When trying to get bad credit loans Australia provides, you should know if you really have a poor credit history or not. But how would you know that? You should be wary of the various credit listings in your file. These include the following:
- Payment history data
- Summons and Writs
- Overdue accounts listed as a payment default
- Bankruptcy data
- Court judgements
- Overdue accounts listed as serious infringement of credit or as a clearout
Other Data That Can Affect Your Credit Negatively
Bad credit personal loans guaranteed approval is available from specialized lending institutions. But you should still know the ins and outs of the data that can affect your credit negatively or positively. Other factors that can negatively affect your credit rating include the following:
- High Amounts Of Credit
When you borrow a large sum of money, it can have a negative impact on your credit rating.
- Multiple Loans
It is generally okay to have multiple loans for different aspects of your life. However, having multiple loans of smaller amounts for unnecessary things can put you at the “bad credit” category.
- Multiple Credit Listings Filed In A Short Amount Of Time
Taking or applying for multiple loans in a short amount of time will negatively affect your file.
- Regularly Changing Your Employment Status Or Regularly Moving From House To House
Multiple changes of locations and employment done in a short period of time are bad for your credit rating. The irregularity itself is an indication of your unpredictable behavior.
- Credit File’s Age
The shorter you have had your credit file, the less accurate the predictability of your behavior. If you have little credit history, there is a small amount of information that can be used to judge your creditworthiness.