Your Credit Rating
Credit reference agencies collate information
on an applicant's financial position from
the electoral roll, county court judgements,
bankruptcy details, payment record in previous
agreements etc. The payment record may include
details of other people living at the same
address and their record may affect whether
or not the applicant is given credit. If
you have had your application for credit
refused because of information on a credit
reference agency's records you can ask the
creditor which credit reference agency it
used.
You can get a copy of your own credit
reference by writing to these two companies
with details of your address/es for the
last six years enclosing a cheque for £2.
Included with your credit file will be details
of how it can be amended if the information
is incorrect. Each piece of credit information
remains on your file for 6 years.
You can also view your Experian
credit report online for FREE, click here  |
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| Our debt expert, Wally Stone has over 20 years experience
in dealing with personal debt. |
| County
Court Judgments |
If you fail to pay a creditor and
don’t reply to their reminders there are several
things that they can do.
If it is a secured debt for example, a hire purchase
agreement they can repossess the goods without going
to court if you have paid less than one third of the
total sum. You will still have to pay the majority of
the balance.[More..] |
| Bailiff
harassment |
Harassment of people in debt by creditors
or their agents is a criminal offence under the Administration
of Justice Act 1970.
It is often difficult to know what to do when you feel
a creditor is not dealing with your account fairly. In
order for you to identify what activities by your creditors
may involve harassment and what can be done about the
problem, this article outlines: [More..]
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| Credit
Cards |
| For a great many of us the money runs
out before the month does and then the temptation to use
our credit cards to pay the bills kicks in. This is the
beginning of the debt spiral and just what the credit
card companies are counting on:. [More..]
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According to a recent statement from the Citizens Advice
Bureau, it could take 77 years on average for people asking
for help with debt to get back into the black.
Britain's personal debt is increasing by £1 million
every four minutes. |
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