Bad Credit

There can be any number of reasons why people throughout the UK find difficulty in obtaining credit. Below is a list of possible reasons;

• Existing loan arrears
• Previous defaults on loans, credit cards, bank accounts
• County court judgments, more commonly known as CCJ’s
• Poor credit rating
• No proof of income
• Self employed
• Council or private tenant
• Less than 3 years at current address
• Missed payments on mortgages, personal loans, credit cards, store cards, catalogues
• Previous failed loan applications
• The amount of money applied for is too high
• A very short time in employment
• Not registered on the electoral roll
• Occupation not recognised

It is worth noting that none of the reasons mentioned above should be viewed in isolation and are not necessarily “bad credit” reasons. Each lender will operate a different lending policy when it comes to assessing bad credit loan applications. If you have been declined credit on more than one occasion it is possible that you may have used a high street lender who is not necessarily willing to provide you with a loan because of adverse credit history.

Specialist bad credit loan providers, such as us, are used to dealing with people who have been rejected for finance in the past for whatever reason and will usually be sympathetic to any loan application.