Could credit report errors be affecting your application?
Keep getting declined? 1 in 3 reports contain an error which can stop you being accepted.
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Before applying for a £1000 Loan Over 12 Months, please budget thoroughly to ensure that you’ll be able to meet repayments. If you are struggling then a £1000 loan over 12 months may not be right for you.
Having an imperfect credit history means that at some point in the near or distant past, you may have failed to make your credit repayments on time, or perhaps failed to pay them at all. This means you could find it difficult to get approval for new credit from lenders such as banks.
You’re unlikely to be judged a high credit risk if you’ve only missed the odd payment or two and have subsequently made those payments. However, if you have lots of missed payments and/or been referred to a debt collection agency this will affect credit ratings. As will having filed for bankruptcy or maxing out on your credit cards. Therefore, new creditors could see you as a high-risk customer making it difficult to get credit at the lowest APR rates, if at all.
At Moolr we believe that honest people who’ve been turned down by their bank should still have access to a flexible and affordable loan deal. This is why we offer an alternative personal loan solution for those with a less than perfect credit history.
Your credit score is a number, or “rating” calculated from the information held in your credit report. The report indicates the probability of you being able to pay back a loan or credit be it a £2000 loan over 24 months or 2 year bad credit loans. The higher the number, the higher the probability that the lender will trust you as being able to repay the credit. You should be seen as a lower risk to lend to.
There are three main credit reference agencies, Experian, Call Credit and Equifax. All use unique score systems and algorithms to calculate your credit score, so your score may differ with each. Therefore a ‘good’ score interpretation and a ‘poor’ score interpretation may vary widely, depending on which credit bureau you utilise. It’s vital to read their unique explanations of what your credit score means.
Many people in the UK may have found themselves with a poor or mixed credit history, but it doesn’t mean that we’re all untrustowrthy borrowers. An imperfect perfect credit score may be where it’s currently at due to a few missed payments in the past or you may have accumulated a number of debts. Applying for credit time and again can also lead to a negative mark on your credit profile, so it’s important to be wary of this each time you seek credit so that you don’t end up making it worse. Making regular payments on what you owe is the best method to improve your rating. It wil take time, so patience is required.
A £1000 Loan Over 12 months is the perfect loan for many people, as the repayment period id ideal for making repayments. It allows time to repay what you owe, whilst many struggle having debts hanging over them for multiple years. Ensure you can make your monthly repayments and you can budget comfortably for money going out of your account.
Get your credit report and score put right now Check my Credit
At Moolr, we specialise with lenders who deal with those of us with an imperfect credit history. Therefore, we like to think we provide our borrowers with a real chance of improving their credit score, by finding a £1000 loan over 12 months to suit any budget.
By choosing a £1000 loan over 12 months, you are giving yourself the best chance of rebuilding your credit rating. By making multiple payments on time, you are displaying trustworthiness to potential future lenders. Once you have completed every monthly payment successfully, this will have a positive footprint on your credit report. Should you require further credit in the future, you have a better chance of obtaining it. Missing a payment will also have a negative impact on your credit score. Keep on top of your finances. Ensure you have a brighter financial future.
A £1000 Loan Over 12 months could help give you peace of mind, and remove stress from your daily life. Use our simple calculator to see what Moolr could do for you today.
Applying through Moolr means that you are under no obligation whatsoever to take out a loan. We liaise with lenders that specialise in a £1000 Loan over 12 months. And we offer a great chance of rebuilding or enhancing an already good credit score.
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