It’s a money jungle out there and different types of borrowing are designed to suit different situations. There are many factors to consider and shopping around for the best deal is advisable.

Money Jungle does not promote personal loans and we strongly recommend thorough self assessment before making any decisions. See our Personal Loans page for some information about the sorts of loans that may be available to you.. For independent expert advice visit www.moneyjungle.net/advice.

The Financial Services Authority provides an excellent online service providing debt test tool and a loan calculator, comprehensive information and lots of useful advice to help you make the right choice. The new FSA Money Made Clear website can be found at www.moneymadeclear.fsa.gov.uk.

Credit cards offer a convenient way of paying for shopping for goods and services. Credit cards can offer protection particularly when shopping on-line. However, interest rates can be very high and credit cards are not recommended for other than short term borrowing. The FSA Money Made Clear website offers comprehensive advice on how credit cards work, what you should look out for and what to do if things go wrong. See our Credit, Charge, Debit and Store Card page for more information.

It’s essential for consumers to check their credit report; this is information companies check when verifying applications for financial products (e.g. loans, credit cards, mortgages etc). Inaccurate or out of date information may lead to customers receiving a higher interest rate (APR) or even being rejected by the provider.

10 Good Reasons to Check Your Credit Report

CreditExpert from Experian

CreditExpert is the UK's number one online credit monitoring and ID theft protection service from Experian, offering people the opportunity to see what lenders see and take control of their personal finances.

We provide some great benefits to our customers:

• Unlimited, real time, online access to their Experian credit report
• The opportunity to review their credit history before applying for credit
• Email or text alerts notifying of any changes to their credit report which protects them from identity fraud
• The option to order an Experian Credit Score

Click here for your FREE trial sign up to CreditExpert

Refused Credit? Click here for guidance on action you can take.

Click here for an excellent article in which Jim Hodgkins, managing director of CreditExpert answers some of the most common concerns about credit and debt.

Your credit rating can be affected by many factors but some commonly held beliefs about credit ratings are myths.

Click here for ten steps to a better credit rating

Click here for the top six credit myths.

To find advice on managing debt see the Business Directory

* Looking for a business grant, loan or venture capital? Visit the Start a Business section.

* Looking for a mortgage? Click here: www.moneyjungle.net/mortgages


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