Articles Published by tom magor

Tom has a degree in Business Administration from the University of Plymouth. For some years he coached a local youth football team – he is a Level One FA Football Coach. Tom writes on all topics, often linking sports stories to credit related matters. Tom is a Senior Credit Analyst at checkmyfile.

How long do closed accounts appear on my credit report?

Some people believe that as soon as a credit agreement is settled and closed, it will no longer be reported to the UK’s Credit Reference Agencies and therefore will no longer have an influence on future credit applications. However, this is a popular misconception, one that could affect your ability to get credit if not correctly understood.

Published on 2 May 2018 by Tom Magor

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HMRC Bans Credit Card Tax Payments

From 13 January 2018, it will no longer be possible for consumers to use a personal credit card to make a payment on HMRC’s Self-Assessment tax portal. Historically, this has been a popular option as it allows what is often a considerable sum to be deferred.

Published on 12 Jan 2018 by Tom Magor

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Does Statute Barred Mean My Debt is Written Off?

If you look around on the internet for debt advice you might see one questionable tip popping up from time to time: ‘don’t pay off your debts, wait six years for it to become statute barred and you’ll be home scot-free.’ If this sounds too good to be true, that’s because it is, and if you think it’ll be without consequence you could be in for a nasty surprise.

Published on 10 Jan 2018 by Tom Magor

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Am I On The Electoral Roll? How to Find Out

In addition to providing the ability to vote, being registered on the Electoral Roll (sometimes called the Electoral Register) is of vital importance when it comes to your credit rating and how you'll be assesed. An Electoral Roll listing is often considered 'the hook on which all other data hangs' and therefore plays a key role in establishing a strong credit file.

Published on 2 Jan 2018 by Tom Magor

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Addressing Incorrect Credit Account Information

With such a vast amount of information being reported to the credit reference agencies by a wide variety of sources, it cannot be taken for granted that everything which appears on a credit file is factually correct.

Published on 12 Jan 2017 by Tom Magor

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Virtual Insanity – Bitcoin Values Surge

While many currencies have struggled in the wake of considerable economic uncertainty, Bitcoin continues to go from strength to strength. The value of the virtual currency has hit a 3 year high with each new coin now worth about $900 (£730). Simultaneously, the total value of all Bitcoins in circulation has now surpassed $14bn.

Published on 11 Jan 2017 by Tom Magor

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Lloyds Acquire MBNA in £1.9bn Deal

Signalling a return to strength and in the organisation’s first acquisition since the 2008 global financial crisis when they purchased HBOS, Lloyds Bank is to buy credit card firm MBNA from Bank of America in a £1.9bn deal.

Published on 20 Dec 2016 by Tom Magor

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Housing Values Rise to 5.6 trillion

While housing prices have displayed a consistent rise over the past several years, according to a recent study conducted by Halifax, the total value of privately owned housing in the UK has exceeded £5.5 trillion for the first time.

Published on 14 Dec 2016 by Tom Magor

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Indebted Retirement for Many As Liabilities Continue

While their working days may have come to an end, financial commitments look set to continue for a greater proportion of retirees than ever before.

Published on 12 Dec 2016 by Tom Magor

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Payday Loan Industry Contracts as Watchdog Bites

In the wake of a crackdown from the Financial Conduct Authority (FCA), the payday lending industry has drastically contracted, represented by a near 70% reduction in overall lending. To draw upon Russell Hamblin-Boone of the Consumer Finance Association, a mere 1.8m short term loans were issued over the course of 2015, compared to 10m in 2012.

Published on 9 Nov 2016 by Tom Magor

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