What does it mean to have a Credit Default?

Your Credit Report is used by lenders when assessing your loan applications. The Report helps lenders establish the character and financial situation of any new client. A previous overdue payment listed as a credit default on your Report may result in a lender classifying you as a potentially 'high risk' client. This may affect your loan application.

Bad Credit Loans may be able to help if you have been refused a loan. The first step to a better understanding of your financial situation is to apply for a free credit analysis report, or please contact us for more information.