What is...

Impaired Credit

Impaired Credit is a slang term for someone’s credit history, which shows signs of difficulty keeping up with scheduled repayments. It often describes people who have had healthy credit histories up until recently, but with a missed payment or two indicating the start of a downward trend in their credit rating.

The term can be used for either businesses or individuals and there is no set amount of money that needs to be owed before you are deemed to have Impaired Credit. It is not the same thing as simply having a poor credit history, which is referred to as adverse credit.

Will it appear on my Credit Report?

There is no Impaired Credit marker that appears on your Credit Report, but your credit history will be visible to lenders, who may interpret the missed payment markers as Impaired Credit.

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 online at any time. It’s the only place you can check data from Equifax, Experian and TransUnion together in the same format, and is by far the most detailed Credit Report available in the UK.

The UK's First Provider Of Online Credit Reports

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The UK's First Provider Of Online Credit Reports

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