Cash advances very bad for credit rating?

Paulgonnabedebtfree

Although I try to avoid it as it's an expensive way of borrowing, sometimes it can be difficult to avoid. I withdrew £200 a few months ago like this because cheques worth about £1,000 were not going to be clear until one day after my mortgage direct debit went out. Although I have large debts that are regarded as quite a lot compared to my income, because I'm single and self-employed and have learned to live the life of a tightwad, I do manage OK. Being self-employed is allowing me to up my income but sometimes the customers could pay a bit sooner. So yes, withdrawing that £200 was a symptom of financial stress but such things only look at cashflow rather than a more overall situation.

Mozette

Paulgonnabedebtfree wrote: »

Although I try to avoid it as it's an expensive way of borrowing, sometimes it can be difficult to avoid. I withdrew £200 a few months ago like this because cheques worth about £1,000 were not going to be clear until one day after my mortgage direct debit went out. Although I have large debts that are regarded as quite a lot compared to my income, because I'm single and self-employed and have learned to live the life of a tightwad, I do manage OK. Being self-employed is allowing me to up my income but sometimes the customers could pay a bit sooner. So yes, withdrawing that £200 was a symptom of financial stress but such things only look at cashflow rather than a more overall situation.

Yes of course, it is far trickier when you're self employed. Sorry, I was speaking from my ivory tower of paid every month employment.
Apologies.