14min chapter

Money Clinic with Claer Barrett cover image

Credit scores: when a small debt becomes a big problem

Money Clinic with Claer Barrett

CHAPTER

Impact of Small Debt on Credit Scores

This chapter explores the consequences of a small historic debt on an individual's credit score and discusses its potential complications, including impacts on mortgage renewal and interest rates. It delves into the concept of paying off loans early and examines the sensitivity of credit scores to small changes. Suggestions for improving the credit scoring system are also discussed.

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