Finishing a debt arrangement is a big relief — but there are some common missteps people take afterwards that can delay their financial recovery. Here are the most frequent mistakes, and how to stay clear of them.
1. Not checking your credit report
Many people assume it’ll update on its own — but credit files don’t always reflect your completion accurately. It’s important to regularly check your reports from all three major agencies to ensure everything is in order.
2. Letting incorrect information stay on your file
If your creditors haven’t marked your debts as settled, or if default dates are wrong, these issues can drag down your credit score for years. Left uncorrected, they can affect everything from mortgage applications to mobile phone contracts.
3. Applying for too much credit too soon
It’s understandable to want to rebuild your credit quickly, but making multiple applications at once can look like financial desperation. It’s better to apply selectively and use low-limit credit responsibly.
4. Forgetting about financial links
Joint accounts or credit cards from the past may leave a financial connection on your file — meaning someone else’s poor credit could still impact your score. You may need to ask credit agencies for a “notice of disassociation” if you’re no longer connected.
5. Not registering on the electoral roll
It’s a small step, but being on the register at your current address helps build trust with lenders. If you haven’t already, registering can give your credit score a noticeable boost.
💡 Our service is designed to help you avoid these pitfalls. We ensure everything is handled properly so your credit file reflects your progress — clearly, correctly, and with no missed steps.
