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Poor Credit “” Epidemic”” Puts Countless Aiming House Owners At Threat

October 27, 2016 - Author: Bradley - Comments are closed

Of those under 25, 12% admit to missing out on a regular monthly phone bill, 11% state theyve missed a credit payment, while 10% have actually fallen into unauthorised overdraft.

Worryingly, a 3rd of people in this age category claimed that they were uninformed that having no credit report at all could affect their possibilities of getting a mortgage.

Industry research study claims half of UK adults are likely to be declined credit at some point. Poor credit ratings are not confined to lower earners either, with those earning more than pound; 60,000 a year balancing even worse scores than those earning between pound; 10,000 and pound; 60,000.

Glen Crawford, CEO at Amigo Loans, stated: When it concerns utilizing credit, from the get go, borrowers requirehave to be mindfulunderstand that keeping up a great credit scorecredit rating is absolutely crucial to protecting a healthy monetary future. Its easy when youre just startingbeginning to slip-up on credit card payments or falling behind with paying costs but these common mistakes can cost you in the future.

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