Every time we take out a loan, use an overdraught, use a credit card, pay a bill or buy on interest free credit, we are scored by credit ratings agencies.
This can greatly effect your chances of securing loans and credit in the future, and most important of all effect your chances of getting a mortgage. If you have a bad credit rating, here are a couple of tips to start the healing process.
| Top Tip: |
| Find out your current credit rating. This is available from two companies, Experian and Equifax. You only need to contact one as they share your information. Go through the details and correct any mistakes like address errors, personal information errors or bank details by writing to them. |
This simple process lets the credit agencies know you are aware of your details and the system, and puts you in a position of knowledge for you to start working your way back into a good credit rating.