Question by tiriguidum: If I have a defaulted debt of £5000, but currently making payments, is this going to stop me getting credit?
the account is currently being paid but i need some extra money , I’d like to find a
£15000 loan that’d leave me with £10000 after the £5000’s paid for, what are the chances of me succeding? remember the account was defaulted in the past. Thanks
Answer by morrisjudy45177
A history of deliquent/late payments (depending on the type of account, 2 to 3 months late) goes on your credit report here in the U.S. Also potential lender prospects look in to your credit report/you apply for credit, that is also on your report. This can be a negative indicator to lenders that you are at potential for even greater debt. You do have the right to try to amend your report by submitting (in writing) an explanation of deliquencies at which time the company will determine the validity of your dispute.
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