Uninsured drivers add to drivers’ premium misery

When it comes to vehicle insurance costs, many drivers are already facing huge hikes due to the general soaring prices of car insurance. For many, the combination of high insurance costs and rocketing petrol prices is making it more and more difficult to keep their vehicles on the roads, which in turn impacts on other areas of their lives such as getting the kids to school, getting to work, etc.

A recent report has shown that uninsured drivers across the UK are simply adding to the premium misery that bona fide drivers with insurance cover are experiencing, with the average amount being added to car insurance policies because of uninsured drivers coming in at around £30. In total, uninsured drivers are costing the car insurance industry around £500 million a year and this is then passed on to drivers who do pay for their vehicle insurance.

The report showed that around one in six motorists in the UK has broken the law by driving a car that they were not insured on, which could have had serious repercussions in the event of an accident. Around 8 percent of drivers polled said that they had driven their own vehicle without insurance cover whilst another 6 percent admitted to driving someone else’s vehicle without having any insurance cover in place. Around 2 percent said that they had driven their own car without cover whilst they were in between policies at renewal time whilst one in five uninsured drivers even said that they did not know they needed insurance cover to drive their car!

One insurance expert said: “Should you be involved in a crash when not insured, you could face thousands of pounds in liability, a conviction, including six points on your licence, as well as fines of up to £5,000.”

Tags: Social Issues, six points, insurance cover, Business and Economy, Vehicle insurance, expert, costing, bona fide

Competition increases in personal loans market

The start of this year has marked a change in the personal loans market that has seen a variety of well known lenders reducing the rates on some of their personal loans, and this has resulted in the average rate of interest being charged on loans of between £7500 and £15000 falling to their lowest level since November 2008.

Many consumers who have been considering a loan will welcome the news, as it means that they will pay far less for their borrowing as lenders compete with one another to offer the best deals and entice consumers away from their competitors. High Street banking giant Santander is offering a personal loan between these amounts at just 7.3 percent, and others are also offering similar rates.

However, those that are after a loan of £5000 or less will find themselves paying far more in the way of interest, as the rate of interest on smaller loans has actually increased during this period. Sainsbury’s, Tesco, and M&S Money are amongst the other lenders that have decided to reduce their interest rates on larger loans, but some are only offering the most competitive deals to existing customers rather than both existing and new customers, which may cause some disappointment amongst both consumers and industry officials.

A financial expert stated: ‘It’s welcome news for customers to see loan rates falling at long last and from some of the largest providers in the market. It’s a shame that the rate cutting has, apart from Tesco and M&S Money, been targeted at existing customers only. The other downside is that lower interest rates are not on offer for smaller borrowings, so for anyone looking to borrow a sum of say £2,000 to £3,000, the interest rate will be well into double figures and in some cases pushing 20% APR.’

Tags: apr, downside, money, loan rates, expert, customer

Property classed as pension for millions

According to the results of recent research there are millions of homeowners in Britain who are relying on their properties to provide them with income with which to retire. Read more

Tags: personal finance, pensions, expert, Business and Economy, property prices, housing marketus, adults

Many more businesses may face closure next year

The UK has been overwhelmed with concern over recent weeks, with some of the best known retailers announcing that they are going into administration, having been unable to continue coping with huge debts as the recession, the global credit crunch, and the continuing economic downturn continue. Woolworths, MFI, and Zavvi are just a few of the big names to have made the dreaded announcement, but there could be many more to come according to some industry officials. Read more

Tags: expert, closure, stock, early christmas sales, business closures, economic downturn, insolvency, holidays

Graduates urged to prioritise costly debt

Graduates may have to put up with student loans but credit card debt should be paid off as quickly as possible, an expert has urged.

Richard Brown, chief executive officer of financial information website Moneynet.co.uk, remarked that university leavers have a considerable period in which to repay their student loan and should prioritise the repayment of more expensive debt first.

He explained that student debt is “a fact of life unfortunately, whereas carrying big wads of debt on a high interest credit card isn’t”.

Mr Brown made his comments after his organisation published advice to students, urging them to stop “fretting” over the amount they owe through normal student debt and to concentrate first on paying off their most expensive borrowing.

Recently published figures compiled by Credit Action showed that at the end of April, total levels of personal debt in the UK stood at £1,436 billion, an increase of £110 billion compared to 12 months previously.

Tags: credit, debt, information, expert, Student loan, expensive debt first.He

Store cards reduce their APR’s – just

Following new regulations made by the Competition Commission, retailers have had to reduce the annual percentage rates (APRs) on their store cards to below 25 per cent, however, many have continued to hover just below this rate, it has been reported.

According to Fool.co.uk, a number of store cards offer only just below 25 per cent APR, including Jaeger’s card (24.9 per cent), Russell and Bromley (23.9 per cent) and Marks and Spencer (23.9 per cent).

The research found that some companies even increased their rates after the new rules came in, such as Marks and Spencer which hiked its rate by four per cent.

Ed Bowsher, savings expert at Fool.co.uk, said: “Store card-holders should be aware of the high interest rates which come hand in hand with introductory offers – and should remember that these cards are designed to make you spend, rather than help you save money.”

According to Halifax, the average balance on a credit card at the end of the month stands at £1,859.

Tags: Bromley, percentage, expert, Fool.co.uk, 25 per, high interest rates, interest, hover

Fewer mortgage lenders willing to offer £1m deals, says expert

Homebuyers looking to spend in excess of £1 million on a property may have difficulty finding a large mortgage to fund their purchase, according to Bestinvest. Read more

Tags: loan, economic downturn, Mortgage loan, Mortgages, expert, mortgage lenders

Expert highlights need to help those struggling with mortgages

Helping homeowners who are struggling with mortgage repayments is one of the key housing issues in Northern Ireland, according to an industry expert. Read more

Tags: business, position, expert, price, council of mortgage lenders, mortgage help, Mortgages, Department

Mortgages for self-build homes still available, says expert

People interested in building their own homes can still find mortgages, despite finance being scarce due to the credit crunch, the editor of Homebuilding.co.uk has said. Read more

Tags: expert, price, average asking price, Homebuilding.co.uk, self build mortgages, cent loan-to-value ratios, equity, cost

Don’t rely on credit for household bills, says expert

People should refrain from using credit, loans and overdrafts to pay their household bills, the money education charity Credit Action has said.

Although people have been increasingly using these facilities in the past year, the organisation says that it is not a long-term solution.

Capital Economics recently reported that the share of household income spent on food, bills and other unavoidable costs has risen to 31 per cent from 25 per cent over the past six years.

“It could well be that people who need to find that little bit of extra money to get them to the end of the month or pay the gas bill may revert to credit to do that,” commented Chris Tapp, director of Credit Action.

However, he said that people should be careful of becoming overly reliant on credit since resorting to these measures for long time periods could result them having in serious financial difficulties.

Tags: household income, year, little bit, expert, education charity, personal finance, tapp, time periods

Instant access savings charges can be high, says expert

Consumers who open an instant access account should be aware that although they can withdraw their money without notice, some banks will charge them for doing so, according to a financial analyst.

Michelle Slade of Moneyfacts, a personal finance website, has said that as many as one in four banks charge their customers hidden penalties for taking money out of an instant access and no-notice savings account.

Last month, Nationwide published research on savings accounts which showed that 84 per cent of consumers believe there should be no penalty for withdrawals and 54 per cent say it is very important or essential that there is a no-notice period.

Ms Slade says: “The term ‘instant access’ is not misleading, but some would say that they should not really be charging a penalty just for you taking your money out, especially as some of the charges really are quite high.”

According to the analyst, some accounts either reduce the interest or do not pay it for the month in which a withdrawal is made.

Tags: expert, withdrawals, Business Finance, access, penalty, business, banks, moneyfacts

Lloyds: People should check garden insurance

An insurance expert has said today that people make “all sorts of claims” on policies for garden items, urging people to check that their insurance covers things that they might not have considered.

People have made claims for items of clothing being stolen from washing lines, fire damage from barbeques and even stone paving being stolen from a garden, says an insurance expert Jonathan Wadd.

According to Lloyds TSB Insurance, 18 per cent of people have garden items worth between £1,000 and £3,000 and 55 per cent have never checked their insurance policy to make sure it covers their garden items.

Mr Wadd advises people to check their policies as they provide different levels of insurance.

“There’s a quality kite-mark out there for financial series products, which is a de facto five-star rating, so if you look out for a product with that kind of rating it’s more likely to meet your needs,” Mr Wadd commented.

Tags: Accounting scandals, stone, garden items.mr wadd, expert, lloyds, Lloyds TSB Insurance, lloyds tsb, facto five-star rating

ABI: Don’t just go for the cheapest home insurance

With one in three households getting into arguments with their neighbours, people should not simply choose the cheapest home insurance policy as it may not cover the legal cots of a dispute, says the Association of British Insurers (ABI).

Kelly Ostler-Coyle, spokesperson for the ABI, advises people to consider what is covered in the insurance policy rather than simply choosing one based on cost.

Ms Ostler-Coyle, says that when shopping for insurance, people should ask themselves “Does it include legal cover? Does it have all risk extension fees so you’re covered for your items when you’re outside the home and how much [in terms of] belongings am I covered for?”

Yet people often take what they believe is a good deal without taking any advice and later find their claims rejected since the insurance policy they chose does not cover issues such as disputes, says an expert.

Over a million people say they have argued with their neighbours over noise, according to a new survey from Allianz Insurance.

Tags: British Insurers, expert, abi, Allianz Insurance, Social Issues, advice, Financial economics, Business and Economy

Saving is sexy again, says expert

More people are putting aside money as saving is “becoming sexy again,” according to an expert.

Emma Byrne, a savings advisor, said that people aged between 18 to 34-years-old are increasingly seeing saving as a financial priority and are more concerned about it than 55-year-olds.

A study conducted by Opinium Research earlier this month revealed that men feel they need an average of £101,999 to be financially secure, compared to a figure of £82,193 for women, making the overall average £92,507.

Furthermore, one in 50 people said they would leave their partner if they were financially secure enough to do so.

Although Ms Byrne noted that a third of people regularly move any spare money they have left at the end of the moth into a savings account, she also voiced concerns about the remaining two-thirds of the population who do not have this habit.

Ms Byrne said: “We’d really encourage people, once they’ve sorted out their monthly incoming and outgoings, to go and put that money into a savings account.”

Tags: habit, home, population, average, expert, GBP

Debtors should not “hide the problems”

People facing serious financial difficulties should not try to “hide the problems” or assume that they can solve them themselves by using their credit cards even more, says an expert.

A recent report has found that 400,000 people took out new solutions for unsecured debt in 2007, with over half (58 per cent) deciding to refinance or remortgage.

David Kuo, head of personal finance at Fool.co.uk, has advised people to ask their lenders for help to try to solve the initial problem of having borrowed too much money, which they cannot repay in the time period stipulated by the lender.

A possible solution is to extend the length of a mortgage which will lower monthly repayments making it more affordable in the short-term and giving the borrower “breathing space,” although the total amount to be repaid will be higher.

However Mr Kuo advises against taking out secured and unsecured loans, since they may compound the problem.

“Sometimes people are a little misguided about how they solve their problems and they try and throw money at them,” Mr Kuo concluded.

As debt problems increase for many people and lenders tighten their criteria, a survey has found that 18,000 applications for credit cards are being rejected each day, according to MoneyExpert.com.

Tags: half, possible solution, expert, time, breathing space, David Kuo

Expats should have “a realistic financial plan,” says expert

Expatriates should ideally have a “realistic financial plan in place” and take into consideration the cost of the move before relocating, says expatriate and international lifestyle magazine Shelter Offshore.

Director Rhiannon Davies warns that the biggest reason that people “fail to make a go of a new life abroad” is due to financial problems.

A recent survey by NatWest found that the average wage for expatriates working abroad is currently £67,000 compared to the UK average of £47,000, with the United Arab Emirates ranking as the top location in terms of expat earnings.

“Getting financial advice before you go is a good idea,” commented Ms Davies, adding that people who are relocating abroad should seek financial advice since “certain expats can take good advantage of the wealth of offshore savings and investment schemes that there are available”.

Tags: GBP, expatriate, united arab emirates, Website, director, ms davies

Consumers need to budget more as the cost of living increases

As the cost of living increases consumers need to be more aware of ways to budget to make their cash go further, one financial expert has advised.

Because of this Norwich and Peterborough Building Society (N&P) has asked its customers to provide their tips on how to budget effectively.

Advice includes budgeting for utility bills, putting aside money for events such as Christmas into a separate account, unplugging all electrical items and ensuring they are turned off, as well as planning a weekly food menu and basing a shopping list around this.

Gary Lacey, group product manager at N&P, said it is refreshing to see that simple tips, such as changing shopping habits or saving electricity can prove the most popular.

“By adhering to just a few of the tips our customers suggested, families can save little and often, which, in the long run, could add up to a decent amount of money,” he said.

Meanwhile, further research from N&P revealed that the majority of financial decisions for a family are made as a group.

Tags: Financial Services Authority, utility, Peterborough Building Society, food, shopping habits

Body part insurance ‘relatively uncommon’

It is “relatively uncommon” for an everyday consumer to insure a body part that their livelihood may depend on, one insurance expert has claimed.

The British Insurance Brokers’ Association (BIBA) said it is a very limited market and that those who want this sort of product would have to go to a specialist insurer.

Peter Staddon, head of technical services for the BIBA, said that insurance in this field usually covers a person for any scarring and disfigurement that may prevent an individual from working, such as a hand disfigurement preventing a carpenter or sculptor from earning a living.

He said: “If you get somebody who’s got an annual income, of, say, a quarter of a million pounds, you can justify them insuring themselves for one or two million.

“If you’ve got somebody who’s annual income is £10,000, it’s difficult to justify a £2 million life policy.”

Meanwhile, the Telegraph reported that many celebrities have various parts of their body insured as that is their livelihood.

Pop star Bruce Springsteen recently took out cover for his voice worth $3 million (£1.5 million).

Tags: expert, sculptor, various parts, living, british insurance

Not all children ‘would be interested in taking financial advice’

Children would benefit from more financial education in order to make the most of their Child Trust Funds (CTF), but they might not “necessarily be interested in taking that kind of advice”, claims a financial expert.

Ark Financial Planning said that although there are children who have been made aware of the ‘value’ of money, there are more who are concerned about what they can do with it rather what it can do for them.

Phil Perry, a spokesperson for the company said that issues arise when attempts are made to label money in funds for educational costs when not everyone wants to go to university.

“I certainly think the government need to have a little bit more idea on what they expect that money to be used for,” he added.

CTF are saving accounts for children and those born after September 1st 2002 who receive a £250 voucher to start their account.

According to reports in the Daily Telegraph, those children born within a year of the September 1st 2002 can expect windfalls worth a total of £2.4 billion when they reach 18 years of age.

Tags: child trust funds, little bit, company, value, advice

Professional mortgage market could avoid credit crunch effects

Consumers looking for a professional mortgage are “best placed” to escape the effects of the credit crunch unscathed, claims one housing market expert.

Scottish Widows said that the recent economic turmoil had caused a reduction in the number of 100 per cent mortgage products available.

It could also lead to the remaining products becoming more expensive.

However, Richard Clark, head of product development and marketing for Scottish Widows, said: “The impact on this area of the market has been very much less than everywhere else because there are lenders who haven’t changed any of their criteria for professionals at all.”

Those customers who are looking for a professional mortgage are the “best placed” to get an expanded loan to valuations or income multiples on their salary, he added.

Mr Clark concluded that it could be that the only lenders who are prepared to offer 100 per cent mortgages could be those who specialise in the area.

At the end of January 2008, the BBC reported that the number of new mortgage approvals had fallen for the seventh consecutive month in December last year.

Tags: Mortgage loan, head, cent mortgage products, expert, december, bbc, income multiples, housing

Shopping around can improve “financial fitness”

Consumers can improve their “financial fitness” by shopping around for the best deals on mortgages, credit cards and insurance, claims one financial expert.

Abbey said that there is certainly more that most consumers could do to ensure their finances could be improved and looking around for a better deal could make a big difference to the amount of money paid out.

Nici Audhlam-Gardiner, head of mortgages with the company, said: “It’s all about discipline, in the same way that you can be physically disciplined if you decide to get physically fit.”

She added that it is unlikely that someone who set up a bank account ten years ago is still receiving the best interest rate on the same deal.

Looking around for different offers can make a “big difference on your month by month basis, in terms of how much you’re earning”.

According to research conducted by ICM for Abbey, 21 per cent of people renewed their home insurance without shopping around and four per cent do not have any home insurance at all.

Tags: account, Nici Audhlam Gardiner, abbey, best interest, expert

Mortgage market “still buoyant”

The mortgage market is “still buoyant” despite the recent financial crisis due to the amount of remortgage business available, claims one expert.

Despite the market being healthy, Bestinvest said that it is becoming increasingly harder and more expensive to look at remortgaging property. .

Peter O’Donovan, mortgage manager for Bestinvest, said: “There are still plenty of people looking to buy houses, it’s just the cost of doing so, and once again making sure they understand exactly what it is they are entering into.”

Previously a remortgage would only cost a couple of hundred pounds but now the average fee is a £1,000, he added.

According to the Council of Mortgage Lenders, the credit crunch has resulted in funding difficulties for a number of mortgage lenders, reducing their capacity to lend.

Lenders have responded by reappraising the risks involved in lending, resulting in a tightening in lending criteria and a widening in mortgage margins to parts of the market.

Tags: manager, crisis, funding, mortgage manager, lending, expert, amount

Speculative property investors hit by oversupply

The oversupply of flats will have the biggest impact upon those “who have just gone in for the speculative investment” says an industry expert.

Landlordzone.co.uk has said that while established landlords who invest in property as a business could profit from falls in house prices, “the people who have gone into this more recently” will be the ones “who suffer”.

Tom Entwistle, editor of www.landlordzone.co.uk said: “The problem now is that because people [landlords] are desperate, they will lower their expectations of tenants, and will go for a lower quality of tenant.”

“That has a snowball effect because it means people will struggle to let and that could destroy the quality of the whole development,” he added.

Consumers invested in property thinking prices were going to continue rising but this has not happened, concluded Mr Entwistle.

His comments arrive after the Royal Institution of Chartered Surveyors reported that the demand for flats has fallen due to “an oversupply in the market”.

Tags: www.landlordzone.co.uk, rent, Royal Institution of Chartered Surveyors, royal, landlordzone, market, property investors, expert

Building Society issues reassurance on remortgages

The Newcastle Building Society has told mortgage holders not to panic after the City’s financial regulator, the Financial Services Authority, said it could be difficult for remortgages to go ahead “on favourable terms” next year.

Steven Marks, Newcastle Building Society’s lending expert, said: “From this week’s headlines, many people will be forgiven for thinking that they won’t be able to get a mortgage or competitive remortgage deal from their lender next year.”

Even though interest rates came down slightly this week, such a statement could leave borrowers feeling “unnecessarily uneasy”.

However he emphasised that interest rates are historically low.
The cut in the Bank of England’s base rate should also assist the outlook, Mr Marks added.

Other than Northern Rock, most mainstream lenders are still keen to do business and competitive rates should still be available next year he concluded.

Newcastle Building Society has just announced the launch of a full equity release brokerage system.

The expansion of the advisory service arrives six months after the FSA introduced regulations relating to these products.

Tags: expert, year, loan, remortgage, Newcastle Building Society, equity release, expansion, Society’s lending expert

People need to review life insurance requirements

Many people “are running around uninsured” as a result of neglecting to change their insurance policies to reflect changes in their circumstances, says an industry expert.

Life Direct said it is “extremely important” for people to review their life insurance policy whenever their circumstances change.

Keiran Platt, director and financial adviser at the broker, said that people should not be put off by looking at life cover options, as it need not be that expensive.

He said: “The cost of life cover has been reducing a lot over the last few years – so it may be that they can cover their new circumstances and not be paying much more.”

Mr Platt added that a lot of people cover their mortgage but do not think about protecting their family as well.

According to estimates from the Association of British Insurers, one in three Britons maybe underinsured as a result of not renewing their life insurance cover in five years.

Tags: Association of British Insurers, director, broker, looking at life, expert, Insurance, financial adviser, life cover options

Obligatory safe may not bring down premiums

Buying a safe may ensure that providers will cover you but it will not necessarily lower your premiums, an industry expert has said today.

Anthony Neary at The Safe Shop, explained that while some insurers will insist the customer owns a safe before they can get cover, other factors are more likely to help bring down your premium.

He said: “Door locks and window locks will bring your premium down if you’ve got those fitted but safes are a bit different.

“Certain customers are told that they must buy a safe otherwise they’re not going to give them cover for whatever items they’ve got there.”

Meanwhile, the British Crime Survey recently revealed that 300,555 offences of burglary were recorded in homes in England and Wales from 2005 to 2006.

This number represents a seven per cent decrease from the previous year, with criminal damage offences also down by four per cent.

The Home Office reports that most burglaries are conducted by opportunist thieves, with two in every ten burglaries not involving force.

Tags: Containers, today, window locks, lower your premiums, Home Office, expert, security, safe shop

Young people should ‘consider insurance options’

Young people should shop around more for life insurance providers, an industry expert has said.

According to Clare Moyles of Sainsbury’s Bank, younger people are often inclined to use the same provider for life insurance as they have to take out a mortgage.

She said: “Younger people tend to go with their mortgage lender because they might be a first time buyer and that tends to be the easiest thing to do.

“Not shopping around is a disadvantage for them because with life insurance your premiums do stay the same.”

For those who are “younger and healthier”, she added, premiums will cost less. By sticking with one lender without looking at the other options, people are missing out on possible savings.

Information from the Association of British Insurers this year showed that £160 million per day was paid out in Britain in 2005 by the UK insurance industry.

This figure comprises £17 million in death benefits and £144 million paid to pensioners and long term savers.

Tags: shopping, Title insurance in the United States, time, Insurance, Types of insurance, economics, expert, United Kingdom

Brits will invest thousands to feel safe

Homeowners in the UK are prepared to spend nearly £10,000 on securing their homes.

Recent research by Alliance and Leicester Personal Loans, has found that in order to feel safe Britons will spend as much as £8,500 pounds on security measures.

A third of respondents said they would like security patrols, while 52 per cent said they would spend money on CCTV monitoring points of entry.

Furthermore, 53 per cent were prepared to pay out for motion sensor security lights, while 20 per cent they would spend on bars over doors and windows.

Richard Al-Dabbagh, senior personal loans manager at Alliance, said: “Although CCTV and alarm systems may not stop a house being targeted, they both present a very visible deterrent, even to the experienced and expert burglar.

“Burglary is an opportunist crime for the most part. A burglar selects their target because it offers the best opportunity to carry out their crime undetected and with fewest obstacles.”

Last week, the Association of British Insurers said that improving security measures would help keep insurance premiums for homes to a minimum.

Tags: expert, security patrols, homes.Recent research, burglar selects, Brits, alarm, security measures, National security

Unnecessary vet visits cost £19m

Up to 49 per cent of emergency trips to the vet are unnecessary and British businesses are losing out on £19 million as a result.

According to insurance firm More Than, 37 per cent of all pet owners in the UK have taken time of work to take their animal to the vet.

The majority lied to their employer about what they were doing, with 58 per cent taking annual leave, while many said that they were ill.

However, More Than has discovered that almost half of these cases did not require an emergency visit to the vet, costing a combined £118 million.

In response to this, the insurer is launching a new service which it says is based on the successful NHS Direct.

The service is called Vetfone and it is hoped it will save pet owners time, money and worry.

“Pets are an important part of the family so when a pet becomes ill, many people don’t hesitate to take time off from work to rush them to the vet,” said Mike Holliday-Williams from More Than.

“MORE TH>N’s Vetfone will provide worried pet owners with 24 hour access to a qualified veterinary nurse who can advise them on the best course of action.

“We anticipate that Vetfone will save pet owners valuable time and money in unnecessary vet visits, and it will enable vets to focus time on the serious cases that need their expert skills,” he added.

Tags: unnecessary vet visits, GBP, owners valuable time, expert, pet

Are money worries written in the stars?

The time of year in which you are born may be affecting your banking skills and how good you are at managing your finances.

According to Credit Expert, our star signs could determine our financial futures and have huge effects on our personal lives as a result.

Research from the firm has found that Scorpios become so concerned with money problems that they are more likely than any other sign to split from their partner over financial worries.

Cancerians, on the other hand, have the least rows about money but this is likely to be down to the fact that 17 per cent regularly lie to their partners about how much they spend.

The most honest signs when it comes to finances are Capricorns and Arians, while the most confident about their credit rating are people born under the sign of the Taurus.

“Regardless of whether you take astrology seriously, the survey shows that there are a lot of people with great concerns about their spending and borrowing,” said Jim Hodgkins from Credit Expert.

“Instead of looking to horoscopes for solutions to their financial problems, they’d be better off looking at their credit reports.

“Your credit history is part of your financial CV and if it doesn’t reflect your current status, lenders may be less inclined to offer you credit in the future,” he added.

If you are unsure of your credit rating it may be worth finding out so that you know exactly where you stand and can correct any wrong information that may be held against your name.

Tags: wrong information, cent, personal lives, hand, expert, financial cv, financial worries.Cancerians, money worries