You need to be aware that some of the options to deal with your debts will affect your credit record. This will mean that it will be more difficult for you to get credit in the future, including a mortgage or even getting a new mobile phone contract!!

This is because information about your financial situation is collected and stored on file by credit reference agencies. They give this information to lenders like banks, building societies, finance houses and major retailers. The lender uses this information to help them decide whether or not to give you credit.

Information held by credit reference agencies includes:

• your credit agreements, including balances and payment histories
• failure to pay your mortgage
• whether you have had your home taken back (repossessed)
• county court money judgments (CCJs)
• bankruptcy orders
• Individual Voluntary Arrangements (IVAs)
• previous credit searches
• Administration Orders.

You can check your credit file to make sure it is correct, We provide links to help you get the cheapest possible credit history.