What exactly is bad credit?
If youve been refused by loan providers in past times, you might think you’ve got bad credit. But keep in mind, the requirements for approval differs from lender to lender. Therefore, some loan providers often see you more favorably than the others.
But, there are several plain items that many loan providers see adversely. These generally include belated re re payments, defaults, County Court Judgements, Debt Management Plans, Individual Voluntary Arrangements, and bankruptcy. An insubstantial credit rating can count against you too this might be a typical problem if youre new to your country or try this website perhaps you havent removed credit prior to.
All of these facets are going to be mirrored on your own credit history, which lenders utilize together with your application and just about every other information they hold to determine your credit rating.