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Daft Boy

A Snapshot Of True Debt In The Uk Today

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I have just done a credit check on behalf of a female friend who has been in financial difficulties since her divorce some four years ago when her husband left her destitute and homeless with debts of around £50000 to pay off. She is paying off the debts, which are mainly to four banks, with an IVA arranged when she was going through the trauma of divorce. But because the IVA monthly payments of £750 do not leave her sufficient funds to live on each month from her take home pay of £1000 from her full time night job that only pays minimum wage levels she is now in default. At the moment the remainder of the £38000 is still outstanding to the banks with little hope of repayment.

The UK credit report shows all of the above information clearly and accurately. Now this is the interesting bit. Her credit score in light of the above is 771 out of a maximum of 1000. This means that her credit score category is rated as FAIR. This ,the report tells her, means that from her credit history over the last four years her score rating is higher than that of 30% of UK consumers applying for credit. :blink:

Being a smug git with a personal credit score of 999 out of 1000 (excellent) words fail me.

What sort of financial mess are people and the UK economy really in for goodness sake ?

p.s

On the basis of her fair credit score my friend has just successfully applied for a credit card to enable her to buy some essentials. As Nu Labour say "things can only get better". :lol::lol:

What sort of financial mess are they actually leaving for the next government :blink:

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