Credit Reports

What are the implications of a credit report on your short term loan application?

A Bad Credit Report Does Not Mean No Loan

A credit report is at the centre of borrowing. It is the main tool used by lenders to determine whether a customer is likely to be able to repay. It must be made clear, that as well as bad indicators, such as missed payments, good indicators are also recorded – such as completed payments.

It is all too easy to look at your credit report, and see a bad score, and assume you won’t get a loan. This is not necessarily the case – especially as Moolr work with bad credit loan lenders, as well as normal lenders.

credit score rating meter

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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