Who will be bad credit loans for? YouвЂ™ll probably have credit that is low or damaged credit report in the event that youвЂ™ve:
- Formerly missed loan repayments
- Formerly missed household bill payments or phone that is mobile broadband contracts bills
- Defaulted on a merchant account
- Been bankrupt when you look at the last
Lenders will run credit checks you loan offers or approving your application on you before issuing. You may want to see what your credit score is yourself, to get an idea of the type of loan product youвЂ™ll be eligible for before you apply for loans.
What exactly is a good credit rating? You wonвЂ™t qualify for a credit that is bad if:
There clearly wasnвЂ™t one credit that is universal in the UK, but rather three credit agencies which problem independent scores, on different scales. These scores is going to be centered on your previous borrowing, payment history, your available credit, as well as other private information.
- Experian : issues credit scores between 0 and 999, and such a thing below 560 is recognized as bad.
- Equifax : dilemmas credit scores of between 0 and 700.Read More »Who will be bad credit loans for? YouвЂ™ll probably have credit that is low or damaged credit report in the event that youвЂ™ve: