Credit Rating

How can you contest a default on your credit file?

If you’ve had a default placed on your credit file it can affect your financial situation in a number of ways. The drop in credit rating makes it more difficult to obtain borrowing, and in some case...

The difference between ‘settled’ and ‘satisfied’ in a credit report

When you look at your credit report, you’ll see various status codes marked against individual loans and other borrowing. These indicate the extent to which you’ve repaid your creditors, whether t...

Can my debt affect the credit rating of those I live with?

If you’re worried about the effect that your debt might have on the people you live with, it’s worth knowing that credit files are independent of each other unless there is, or has been in the pas...

How the Rental Exchange scheme can help improve credit ratings

The Rental Exchange scheme is a new initiative which allows tenants to have their monthly rental payment recorded on their credit file.

I need a personal loan but have a poor credit score, can a credit union help me?

Credit unions in Scotland provide services to more than 250,000 people and one in 20 Scottish residents are members.

Can a default be removed from your credit file?

When lenders decide whether or not to offer you a loan, it is the information held on your credit file that forms the basis of their decision. This information also helps to combat fraud, as your iden...

10 steps to take now to improve your credit rating

If you are currently working on reducing the amount of debt you have, improving your credit score may not be at the top of your agenda.

How can I build my personal credit score?

Your personal credit score plays an important part in securing new loans and credit, and can affect your financial life for better or worse. Lenders use the information in your credit file to determin...

How to restore credit rating after Scottish debt programme satisfied

A debt payment programme (DPP) remains on your credit file for six years, along with other default markers and court judgments that have been made against you. This can seriously affect your ability t...

Why do I need a good credit score?

A good credit score opens up financial opportunities, such as the ability to buy things with borrowed money that's paid back over time. Find out more here.

How to check your credit score for free

Knowing your credit score and keeping a regular eye on your credit file can prove incredibly beneficial if you wish to apply for a mortgage, credit card, loan or other type of credit. By checking your...

In what situations can a bad credit rating affect you?

Your credit file is an important source of information for lenders and other financial institutions, and a bad credit rating can affect your life in a number of ways. Given that a default remains on y...