FAQ

How will my credit rating be affected?

If you are having difficulties because of debts then you may find that your credit rating has already been affected, especially if you have CCJ’s or have been declared bankrupt.

However, sometimes if you obtain credit and show that you can meet the regular repayments, this may improve your credit rating in the future. This could apply in the case of the remortgages that we offer through our specialist bad debt remortgage companies, for example. Through this facility we help people to obtain remortgages when they have experienced difficulties obtaining them elsewhere.

It is worth bearing in mind that if you are refused credit you have the right to get in contact with the relevant company to find out how they arrived at their decision to refuse credit. You can obtain a copy of your credit report for a small administration fee so that you can see what information is shown on it. You may also ask the company who refused you credit to review your application if your credit information has changed recently.

Sometimes people fall into debt because of extenuating circumstances such as the loss of a job or illness. Therefore, if your circumstances have changed since you got into debt you have the right to ask credit reference agencies to put a note on your credit report explaining the circumstances. This could help you to obtain credit in future since the companies granting credit will be able to see this note on your credit report.

Give us 5 minutes and we'll give you:

  • Advice on all debt solutions that you may apply for
  • If your debt can be written off
  • Explain any interest or charges that can be frozen
  • Honest, no obligation advice

Some solutions, such as a Debt Management Plan or an Individual Voluntary Arrangement involve costs when the plan is set up.  These costs are there to cover the expenses and work undertaken on your behalf.  You will always be told clearly about any costs upfront.  Other solutions, such as a Bankruptcy incur costs which are payable to the Court; Debt Relief Orders incur costs which are payable to the Insolvency service.

Debt Direct is a trading name of Tatstar Limited. Tatstar holds a consumer credit license to offer debt counseling. Your enquiry will be passed to a selected third party who will contact you to discuss the most appropriate solution for your circumstances.