Check your credit report carefully As a member of CreditExpert, you can see your credit report as often as you like. Check it carefully to make sure that all the information it contains is up to date. If you find anything you disagree with, use the site to query it. Equally, if there is something that you feel needs further explanation, CreditExpert can help you to draft an explanation that lenders will see in future. For example, you may have missed a few repayments because of an accident or illness, if this has never happened before or since it’s worth explaining. Make a new financial plan Now you know where you stand, you can formulate new goals. Start by creating a budget that you can realistically manage. Do not assume that you will get a pay rise or win the lottery – work within your current income to devise a regime that you can live with. You might also want to:

• Pay off some debts – lenders will regard you more favourably
• Consolidate remaining debts into a single loan at a lower rate but check carefully that this really is cheaper – don’t forget to take into account the length of the loan. See if you can reduce your outgoings with MoneyExtra's debt consilidation tool
.
• Search for better deals – for example, take advantage of some of the long, interest-free deals when you transfer your balance on a credit card. Make sure that you use the money you save to pay off existing debts, instead of spending it. And if you’re shopping around for a good deal be certain to let the lender know you are making an enquiry, not an application, until you’ve made your choice. Too many footprints on your credit report is not a good idea
You will find lots of information and advice at our CreditExpert pages. As you make progress, keep checking your credit report to see that it reflects your good new habits. You might also want to order your National Credit Score for the special price of £4.99. Lenders calculate credit scores to decide what level of risk you represent, using your credit report and the information in your application. They compare this to the way in which past customers have behaved and come up with a figure that indicates the chances that you will repay what you owe. Your National Credit Score is based only on the information held by Experian, the UK’s largest credit reference agency, but it does give you an idea of how that will be regarded by a lender. Generally, the higher your score, the easier it will be for you to borrow money. You’ll find details on our CreditExpert pages. Click here if you’d like to know more.