We're running a credit score masterclass in February because credit scores can be hard to fathom. Hundreds of factors contribute to a mysterious three digit number. A number that can mean the difference between getting a loan or not. Importantly, a credit score can influence the amount of … Read More about FREE training: credit score masterclass
Covid-19 changes to credit score and missed payments
Ahead of FREE webinar on 3 December, we’ve taken an initial look at Covid-19 changes to credit score and missed payments. 30% of 500 credit union members surveyed told us their financial situation had worsened since Covid-19. Step Change found 28% of adults experienced a negative change in … Read More about Covid-19 changes to credit score and missed payments
Covid-19 means falling credit scores. A holistic view is needed
Covid-19 will increase bad debt. Covid-19 means falling credit scores. Spending 1/5 of monthly income on credit is already tight. But losing 20% of a salary (assuming employers pass this cut on), means debts will be harder to repay. And the self-employed are faring worse. Currently they can … Read More about Covid-19 means falling credit scores. A holistic view is needed
Why Spending More On Bad Debt Can Be Profitable
Sticking to your budget for bad debt isn’t always the best course of action. What if spending another 1% on write offs, brought in more income than the extra bad debt cost? Using credit scoring to manage a loan portfolio Credit scoring enables lenders to estimate the bad rate based on a score. … Read More about Why Spending More On Bad Debt Can Be Profitable