Poor Credit History

Credit history includes a partial profile of an individual or business’ financial life, compiled within a particular time frame -- usually measured in units of years.

The credit history demonstrates the extent to which you pay your bills on time and how much you may owe particular parties. Poor Credit History can include many different facets of financial life. This can be County Court Judgements, Bankruptcy, Mortgage arrears or late payments on credit arrangements.

Poor credit history can be detrimental to future loan and credit efforts. The poorer a person’s credit history, the more difficult it is to find a lending institution.

Once this institution has been found, the details of a loan or credit given to those with poor credit history are much less favourable than those for an individual with a sound credit history.