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You have a CCJ from a long time ago
A County Court Judgment (CCJ), even if it was from a long time time ago, still has a negative effect on your ability to get a loan. If the CCJ is from more than three years ago a lender may offer a small loan. However they may not be prepared to lend a higher amount.…
Read MoreYou have a CCJ on your credit file
A County Court Judgment (CCJ), even if it was from a long time ago, still has a negative effect on your ability to get a loan. If the CCJ is small or from sometime ago lenders might be more likely to say yes. However they may not be prepared to lend a higher amount. It…
Read MoreYou are currently insolvent
According to your credit file, you are currently going through a type of insolvency. This can include bankruptcy, an Individual Voluntary Arrangement and Debt Relief Orders. There are legal restrictions which means that in most cases lenders will not be able to offer you a loan if you are currently insolvent. Tip: Wait until you…
Read MoreYou have a default from a while ago
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 remains the case, even if the default was from sometime ago. Tip: If the default is in the last couple…
Read MoreYou have missed more than payment recently
Missed payments are when you’ve not made repayments due under a credit agreement. For example, missing the last two months’ credit card repayments. Lenders considering loan applications see the current status of your account. If two payments have been missed this will show a ‘status 2’. If this is in the last 12 months, you…
Read MoreYou’ve borrowed and not made a payment
According to your credit file you may have taken out a loan and never made a repayment. Creditors sometimes call these runaways or first payment defaulters. In such a case it is almost certain you would be turned down for a loan. Tip: If you have taken out a loan and never made a payment,…
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