How to maximise your income during Covid-19
If you’ve suffered a financial hit because of Covid-19, there’s no better place to start than seeing if you can maximise your income. There are the usual benefits and tax credits to claim, but rules have changed – often for the better – because of Covid-19. Whereas you may not have been entitled to anything…
Read MoreCovid-19’s impact on lower income borrowers
In September NestEgg processed one loan application every 10 minutes. This anonymised data set provides new insights into Covid-19’s impact on lower income borrowers. The pandemic is hitting around 1/3 of credit union members badly. But this isn’t yet showing in the credit data – there’s a lag that lenders need to be aware of.…
Read MoreAbout insolvency
Insolvency is another name for bankruptcy. In fact, its one of several different ways to have your debts written off. Consequently, you get a fresh start. Sounds great. However, there are serious consequences. You’ll find it hard to get credit for many months, even years. In a small minority of cases you could even lose…
Read MoreThere are good missed payments
There are good missed payments. That might sound counter-intuitive. No one wants to see missed payments on a credit file. But a more careful look at the data can reveal an applicant getting back on track. There are missed payments but things are improving. An accept. Not a decline. For what many lenders consider to…
Read MoreWhy being at your credit limit reduces your credit score
If you are at or close to your credit card or overdraft limits then you are likely to be refused a loan. If you are at your credit card limits this may give a lender the impression that you are using the cards to live beyond your means. Furthermore, if lenders suspect you’re using credit…
Read MoreNestEgg is now regulated by the Financial Conduct Authority
NestEgg is now regulated by the Financial Conduct Authority as a provider of credit information services. This means we can now provide tips to loan applicants on how to improve their chances of being accepted for a loan. Decline to accept in action! How does it work? An applicant wants to borrow. But they’re unsure…
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