Are you creditworthy?– A
Guide - 30/09/04
Have I been black listed?
The kids are back to school, you’ve
been on holiday, and just got back to
work to pay off your debts. We hate to
be the ones to tell you but Christmas
is just around the corner and now is the
perfect opportunity to review your creditworthiness.
Even if you have a bad credit track you
could still take advantage of an unsecured
personal loan from the GoBusinessFinance
Marketplace.
No one has an automatic right to credit,
but if you are refused on the basis of
your credit rating you can tackle the
problem.
Most lenders will make a decision on
whether or not to grant you credit on
the basis of information supplied by the
country's two leading credit reference
agencies - Experian
and Equifax.
These two firms compile credit histories
from different sources, including the
electoral roll, county court judgments
and how effectively past debts have been
paid.
Your record will be given negative “score
points” if you have had a high level
of credit checks carried out - everything
from buying a freezer on an interest-free
deal to opening a new credit card will
leave an electronic footprint on your
credit history.
Experian and Equifax do not turn down
your request and neither do they hold
a blacklist of individuals and properties.
There is no such thing! The decision to
refuse credit will be made by the lenders,
based on their own criteria. However,
if you are refused credit you could check
your credit history to make sure no mistakes
have been made.
Both Experian and Equifax offer online
instant credit file and score checking
and will give you a clear indication of
your credit worthiness. Visit www.experian.co.uk
and www.equifax.co.uk
for more your personal credit file.
Written By Simon Johnson
Xbridge
Decision Finance
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