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Bad credit and paying off loans
studentdebt_2
Posts: 1 Newbie
Hi,
I've been trying to get an answer on how my credit rating is (or isn't) affected by the fact that I am repaying various student related debts through debt collecting agencies that the banks have passed my debt on to when I was made redundant twice. I've been making a payment even if it's not what they were chasing me for but I get the feeling that I'm not maintaining or improving my credit rating while paying via these companies. I've got a job now but it's not highly paid so it will take years for me to clear these debts.
It's not that I'm looking to get into more debt but I'm thinking of my future and all this will affect me in a few years when I'm still paying it off and can't get a morgage or something.
How does this all work and what can I do about it?
I've been trying to get an answer on how my credit rating is (or isn't) affected by the fact that I am repaying various student related debts through debt collecting agencies that the banks have passed my debt on to when I was made redundant twice. I've been making a payment even if it's not what they were chasing me for but I get the feeling that I'm not maintaining or improving my credit rating while paying via these companies. I've got a job now but it's not highly paid so it will take years for me to clear these debts.
It's not that I'm looking to get into more debt but I'm thinking of my future and all this will affect me in a few years when I'm still paying it off and can't get a morgage or something.
How does this all work and what can I do about it?
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