Improve credit rating

Once you default on repayments of a loan, credit card or other form of debt, the chances are that your credit rating will be damaged. Even missing a single payment may cause an adverse record to be made that can make it more difficult for you to obtain credit in the future. Continue reading

Debt Management to IVA

There are a huge number of people in Debt Management Plans in the UK. Many of them have varied circumstances as to why they are in Debt Management over other solutions. Some may be solvent but to pay off their debts in full in accordance with the terms on which they borrowed the money in the first place they would have to dispose of some of their assets such as a house, and many of them are not prepared to do this. Continue reading

Improving your credit rating

Who Keeps Credit Scores?

In the UK there are three main Credit Reference Agencies which get their information from lenders with the permission of the borrowers who, when they sign up to a loan agreement, consent to this type of information being disclosed. Of course, if consent is withheld, the lender may not pass on details of the borrower’s agreement. Continue reading

Dealing with Bad Credit

You begin to get a bad credit rating when you fail to repay borrowings in accordance with the agreed terms and conditions. If you don’t make your repayments on full and on time, the price you pay is deterioration of your credit worthiness or to put it another way you acquire a reputation for ‘bad credit’. Continue reading