Adverse credit history

There are many problems about the credit dealings
because sometimes during the dealings the creditors
have to face unforeseen complications.

As it has become a part of our life we sometimes
ignore the problems we face through it. Though they
also offer you extra protection, when things go wrong
you may have spent more money than what you figured on
and the protection may not help.

But if you have been in financial trouble at some
stage, which most people have sometime and have
arrears, a county court judgment or bankruptcy, the
creditors may find it very difficult to issue you a
credit card.

It has been seen that this adverse credit history
hampers the person’s life in later periods, as they
have a poor financial record in the past they could
not avail credit card facilities though they have
sorted out their finances.

There are many factors which could create adverse
credit history and could lead you into trouble, which
are as follows.

If you have not paid arrears on your mortgage or other
loans, if the payments are not made on time and are
over 30 days late on your mortgage or other loans,
county debt is going against you, if your claiming
address is false and you are not available at the
voters list on that address then also it is counted as
your negative point.

If you are a multiple applicant for different credit
cards then it acts as a negative score to your credit
history. One of the main things is Recent Bankruptcy
(undercharged bankrupts will always act as negative
points to refused credit).

And last but not the least is Repossession, it is also
a bad thing to have on your credit.