Timing your meals

accounting, report, credit card-761599

Q1. What might it mean when someone has a good credit rating or score?

 

Pick two and talk about each one.

Give examples if you can.

Yes, banks and other lenders use this scoring system as a guide to help assess someone’s history of credit.

Correct, the higher the credit score, the more choices there are for loans etc.

That’s right, having unpaid loans can lower a credit score.

You can make a separate note if you think of something else.

Test Case

You get a bill in your name that needs paying.

 

Here are some actions. What makes them unhelpful?

Open it only when it is time to pay, in case it stresses you out

You may need time to put things in place, especially if it is an amount higher than you expected.

Wait until the final bill arrives before you worry about it

If the bill amount is more than you can afford, you have less time to negotiate.

Forget about it. If you do not have the money, how could they expect you to pay?

Deciding to ignore due bills could lead to companies taking further action against you, such as arranging external collectors or bailiffs.

So what could you do?

Confirm the amount on the bill in your budget and pay it, or if you have to, negotiate installments with the company.

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