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From dealing with debt to getting on the housing ladder: how regular checks helped our users take control

We hear how four of our users took control of their money

ClearScore’s mission is to help everyone achieve financial wellbeing. So when you get in touch to tell us how you’ve taken control of your money, we’re thrilled to hear that ClearScore played a small part.  

In this post we want to celebrate four of our users, who took proactive steps to take control of their money. Your stories spur us on and guide us to make our service better and better.

  

From denial to repairing his credit profile — Thomas’ story Thomas

When Thomas was just 18 he started, in his words, ‘getting carried away’ with credit cards and found himself in trouble with making the payments when he had a period of unemployment.  He told us he was in denial of the problem, and had lost control of who his debtors were.   

Since joining ClearScore he’s been able to track down all his debtors and gradually pay off his debts and clean up his credit profile.  He has gone from not being able to get a current account (meaning he couldn’t set up direct debits to monitor his report with other paid-for services) to being accepted for a Credit Builder card which he’s been able to use carefully to build up his score.  Not easy Thomas, well done for getting back in control!  

 

From struggling with debt to buying his first home — Matti’s story   

Matti

Matti has been through some financial tough times, but has now achieved his goal of getting onto the housing ladder, buying his first home.  Like Sylvia he also had some debt related problems in the past, which he has overcome with the help of a debt management plan. As he told us,  

‘It was tough and obviously I learned the importance of budgeting and how to live within my means.  Not always the easiest of lessons, but also one of the most important ones to learn!’   

He monitored his credit score to ensure that his previous problems were gradually erased from his credit report so that he could move on, and he described getting his mortgage accepted as a ‘final seal of approval’.  He moved in a couple of months ago — enjoy settling in! 

 

From a debt spiral to taking control — Sylvia’s story   Sylvia

Sylvia had problems with debt in the past — getting into what she describes as a ‘vicious circle’ of credit cards and then loans to pay them off.  It came to the crunch of taking control or losing her home, and so she faced up to the problem and contacted a debt management company who set her up with a debt management plan which she eventually has paid off.   

She told us that ClearScore has let her see her credit score improving each month, as a reminder of the progress she has made, which is a satisfying feeling.  

 

Monitoring for fraud – Tony’s story 

Tony

Checking for errors is one thing, but it can be an entirely more worrying situation when you spot something you don’t recognise on your file, only to discover that you have been the victim of fraudulent activity.  If someone has stolen your financial details, and applied for accounts in your name, this will show up on your report.   

We work with Action Fraud, who told us that 4 million of us have been victims of identity fraud, and the number is growing quickly. One of our users, Tony, got in touch to say he spotted attempts to open a Vodafone account in his name, around the same time some suspicious activity happened on his email account.  He followed up with the mobile company and put in place some additional checks with the email provider, and is now monitoring the situation.   

The way most people used to engage with their credit report was once or twice, taking advantage of the free trial at a moment when they needed to take credit, and cancelling as soon as they remembered to stop having to pay the monthly fee. It’s great to see people like Tony using it to regularly watch their profile to good effect.  

 

Thank you for sharing  

Thanks for sharing so generously, and to the hundreds of thousands of people who’ve taken the time to share feedback on our service.  You help to shape ClearScore!  

*Images used are stock photos to protect the identity of our users. 

 

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