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Finance
Former Member
Posts: 1,876,323 The Mix Honorary Guru
I was thinking about buying something on finance and wondering what kinda questions they will ask me in store. I've had 2 letters from debt collecters this year, will this effect chances of finance?
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Comments
They will not ask you very much, really- they only ask enough information to run a check through one of the main credit reference agencies. It's them who check your history with them to see if you're suitable for credit. There is no such thing as a credit rating- all it is is one lender checking with a credit reference agency against criteria the lender sets. One lender's criteria will see you "fail", another's will see you pass with flying colours.
If you are having debt problems due to credit, though, the last thing you should be doing is taking out more credit.