About County Court Judgements (CCJs)
As a rule, it is rare for creditors to take people to court. Because of this, lenders take County Court Judgments (CCJs) seriously. Furthermore, a CCJ will be on your credit file for six years. Consequently you could struggle to get credit for a long time. Additionally, creditors may use an automated lending system. As…
Read MoreYou have no County Court Judgments on your credit file. Keep it that way!
There are no County Court Judgments (CCJs). on your credit file. CCJs have a serious impact on your credit score. Some lenders use automated systems that look back over the last six years. So, a CCJ that was issued, for example, four years ago, can still lead to ‘computer says no’. Tip: If you so…
Read MoreGreat, there are no or few missed payments on your credit file
There are no missed payments on your credit file. Consequently, this helps you maintain a better credit score. Furthermore, it means you’re more likely to be accepted for a loan. Tip: If you ever think you might miss a payment, contact your lender. They may be able to offer a ‘grace period’ before reporting the…
Read MoreYou have a recent default on your credit file
If you’ve missed between three and six payments, on a credit account you may be declared in default. Defaults are serious. Often a lender will automatically decline an application if there has been a default. This is especially the case if the default is within the last year. Importantly, defaults remain on a credit file for six…
Read MoreYou have missed payments on your accounts
Each time you miss a payment a ‘current status indicator’ goes up in value at the Credit Reference Agency. When you miss one payment a ‘1’ is displayed. When you miss two payments, it’s a ‘2’. Missed payments will make it harder for you to get accepted for a loan. The more missed payments the…
Read MoreFaster growth with easy online applications
Covid-19 has been a catalyst for change. A huge global nudge in the direction of doing things online. Because of this, borrowers expect easy online applications. Get this right and loan books grow. Get this wrong and 58% of people will never use your services again. Worse still, 6 in 10 of 25 – 34…
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