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Finance

Former MemberFormer Member Posts: 1,876,324 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?

Comments

  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    if you've had 2 letters from debt collectors this year, wouldnt it be better to save the money to buy what it is you want rather than be in more debt?
  • Former MemberFormer Member Posts: 1,876,324 The Mix Honorary Guru
    It depends who the debt collectors were, and what they were chasing. I've got enough "debt collectors" letters to wallpaper my house with, but that's just nPower and BT trying to harrass me into paying them the money straight away. It isn't registered as a default with the main credit reference agencies so my credit history is unscathed.

    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.
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