What is...

Credit Impaired

Credit Impaired is an informal term used to describe someone with severe adverse repayment information on their Credit Report, such as defaults, County Court Judgments, or bankruptcies.

Will it show if I’m Credit Impaired on my Credit Report?

The phrase ‘Credit Impaired’ will not appear on your Credit Report at any point, because it is an informal term and not industry standard. Your credit history, including any negative markers that constitute being Credit Impaired, 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. You’ll see information held by Equifax, Experian, TransUnion and Crediva, together in the same format.

Can I still borrow money if I’m Credit Impaired?

If you have experienced any of the signs associated with being Credit Impaired, you may face difficulty being accepted for a loan or other form of credit from mainstream lenders. Some (but not all) will offer products to customers with a damaged credit history, but these usually command a higher rate of interest.

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