Debt Advice on Debt Management IVA's and Debt Consolidation from Credit Geeks
By: Julia Aidan
Submitted: 2011-01-05 10:25:18 | Word Count: 709
There are various credit information websites available to help consumers in the uk, but amongst them, Credit Geeks is a leading website designed to provide you with objective information and advice about your current credit status, to help you boost all your credit rating scores, and gain access to the credit you want - at the interest rate you deserve.
Credit Geeks assists people to obtain the excellent credit and rate they are entitled to and ultimately save money. The site helps people with a poor credit rating score by empowering them with knowledge as to why they have bad credit, and the tools to improve their credit report and learn from the mistakes in their credit history. To perform this they include links and extensive details on the three important uk credit bureau agencies - Experian's Credit Expert, Equifax and the Callcredit. Credit Geeks explains the strategy of improving your credit rating with each credit agency with clear information and guides. Lenders use one or multiple credit agencies, for lending decisions.
The three uk credit reference agencies keep records on individuals credit performance and their financial relationships. This is used by lenders to identify the right person whom they will lend to, based on assessing the risk of a consumer defaulting on the credit (not paying it back). Lenders provide the credit, only when they are confident of receiving the full repayment. That is derived from the verification of the payment capability of the person and his financial track record with other finance or credit arrangements (such as credit card payments, and wether they have been on time). The decision to grant the credit is also based on the other details in your application such as employment status, salary, savings, address, any history with the lender. The global financial credit crunch has led the banks and lenders in general to be much more careful and prudent in their lending strategies, which is why it is vital your credit report is in great shape.
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In order to have the best chance of succeeding in your application for credit, a correct and updated credit report is crucial. For insight into how to improve all your credit rating score, Credit Greeks is perhaps the most comprehensive and objective source of information online. They provide links for access to check your free online credit reports from Experian's Credit Expert, Equifax and Callcredit. They advise the best method to use the online reports and help you obtain the credit at the best possible interest rate (APR) for loans, credit cards, mortgages, car finance and mobile phone contracts.
Credit Geeks explores the basics of improving your credit score and essentially debt management. Credit Geeks explains a strategy for this for example:
- Managing and paying all your current credit obligations on time, avoiding all late payments.
- improving your credit report, and check it regularly for mistakes and making sure any debt is listed appropriately (for example paid off debt is showed as settled)
- Registering your address on the electoral roll,
- Not extending yourself too far with your current debt, and avoiding CCJ's (county court judgements)
- if you are rejected for credit not applying for more until you understand why you were rejected.
- Cancel any accounts, credit cards etc you are not using.
Credit Geeks also discusses methods for debt management, including IVA's. Debt can be very stressful, so Credit Geeks discusses strategies to get out of debt and how to prevent it happening in the future.
Identity theft and the subsequent Identity fraud has become a common phenomenon today. One should be very particular about this and safeguard from such criminal activities. Credit Greek explains the identity Theft Protection solutions available, which can help the person identifying the fraud quickly, and guide you with the primary steps to prevent such activities in future. Experian and Equifax provide Identity Theft Protection services, including alerts regarding any changes to your credit report, which will show an application made with your details, for example, indicating identity fraud if you did not action this.
