. The report is discreet but compliant (within the search criteria scenarios outlined above) and can be produced in court proceedings.
Does It Leave a Footprint?
No. The data subject's credit file is not marked, and their credit score is not affected by this search.
Frequently Asked Questions
Pricing is on application. Please contact us for a quote by calling 0151 929 7900 or emailing us. If you have an account with us, your account manager may have already agreed preferential pricing which will be displayed when you log in.
No. In 99.9% of circumstances, PCD reports will not be completed for matrimonial cases. This service is strictly limited to fraud investigations (with police reference) and insolvency matters.
Turnaround times vary depending on the complexity of the case and the completeness of the information provided. We will advise on expected timescales when you submit your request.
Not all creditors share their information with all three Credit Reference Agencies. Even if you know about a particular account, it may not appear on the report if the creditor does not report to the CRA used. Additionally, "private" bank accounts (such as those with Coutts or Schroders) will not appear.
For fraud cases, you must have reported the fraud to UK Police and/or Action Fraud and have a case reference number before we can process a PCD request. If you are still in the process of reporting, please contact us once you have received your reference number.
No. This search does not leave a footprint on the subject's credit file and does not affect their credit score. The search is discreet and compliant within the permitted use cases.
Yes. If you do not have all linked addresses for the subject, we can complete a linked address search on your behalf before submitting the PCD request. This helps ensure the report is as complete as possible. Please indicate this requirement when you submit your instruction.
Our standard Asset Trace uses Land Registry, Companies House, and other public data sources without accessing credit files. A PCD report accesses Credit Reference Agency data directly, providing different and more detailed financial information including credit card balances, loan details, and payment history. However, the PCD service has stricter eligibility criteria.
Need a PCD Asset Report?
Contact us to discuss your requirements and confirm eligibility. We're here to help with fraud investigations and insolvency matters.