Many lenders search for details about your revenue, work, living costs and loan that is existing to aid them determine whether you really can afford to settle that loan. Many lenders also wish to glance at your credit history. It may be a good sign of exactly how most most likely you might be to pay for straight back the money. It’s likely you’ll have good credit score when you have a great reputation for payment on past loans. Your credit score can be bad in the event that you missed repayments on a frequent foundation or did not spend a loan off in past times.
Additionally, it is feasible that ICB doesn’t have any credit documents in terms of you. This does occur when you have no active loans in the previous 5 years or your computer data is not registered with ICB because of the appropriate user.
2. How do lenders find out about my loans that are previous?
Most lenders in Ireland deliver information regarding borrowers and their repayments up to a main agency, the Irish Credit Bureau (ICB). ICB holds details about borrowers and their loans for five years following the loan is closed. These details is held in a credit that is individual’ that is kept by the ICB about each borrower.
3. Is my loan provider permitted to check always my credit rating? Continue reading