Collaborating with StepChange Debt Charity, which is running this year’s Debt Awareness Week from 18-24 March, GambleAware’s Money Guidance Service Manager Kathy Wade addressed the misconception that reaching out for debt advice has an impact on private credit score.
“Having a good credit score is important for a number of reasons, including when you want to borrow money, take out a mobile phone contract, or get home broadband,” Wade said. “Companies will check your credit file before making decisions. Factors can impact your credit rating but getting debt advice is not one of them.”
Some of the factors listed by Wade that could influence people’s credit score include missed credit repayments, maxed-out credit cards, court judgements, bankruptcy, or debt relief ..