| |
A:
The research indicates there is no such universal rating. Instead
each lender will individually determine how fit a borrower you are.
Likewise the idea of getting blacklisted also appears to be a myth.
But there is a perfectly good reason why people assume both of the
above exist. Lenders will tend to source their data from the same
places and use systems which highlight a riskier borrower in a similar
way. It's not all bad news however, companies will look for different
types of borrowers. There may be some lenders which are unwilling
to take on a good risk versus a bad risk, simply because it will
not make them enough profit. For example, if you have a credit card
and always pay on the time then you may be a good customer in your
eyes, but to the credit card company you are the opposite, because
you are not making them money. A balance of someone always in debt,
but not in default territory is the manna for the lender. The lender
will source their information from the following areas, the application
form, past dealings with the lender, court credit records, court
fraud records, the electoral roll and account transactions from
other lenders.
|
|
