Credit scoring is an automated technique used by lenders to help them decide whether or not to lend. The information included on your credit report, together with the information you provide on an application form to a shop or lender, can be used to calculate a credit score. This helps the company identify the risk in offering you credit and helps them to lend responsibly. Credit scores do not take account of gender, religion or race.

No. You do not have a single credit score. Different companies take different information into consideration in credit scoring and may have different scores for different products. Lenders do not have to tell you exactly how credit scores are calculated, but should give you a basic explanation of how scoring works.

Not necessarily. Different companies take different factors into account when deciding whether to lend. One company may refuse you a loan while another company may accept an application from you. If you are declined we would always recommend that you request a copy of your report before you make further applications.

No. Credit reference agencies do not hold blacklists. They provide factual information about people but do not offer opinions about whether you are likely to repay credit. Lenders make their own decisions using all the information they have available to them.

No. From 1 November 2004, lenders no longer see information about other members of your family at your address when making a lending decision. But they will continue to see financial information about people you share a financial connection with such as a joint mortgage/loan etc

A credit report will only show you your own credit information. The report will no longer include anyone else’s credit information. This includes people you share a financial arrangement with, although lenders will continue to see their information.

Searches are included on your report so that you know who has looked at your information. They are made available to lenders so that they can see if there has been any unusual activity in the past 12 months, for example, a large amount of applications for credit. Making searches available to lenders also helps prevent fraud.

Debt consolidation is the process in which debt is restructured into one low affordable amount which you agree to pay. At DebtFC we offer a range of debt consolidation options Scottish protected trust deed, individual voluntary arrangement (I.V.A), remortgage, debt management plan, homeowner loan, sell and rent back or perhaps bankruptcy (sequestration in Scotland) our experienced debt consolidation team, will discuss your options and provide you with free debt help and debt advice on how to deal with your debt problems. We are based in Livingston, West Lothian, Scotland but help people throughout the UK.

If you recognise any of the following symptoms... then you need our debt help!

Credit card debts, missed loan repayments, creditors phoning, debt collectors, bailiffs, County Court judgements, bankruptcy, insolvency, mortgage arrears, repossession, robbing Peter to pay Paul, not opening the mail, afraid to open the door.
Our debt consolidation team will show you the options that you have available to get out of debt with one reduced, affordable monthly payment. For a NO OBLIGATION, FREE CONSULTATION, call or send the contact form for some friendly, free advice.