Bankruptcy badly affects your credit record for six years. This article looks at what should show on your credit record after you are discharged from bankruptcy. For almost everyone, discharge happens after a year. But if lenders don't record bankruptcy and your discharge correctly, they will continue to damage your credit record for longer than they should. Even if you … [Read more...]
Getting out of debt
Practical articles about the different debt options, which might work for you and different ways of dealing with creditors
How to improve your credit rating after a DRO
A Debt Relief Order (DRO) lasts for one year and then your debts in it are wiped out. But it shows on your credit record for six years. This article looks at what should happen to your credit record during the DRO year and after it has finished. If a creditor has got this wrong, ask them to correct any problems. You can start to improve your credit rating after the twelve months of your DRO … [Read more...]
What should the default date be & when will it disappear?
A default hurts your credit score, but how long for? That depends on the default date recorded on your credit file. If the default date is too late, it harms your credit score for longer than necessary. The Key Rule to remember is "A default drops off after 6 years". This always happens, regardless of whether: you have repaid it in full you made a partial settlement you are still … [Read more...]
The best free ways to check your credit score
Keeping track of your credit record is smart, but how do you go about it? With more than a dozen ways to check your credit record in the UK, it can get confusing. So, what are your options—and which are the best free ones? And is it ever worth paying for "extras"? Do credit scores actually matter? Not really. There is too much hype about credit scores. Lenders never see the score you see … [Read more...]
Loans2Go – the worst loans in Britain – ask for a refund
Loans2Go offers what I have called the worst loans in Britain. Their typical APR at the moment is 450% See the example Loans2Go quotes on its website: "Representative example: If you borrow £999 over 18 months at a flat rate of 132% per annum (fixed) with a representative 450.5% APR you will make 18 monthly payments of £165.39, repaying £2,977.02 in total. This means you would pay £1,978.02 … [Read more...]
“A mystery CCJ on my credit record – I know nothing about it”
A reader, Ms J asked about a CCJ that suddenly appeared on her credit report. "I check my credit record sometimes and there is now a CCJ on there. It looks like it was added a few months ago at an address I left ages ago, possibly 8 years. I don't even know if this is real or some sort of error. It's only a few hundred but I don't want to pay it if I don't have to and I don't know who to pay … [Read more...]
How to get refunds from catalogues and credit cards
Have you had a credit card, store card or catalogue where your credit limit was too high? So high that the monthly repayments were hard to manage and you got into more debt? For some people the limit was too high at the start. Others were originally given an OK limit, but the lender kept increasing it. or it was OK while the 0% offer lasted, then unmanageable. You may have a good … [Read more...]
Car finance commission – make a claim to the FCA scheme
The FCA Car Commission Compensation Scheme was announced on 30 March 2026. The FCA estimates that about 12 million HP & PCP agreements that started between 2007 and late 2024 may be eligible for a refund, averaging £829. Let's look at some of the details and what you should do now. What car finances are eligible for a refund? Finance types and dates The finance types covered are … [Read more...]
“My DMP payment is too high”
A reader asked if it is OK to reduce your debt management payments when you need to? This is a common problem in Debt Management Plans (DMPs). Sometimes your income falls. Often your essential expenses go up faster than your pay does. And in Spring 2026, with many bills increasing in April and petrol prices going up a lot, many people will find their current DMP payments hard to … [Read more...]
Increasing the interest on a credit card – your rights
Update: in March 2026, Lloyds, Halifax and MBNA (all card lenders in the Lloyds Banking Group) started sending out emails saying that card interest rates would be increased in May 2026. This was followed by another set of increases for Lloyds and MBNA cards in September 2026. most of the increases are between 4.25% and 4.5% a year. If your credit card says it is increasing your … [Read more...]
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