Adverse Credit
Why do I have an adverse credit rating?
This is a question we're asked a lot at the moment. An increasing number of consumers are finding that they are being turned down for loans by the usual lenders and that they are being flagged as a bad credit risk.
So, we're going to take a quick look at the kind of information that can cause these kinds of adverse problems on your credit rating in the first place so you can understand your situation better. First, we'll take a quick look at problems you may already be aware of. For example, if you have defaulted on payments, have a CCJ or have declared yourself bankrupt then you will hardly be surprised to be classified as an adverse credit consumer.
But, there's more to adverse credit than specific problems. Your credit rating is made up of various types of information. So, you'll find the usual adverse suspects in there as we've already mentioned. But, you'll also find 'footprints' that you've left behind as you've used the UK lending sector - so, if you've applied for a lot of loans in the past, that'll come up too. And, if you've been rejected for this type of credit, then that'll be flagged as an adverse report as well. This all seems obvious enough - but who you are can also play a part in the adverse credit game and can make you stand out as a higher risk than you might think to a standard UK lender.
Tell me more…..
Your credit rating doesn't simply contain information about adverse credit problems and what you've been up to. It's also full of information about you. When most lenders do a credit check on you for loans finance then they'll score you on negative and positive points. So, if you've got an impeccable loans repayment record, then you'll get positive points. If you have arrears then you'll get negative points. And, if you don't hit their perfect score then they might reject your application as an adverse risk.
What many people don't realise is that you can earn or lose credit points as an individual too. For example, you will get positive points for being married but no/negative points for being divorced. You'll get higher scores for being middle-aged than you will if you're in your twenties. And, the more children you have the lower your score will be!
It doesn't just stop there - you'll get adverse minus points if you don't have a phone and, if you've not been in your present job for that long, you may not get any points at all. And, to make things even worse, each lender works to different adverse points systems which can make it all even more confusing!
Pushing the positives
But, you can stop being confused right now - as we can help you make sense of the whole credit rating process (basically by making sure that you don't have to deal with it at all!). So, you don't need to worry one bit if you've turned out to have adverse credit. With our help you'll still find the cheapest rates on the market for the adverse loans you need.
You won't need to pay for any of our services - all we need you to do is to fill in our online application form or give us a quick call. Then we can assess your situation and find the best adverse credit loans specialist to suit your actual needs - no matter how 'adverse' you look - and that simply means finding the one with the lowest rates to keep your costs as low as possible.
|
