Would i be classed as having a poor credit rating?
If you have no previous credit problems and pass a credit check with good scores then you are classed as having a good credit record.
Credit Check
A credit check determines your credit history and whether you have any of the following:
- CCJ's or County Court Judgments
- Defaults
- Mortgage Arrears
- Bankruptcy
- Debts
- IVA's
- Hire Purchase Defaults
- Outstanding Credit card bills.
Failed a Credit Check
If you failed a credit check due to a poor credit history, self employed with no accounts, have the wrong job or work only a few hours a week then you are classed as high risk and likely to be assigned a poor credit status.
It may not have been recently, it could have been years ago or maybe maybe it was not that you was at fault, but you are still black listed. Maybe you were made unemployed, got divorced. It could be that illness prevented you from paying the bills on time or bankruptcy made it impossible for you to stay in the black.
Credit Problems
Having a poor credit history is nothing to be ashamed of and there are many lenders who deal with Non Status Finance (another term for Poor Credit).
