It can be difficult to obtain finance with bad credit.
What can you do?
- Obtain a copy of your credit report. This will be supplied for free by the credit company upon application. Get your free credit report within 10 working days at www.mycreditfile.co.nz
- Check that the information on the report is correct.
- If it is not correct – contact the credit reporting company and notify them of the dispute.
Sometimes the information is accurate and can’t be changed. However a bad score or defaults and judgments or even bankruptcies won’t last forever. Your credit will get better over time without any action by you.
One thing is certain and that is your improved credit won’t last long unless you change your habits. If you want to maintain good credit that means only borrowing what you can afford to repay and making your repayments on time.
Your credit rating is one of your most valuable assets. A good score will help you to borrow at reduced rates. You are a more attractive customer for a loan if you have a history of repaying your debts regularly and on time.
If you can’t fix your credit today and need finance – still contact us at broadlands.co.nz. We have a history of being able to assist with loans even if you are rejected by other lenders.