Personal debt, how it affects your Credit Rating in the Uk

What did I do to warrant my apparent bad credit rating?

Every day people have difficulty opening a normal bank account. If you have a bad credit rating that may not be the only thing you may encounter problems with. When attempting to get credit cards, loans, mortgages or even car finance, you may find you are being consistently being turned down.

If, in your past you've defaulted on a previous loan payment, missed a credit card payment, been declared bankrupt or had a county court judgement against you, you will more than likely have a bad credit history. 

Any lenders you apply for credit with will run a credit reference search with one or more of the major credit reference agencies as a matter of course. They hold all your Personal Credit Information on file for the benefit of lenders.

I've heard of the credit blacklist. Does it really exist?

It is simply not true that a so called "blacklist" exists as a sinister way for lenders to decide whether or not to lend you money. People with a poor credit are not held on some central file so that creditors can deny credit applications. This is an old wives tale and you should disregard anything you've heard in respect to this.

If I do have a bad credit rating, are there ways I can get round it?

To find out what credit rating information is being held on file about you, for use by potential lenders, you will need to contact one of the UK's credit reference agencies named below to obtain your credit rating report.

If you have experienced, or are currently going through County Court Judgments, bankruptcy, defaulted accounts or other arrears and debt problems, call us today for the best advice available at no cost.

Call our FREE debt helpline 0800 018 6868

There are credit card, loan and mortgage companies who are more likely to accept applications from people who have a less than perfect credit history or credit rating. There is a lot of advice available on how to clear your existing debts and how to apply for new credit when you have a bad credit history or rating. Let us help you sort through it all and get your life back to normal .

We offer free advice about how to go about repairing your credit rating based on the contents of your credit report and our years of experience.

Who are these credit reference agencies who hold my Personal Credit Information?

In the UK, credit information is held by three main credit reference agencies. To find out more about how to go about obtaining a copy of your credit report you should visit the web sites of these credit reference agencies below. The two main ones, Equifax and Experian both allow you to order your credit reports online:

Callcredit plc
PO Box 491
Leeds
LS3 1WZ
Tel: 0870 060 1414

Experian
Consumer Help Service
PO Box 8000
Nottingham
NG80 7WF
Tel: 0870 241 6212

Equifax Plc
PO Box 1140
Bradford
BD1 5US
Tel: 0870 514 3700

County Court Judgments and records of arrears can sometimes be removed from a credit reference file. But do not be tempted to lie to a court. Never pretend you have not received a Summons if you have. The consequences of lying to a court can be very serious.

Our trained debt counsellors are available to advise you now! We are able to tailor a bespoke debt solution for you based on years of valuable personal debt experience.

Either call our FREE debt helpline 0800 018 6868 or submit your details online and one of our trained debt advisors will call you back at when it suits you.

This is a free, no obligation, confidential service and no sales person will call.