Do you Qualify?

Credit rating

The importance of your personal credit rating

We hear a lot these days about credit ratings, and how they can affect your ability to maintain financial health. If you’re struggling to cope with debts that you can’t seem to reduce, the chances are your credit rating will be on the decline. This may not seem so important when you’re focussing on trying to juggle your commitments, but in the long run they can have a major effect on your future recovery.

 

In simple terms, your credit rating is a tool used by banks, loan providers, credit card companies and others to decide whether you’re suitable for financial products such as credit cards, loans and even bank accounts, mobile phone contracts and car insurance. Therefore, if you’re thinking about a debt programme such as a Debt Management Plan (DMP) you need to give some thought to improving your credit rating after the plan comes to an end.

 

Your credit rating acts as a way for credit providers to assess your suitability. Keeping your rating healthy after going through an Individual Voluntary Agreement (IVA), for example, will improve your score month by month. When a plan like this ends, the relief you feel can give you a new lease of life, and you can prolong this feel-good factor by doing all you can to improve your credit rating.

 

There are a number of ways to do this. They include applying for and using very small and very manageable amounts of credit, and making on-time payments throughout. This isn’t for everyone, of course, especially those who would prefer to avoid all forms of credit from now on.

 

How about a credit-free future?

A good alternative may just be to live without credit from then on. Coming to the end of a Debt Relief Order (DRO), a sequestration or a Trust Deed can give you a wonderful feeling of achievement, knowing that you can now start again with what seems like a new beginning. Putting the bad old days of demanding letters and phone calls into he past is truly invigorating.

 

It’s worth noting that repairing your credit score can take a long time, so be patient during this process. As an example, an IVA will stay on your record and affect your rating for six years in most cases, and during that time your credit rating won’t be able to show much of an improvement. In most cases, it took a long time to build up those debts, so it could take a long time to effect a full repair.

 

As always, our friendly and knowledgeable team are on hand to bring you the support you need. We can advise you on all the debt management plans that may be suitable for you, and as time goes by we can highlight ways to help you improve your credit rating. One call to 0141 380 0578 is all you need to start the ball rolling, so why not get in touch today?

Do you Qualify?






DEBTS?

Sign up to our Newsletter

I have read and agree to the terms & conditions
© 2020 Web Design by: Purple Imp

Hi, Paul Here. Don’t worry, this won’t take long.

By the time we’re finished you’ll know if there is a solution to help you with your debt.

Lets start with your name

Please enter your name:

Thank you .

If you were to estimate your debt level, how much would you say you roughly owe?

Choose your amount of Debt:




Next

OK , so your looking for a solution for around £.

Before we continue, I need to check that you agree to our Privacy Policy ?

Do you agree?

Great thank you for agreeing.

Just to make you aware, our service is completely free of charge, from information you supply we can advise you on possible solutions in which you can make your own informed decision.

Some of the options we will make you aware of could allow you to write off a large proportion of the debt you owe, so you’ve come to the right place.

How many creditors do you owe money to?

Number of creditors

Next

Thanks

What kind of creditors do you have?

Types of creditors:
Hold Ctrl to select multiple

Next

I really appreciate you giving me this information – it will help in finding you the right solution

How much roughly do you pay towards your debt at the moment?

Employment status:

Next

Thanks. Don't worry, we are nearly finished.

, what part of the country do you live in?

Country:

Next

Well, the good news is there is solutions available for you!

Can I have your email address?

Email Address:

Thanks

And the best phone number to contact you on?

Contact details: