What can damage your credit score?

What can damage your credit score? Having a good credit score is something which is desirable to all of us. It helps us when we want to access financial assets such as payday loan or a mortgage. Having a credible credit score makes one less of a risk to lenders and therefore, one would not have to stress about the possibility of being rejected since lenders use this score to actively assess whether they wish to grant you a loan. Loan providers will also use your credit score to assess the overall terms of your loan, such as the rate […]

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Benefits of a Payday Loan

One of the best ways of obtaining money when you are facing difficulties is a payday loan. A payday loan essentially allows you to pay off your financial obligations or unexpected expenses before your salary for the month arrives into your bank account. Payday loans for bad credit even let those who do not have the best credit score going to apply and be accepted for a payday loan – so if you have a bad credit score, you too can take out a loan. Taking out a payday loan can save you from penalties imposed on late payments as […]

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What happens when bailiffs get involved?

What happens when bailiffs get involved?

If you are severely struggling with debts, you may end up having to deal with bailiffs. But what happens when bailiffs get involved? Here at Payday Bad Credit with the various aspects of dealing with bailiffs. Such as receiving a bailiff letter, what action you can take against bailiffs, how the bailiffs should treat you as well as what they can or cant take. Receiving a bailiff letter You may receive a bailiff letter (otherwise known as a ‘notice of enforcement’ if you have not settled an outstanding debt. This could be any of the following: County court or family […]

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What Is A CCJ?

What Is A CCJ?

If you find yourself on the receiving end of a CCJ, it is very important that you are fully aware of the facts, the consequences of having one as well as what you need to do next. At Payday Bad Credit, we tell you everything that you need to know when it comes to CCJs. A CCJ is a County Court Judgement (sometimes known as a County Court Summons)  it is filed by a county court if you have failed to make repayments and haven’t responded to previous letters asking you to make the payment. This is a court order […]

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What is a Continuous Payment Authority?

What is a Continuous Payment Authority?

What exactly are continuous payment transactions, otherwise known as a continuous payment authority (CPA)? Payday Bad Credit provides you with an overview of everything you need to know about continuous payment authorities (also known as recurrent payments), what they mean and what you can do if you have a CPA. What is a continuous payment authority? A CPA is when you have given a business permission to take money out on a weekly or monthly basis from your debit or credit card, whenever they believe that they are owed money by you. The sorts of businesses who use recurrent payment transactions […]

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What Happens When You Go Bankrupt?

What Happens When You Go Bankrupt?

What exactly happens when you go bankrupt? Here is our guide explaining exactly what bankruptcy is, whether it may be the right option for you, and how you can go about applying for bankruptcy. What is bankruptcy? If you are seriously struggling to pay back existing debts you have and are getting very behind on mortgage or credit card repayments, or a payday loan, a way in which you can solve this debt problem is applying for bankruptcy. However, it is not only you who can apply for bankruptcy. Creditors (the people who you owe money to) can also apply […]

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What Is A Credit Search Footprint?

What Is A Credit Search Footprint?

What is a credit search footprint? When it comes to applying through mortgages brokers, direct payday lenders, or a credit or store card, we are all fairly familiar with terms such as whether or not we have a good or bad credit score, and what a credit check. But when it comes to a credit search footprint? Many of us are not so keenly aware of what exactly this entails or means. In fact, it is actually very closely connected with credit scores and credit checks. Here we provide an overview as to what a credit search footprint actually is, the […]

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How Does A Credit Check Work?

How Does A Credit Check Work?

If you are applying for a mortgage, payday loan, credit card or any other type of loan, it is pretty much a given that a credit check will be carried out on you. So what exactly is a credit check, how does it work and why is it so important? What is a credit check? Lenders will often conduct a credit check, looking at your personal financial information in order to determine if you are a suitable applicant or not for a loan. They are able to see whether you have any existing debts on your file, whether you have […]

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What Is Debt Management?

What Is Debt Management?

Getting into debt is something all of us have a deep-rooted fear of. Unfortunately for many, the fear is inherently real, and therefore they have to consider debt management.  According to statistics from 2016 by The Money Charity, over £1.562 trillion was owned by people in the UK by the end of October. Clearly, debt management is on the minds of many people across the country. In case you weren’t completely convinced, here are some further statistics on just how endemic debt is in the UK The age category most over-indebted is those aged between 25-34 according to a study […]

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How To Improve Your Credit Score

How To Improve Your Credit Score

Knowing your credit score is incredibly important if you want to keep your finances in check. It is even more vital to know what your credit score is if you are looking to apply for credit, such as making an application for a credit card, applying for a mortgage or for a payday loan. However, once you know your score on your credit file, it may not be what you anticipated or hoped for. This can have a detrimental effect on any applications you making for lending money: a bad credit rating can mean you are refused credit by lenders. […]

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