credit history

Does Getting a Personal Loan Affect Your Credit Score?

Personal loans can have a negative impact on your credit score if you fail to repay them on time. Just like it is the case with types of loans, if you’re failing to make monthly repayments, then your credit score deteriorates. The problems appear when you’re trying to get a home loan, and financial institutions […]

By |May 22nd, 2017|Categories: Personal Loans|Tags: , , , , , , , , |Comments Off on Does Getting a Personal Loan Affect Your Credit Score?

What Is A Secured Loan And How Does It Help Your Credit?

While it may take time to build your credit score, getting a secured loan can help you improve your credit and boost your credit score.

Secured loan defined
A secured loan is a debt linked to your property. So, if you have a home or you are buying one, you can get a secured loan. The amount […]

By |May 4th, 2017|Categories: News|Tags: , |Comments Off on What Is A Secured Loan And How Does It Help Your Credit?

Old Records Hurt Potential Bank Borrowers

More and more people are being denied loans due to the current credit-report system. This is bad news for Australians who have had a poor credit history or suffered bankruptcy, making it virtually impossible to secure a loan through the mainstream lending services such as banks.
Under the current credit report system, credit checks only provide lenders with the number of credit inquiries and details of overdue payments and court judgements in the past five years. Additionally they can see bankruptcy orders made in the past seven years. This comes as a severe disadvantage to those with a less than favourable financial past, to secure a loan and get back on their feet. The reports fail to give a comprehensive individual analysis, and instantly condemn their history to hinder their financial future. […]

By |May 12th, 2011|Categories: Bad Credit Loans|Tags: , , , , , |Comments Off on Old Records Hurt Potential Bank Borrowers