Credit scores are "everything" that matters for people who are trying to secure a personal loan, it has been suggested.
Richard Brown, chief executive of moneynet.co.uk, is convince that money lenders are currently only concerned with a person’s credit history when they assess them for a new arrangement.
By demonstrating an ability to pay money back regularly, would-be borrowers can help themselves, but lenders are currently "very nervous" and reluctant to lend to anyone who presents a risk.
The reason for this is that both borrowers and lenders have been experiencing serious debt problems in recent months, Mr Brown explains.
He said: At the moment, lenders are only really lending money to people who are demonstrating that they can repay it.
"You need to really address your credit score because everything is governed by the credit score."
According to Credit Action, the typical British household pays out almost £3,790 annually to service the interest on their debt management burden.