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Credit Crossroads guides (credit reports)

When it's well managed credit can be a really useful thing but life events can have an impact on an individuals ability to borrow or their ability to borrow credit affordably. Banks and other lenders use an individuals credit report to decide whether to lend to them or not and at what price so it's crucial to understand your report and how life events can impact on it. 

Experian, the UK's largest credit report agency has produced 'Credit Crossroads' guides that are aimed at helping consumers look after their credit report during different life events by giving clear information and advice on how to stay on top of your finances.

Experian has addressed the following 'Credit Crossroads':

Refused credit

Living together

Students and young people

Relationship breakdown

Moving home

Redundancy or reduction of income

Bereavement or serious illness

Credit Action recommends that everyone should have a look at their credit report as it's such a crucial document when it comes to accessing credit or understanding why you might be being turned down for credit. You generally have to pay to view your report but you can get it for free on a 30 day trial available at www.creditexpert.co.uk.

 

 

 

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anonymous
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Re: Credit Crossroads guides (credit reports)
Sat November 28, 2009, 12:02:53

I work as a refuge support worker with victims of Domestic Violence and i can confirm that it very rare that we admit people to the refuge who do not have excessive debt. Financial abuse is a very common aspect of Domestic Violence and depending on your area there will be drop in centres or specific outreach services that are able to help adress debt that has arisen due to Domestic Violence.
Hope this helps :-)

Eleanor Donnelly
Comment
domestic violence and debt
Tue April 07, 2009, 18:02:34

I looked at your website and read the credit crossroads. I do not believe that this addresses all the reasons for debt. I was a victim of domestic abuse for 8 years and to keep the piece I would spend money on my ex-partner to keep the piece and prevent myself from getting battered as much as possible. People may say its my own fault but they get you to believe you're nothing without them. I can't believe that no-one else has got into debt because of this. I would like to know more people who have got in the same situation where their credit rating is shot to pieces because of this