Bad Credit

What Is Bad Credit?

Bad credit will be based on your credit history, and your credit history is a record of how you performed with repayments of any financial commitments that you may have or have had in the past.

Bad credit is likely to be the result of one or more of the following.

• Missed payments
• Late payments
• Defaulting on a debt
• County Court Judgments (CCJ's)
• House repossessions
• Rejected Loan Applications
• Bankruptcy Orders

Other factors which may contribute to giving you bad credit could include frequent changes of address and failed credit applications. Also bear in mind in this day and age, that identity theft could impact your ratings. If you have been a victim of identity theft it is likely that missed payments on loans that you never took out will be giving the appearance of bad credit.

See our credit rating section for more details of your credit rating and how to get copies of your credit record.