Are you wondering why you may have a bad credit rating even after keeping your credit card balances low or staying below your credit cards spending limits?
Your credit score Australia is a snapshot of your credit behaviour. A borrower can improve and fix the information on a credit file by making simple adjustments in debt management.
Not everyone can apply for serious financial hardship. Not getting enough money to pay your bills or to meet your daily needs wouldn’t suffice. The law set specific circumstances where individuals can take refuge from this legal exception. Serious hardship is a situation in which you can no longer pay your debts and bills. It is a relief offered by creditors and the taxation office to release borrowers from certain types of financial obligations
The past is not past when it comes to credit history. Of course, you are not defined by your past but creditors look into it to see if you are credit worthy. So even if you make a resolve to change or you pay off your debt today, that’s not the end of that.
Having a bad credit history can affect your future loan applications. If you have any intentions or plans to get a loan in the future, you might have a hard time convincing banks or any other private lenders to approve your loan.
