Glossary - Black Listed

Black Listed is Poor rating due to credit scoring.
A consumers credit history is stored on databases which are kept by credit reference companies, lenders can look into these to find a consumers credit status. If the credit history is very poor the record will be blacklisted, this tells lenders that it would be very risky to lend money in this case. A few lenders will lend even though the risk is great but the interest charged will be higher at least until their credit circumstances have improved. You can improve your credit rating by making full payments on time.

Example: UK Loans Poor Credit
UK unsecured loans are not standard loans and are made for people who have poor credit ratings. Poor credit history may mean that consumers could be blocked when Enquireing for a UK loan which is provided by standard loan providers. Their only option would be to Enquire for a loan which is specifically designed for people with poor credit ratings and a bad credit history.

Useful Tip
For people in this situation there are loan providers that can be found online who specialise in these matters. If the credit rating is blacklisted loan providers are taking a much greater risk since the client may default again, therefore the tariffs may become much higher due to increased interest charges.

Enquire Online for a FREE Loan Quote - UK LOAN ENQUIRY FORM
Enquire Online for a FREE Mortgage Quote - UK MORTGAGE ENQUIRY FORM

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