CAR LOAN?... WHAT'S ON YOUR CREDIT FILE?
Credit File Report
Your Credit File is extremely important, when a lender decides whether to approve your Loan; or not!
Many people have never seen their Credit File, or even know that they have one!
Every time you have applied for Credit; whether a mobile phone account, a loan, a credit card, or limit increase that application is listed on your credit file for every credit provider to see when you apply for credit.
If you have had a lender say NO to an application for any sort of Credit, you probably hear "You don't meet our Lending criteria". This often means that there is a problem on your Credit File.
If this has happened to you, get a copy of your Credit File, find out your Credit Score, and receive a Credit File Report, with advice on how to repair your Credit Rating by visiting:
www.mycreditfilereport.com.au
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Loan Type
Select the Loan Type You are after.
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EMPLOYMENT STATUS
Read about the Loan Types depending on Your Employment Status.
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CREDIT STATUS
Find out what's possible depending on your Credit History.
Read about the different Loan Types, Loans available for your Employment Status, and Loans available depending on your Credit Status.
Due to the recent Global Financial Credit Crisis, many Lenders have become more 'conservative' in their lending guidelines, meaning that they have tightened up on lending to people with poor credit histories, especially people who have multiple defaults with lending institutions, like Banks.
Guidelines around Employment Status, and continuity of employment, has also been tightened, and most 'mainstream' Lenders will not lend their money while you are on a 'probationary' period... » See Guidlines here
Take time to read, and become better informed before you apply, and when you do make a personal loan application, make sure that you complete all the questions truthfully, and in as much detail as possible... » Read About the 6 'C' of Credit Assessment here
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