How debt review affects your credit record later
IT’S not surprising that when contemplating debt review as a solution to a debt problem, many of us worry about the implications on our credit records. If you have ever taken up credit, whether it be a loan or car finance, and a bond, you have probably heard about a credit report or a credit score. While your credit score is a consolidated rating of your creditworthiness, your credit report is the account of your credit transactions that is used to determine the credit score. Compiled by registered credit bureaus, your credit report is regarded as the unbiased measure of your financial responsibility and can be used for various life situations, from opening a clothing account, to buying a house and even applying for a new job. When you go…