Back in 2014, the turbulent reality of the largest payday lender in the UK, Wonga, unravelled. Following the unethical practices of promoting their product resulted in an increased number of complaints by payday borrowers that led the FCA to crack down on the lender by capping the interest rate at 0.8% per day. Payday lenders …
Continue reading “5 Things That Payday Lenders Will Never Tell You”
Taking charge of your finances can seem challenging when you’re under 25. The decisions you make now, however, will shape your financial future. Making good choices early can lead to a steady financial life. The earlier you start, the stronger your future financial position. Good early decisions can set a path for a comfortable life. …
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A lender analyses your credit history whenever you apply for a loan for personal or business purposes. It helps them understand the right loan amount to the lender and your affordability. Various parameters in your credit history, like- payment history, a mixture of debt, employment history, length, missed payments, and loan defaults, decides the credit …
Knowing in detail about credit scores and their impact on your financial bracket helps you choose the best. Your credit score may change drastically from applying for car finance to paying bills. Your creditworthiness drastically defines the possibility of a loan or getting better interest rates. Whether you are a new resident in the UK …
If you have applied for loans or credit cards etc., before, you have pretty much idea about credit search. It does not matter what type of loans you have applied for; credit checks are a fundamental part of the decision-making process. These checks are mandatory even when you want to avail of broadband services or …
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A credit report records your transactions, defaults, pending loan payments, credit card payments, CCJs, etc. It is an important booklet. It reveals how you pay your bills and how long you have been managing credit accounts. Loan providers use your credit report to learn about your borrowing and repayment pattern. It helps them decide whether …
