Credit Impaired

What does Credit Impaired Mean?

Credit Impaired is a slang term used to describe someone with defaults, judgments or insolvencies recorded on their credit report. It is more severe than the term Adverse Credit, but similarly does not have any specific requirements to be met for this term to apply.

Though near-identical in name, it is not the same thing as having Impaired Credit, although many of the fundamental principles apply to each.


Q: Can I still get credit if I’m credit impaired?

A: If you have experienced any of the signs associated with being Credit Impaired, you are unlikely to be accepted for a loan or form of credit through any of the mainstream lenders. Some (but not all) will offer products to customers with a chequered credit history, but these usually command a higher rate of interest.

Q: Will it show if I’m credit impaired on my Credit Report?

A: The phrase “Credit Impaired” will not appear on your Credit Report at any point, because it is a slang term and is not used as an industry standard. The credit history including any negative markers that constitute being Credit Impaired however will appear on your credit report.

To see what lenders see, you can try checkmyfile FREE for 30 days , then for just £14.99 a month afterwards, which you can cancel at any time online.

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