If you are one of the thousands of people in the UK who suffer from a bad credit history, you might be confused on what to do next about this situation. Some may have easily given up, especially since it is a fact that in the UK, getting a loan or purchasing things on credit will be extremely difficult if you have a poor credit score.
What really is the significance of a credit score? This is a number that determines how risky you are as a customer. This is a result of your past financial dealings with different institutions. If you handled your obligations and debts well, you will have a good score. If you often missed payments or paid after due dates, you will be given a low score, which means that you are a risky client. Your chances of getting a loan approved or successfully purchasing items on credit become lower as creditors think that you really are not responsible enough to keep your side of the deals. The credit score is readily available to lenders and often serves as the main basis of whether or not you can get a loan or purchase on credit. Low scores may mean that you need to purchase most items you need on cash basis.
One of the places you can look into when suffering from bad credit is a weekly payment store. If you need a sofa, a television or even a Nintendo Wii, you can actually visit these stores and ask what they can offer. Most of them are willing to forego of detailed credit checks and will allow you to purchase from them even if you have a bad credit history. The processing, thus, is faster and the application is less complicated. There is no need to present a lot of papers, to wait a long time for approval or to postpone purchases. Whatever home item you need, you can buy from them and pay weekly.
If you have already been suffering from a poor credit score, it is critical that you pay all your weekly dues on time. Missing payments can further ruin your score. Thus, if you are not ready with the weekly obligation, it is best not to aggravate your current financial situation and simply stick with cash purchases.
If you own a debit card, it is advisable to enroll your purchase to a direct debit agreement so you never miss a payment. A direct debit agreement will permit the lender to take the money you owe them from your debit account. You don’t have to always be worried about missing payments as they have been connected to your account.
You may have suffered from a bad credit history, but that does not mean that you cannot enjoy regular home shopping anymore. Buying items for the home may be as simple as visiting a weekly payment store and choosing what you want. Just don’t forget that while it does not require a credit check, you need to faithfully pay weekly to avoid further hurting your credit history.
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