Bad Credit, or bad credit record are often terms used to describe an individual’s credit history that indicates problems repaying previous credit agreements.
However, there are other factors that may affect an individual’s credit worthiness such as lack of credit history or having an occupation that lenders regard as either high risk or difficult to assess.
For example it is often difficult to obtain credit when self employed as it can be difficult to establish whether the applicant has sufficient base income to meet repayment requirements. Other professions that have difficulty in this area include all military personnel.
There are specialist providers available that will take on what is seen as a high risk loan and that have various ways of reducing the associated risk to the lender and borrow alike.