Negative Credit Rating Implications

[Elphaba]

I have noticed with interest the fear people have of their credit rating being impaired and would like to debate this topic. I notice people in debt, on this forum, trying to consolidate loans to refinance, but are met by refusal from their banks. The fear of a negative credit rating prevents them from facing up to their situations. When debt rears its ugly head the first instinct is to borrow more money, Ive been down that road a year ago but have since started a new business in its early days, which is starting to generate more income. I still have credit card debts and have only managed to pay the interest which is frustrating, however with Mabs help Im getting the interest frozen, but this may affect my credit rating,
but Ive a better chance of clearing the debt quicker.

 

[Brendan Burgess]

Re: Your credit rating?

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