Credit is any sort of arrangement by which you obtain money, goods or services and agree to repay at a later date. Before a company lends you money, they will put in place certain safeguards to make sure that you will repay it.
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Credit safeguards Why do we borrow?
Further information The FSA (Financial Services Authority) have produced a Debt Test on their website, Money Made Clear or writers write, to help you find out if you have – or are likely to have- problems with your borrowing. |