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blondey
Joined: 12 Dec 2006
Posts: 1
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 Posted: Wed Dec 13, 2006 3:40 pm Post subject: credit history |
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Can any kind person explain how to read a credit report for me please?
ive applied for a loan with my husband, and it got rejected so i got our credit reports.
Mine seems clear but my husband has 3 late payments to a credit card?
Is that enough to have a loan rejected?
Am i missing something?
Look forward to some answers |
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Andrew
ClearDebt Advisor
Joined: 04 Dec 2006
Posts: 49
Location: Manchester
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| Posted: Wed Dec 13, 2006 5:40 pm Post subject: |
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Late payments are funny things - some card companies might welcome a late-payer with open arms if they can see s/he has lots of capacity to repay. After all, they'll make more money from those that forget to pay on time, but can afford to!
It's likely that late payment was just one factor. The total amount of credit you have may come into it, as might your postcode - and the length of time you have been at your address.
But, you will find that different lenders have different criteria, so shop around. However also bear in mind that making lots of applications for credit in a short period of time also tends to be a big negative for most lenders.
You may find our guide to credit rating useful.
All the best,
Andrew |
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Kam
ClearDebt Advisor
Joined: 29 Nov 2006
Posts: 5
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| Posted: Fri Jun 22, 2007 2:00 pm Post subject: |
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| It would also depend on whether or not your husband received a default for his missed payments, if he has missed three payments on one card it is likely that he would have done, if an agreement has not been reached with the credit card company initially. Your credit report should state this in any case if a default has been registered, if it is the case, then i am afraid it will be on his file for six years whether the debt has been settled or not and could continue to adversely affect you as you are both living at the same address |
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Boo
Joined: 18 Jun 2007
Posts: 8
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| Posted: Tue Jul 03, 2007 9:42 am Post subject: |
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does being 'blacklisted' still exist nowadays?
if i moved into a house where someone else had been made bankrupt would it affect me getting credit? |
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Andrew
ClearDebt Advisor
Joined: 04 Dec 2006
Posts: 49
Location: Manchester
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| Posted: Tue Jul 03, 2007 10:01 am Post subject: |
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| Quote: | does being 'blacklisted' still exist nowadays?
if i moved into a house where someone else had been made bankrupt would it affect me getting credit? |
There is no such thing as a blacklist. There is just a list and some people on the list are more likely to get credit than others: Credit reference agencies only display factual information about people, most of which is provided by lenders.
Credit reference agencies do not offer opinions about whether you are likely to repay credit. Lenders make their decisions using credit scoring based on information held by credit reference agencies, additional information you may have provided and their own internal procedures.
However, the credit record of anyone with the same surname at the same address is taken into account, which can have a positive or negative impact. This even applies if the person moved out before you moved in.
Our downloadable guide on credit rating can be found here, and may help further: http://www.cleardebt.co.uk/Debt-advice/downloadable-debt-help-guides.php#448 |
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