Will this affect my credit rating?
by Craig 11 months ago.
I'm worried if I let you help me then it will make my credit rating bad. Will it?
Answered by Johanna Toomer last updated 9 months ago.
When on board with any debt management company, you are making reduced payments to the people you owe money to. Making reduced payments may put your account at risk of defaulting. A default will remain on your credit file for 6 years and may affect your ability to get credit in the short term and possibly in the medium to long term too.
Debt Line's focus is not on your ability to gain credit in the future, it is to get you debt free at an affordable rate!
Remember, if you are not a Debt Line customer yet but are already missing or making irregular payments towards your debts then this may also be impacting your credit score.
by Johanna Toomer 10 months ago.
Hi Isaac,
You can check your credit rating online. There are some companies that offer this for free so make sure you shop around!
Debt Line will not submit any information about your debt management plan to credit reference agencies. Any information on your credit file will have been shared by the people you owe money to.
Related questions
by Isaac 10 months ago.
How can I check my credit rating & will Debt Line show on my credit file?