A defaulted notice is a formal letter informing an individual of how much must be paid, and by when, to bring a credit account up to date. After a consumer misses between approximately three and six payments, the creditor typically issues a default notice. The individual is then provided 14 days or more to pay … Read more
As soon as many people pay off their debt, they look for new credit. Experts caution against overspending, especially for consumers who have recently gotten out of debt. The last thing a former debtor needs is to get back into a negative financial situation. However, for debtors who have learned their lesson, credit opens the … Read more
Whether consumers do not stay on top of their finances or just moved back after temporarily living outside of the UK, they may wonder if they have any UK debts. Contacting current creditors to find out existing balances may not be enough. Some debts may have been accumulated years ago and are past the point … Read more
When people discuss a debt management plan (DMP) with a professional, they often ask how their credit rating will be affected. Many consumers wait a long time to get debt advice because they do not want to lower their credit rating. The truth is that if a DMP has become a consideration, credit rating should … Read more