What does ‘impaired credit’ mean?
- Posted in Getting Started
Impaired credit or adverse credit, as it is sometimes referred to, is when you’ve had a history of not keeping up with payments on your credit agreements and you’re then unable to get approval for new credit.
For more information on some of the more common aspects of impaired credit, read 'The bad credit basket: Is this really where you belong?'
If you have impaired credit or adverse credit, you may have experienced a ‘life event’ such as a marriage breakdown, illness or a failed business venture and are often viewed as too high risk, even if you have overcome the event that caused the impairment.
If you would like to know more, speak to a Lending Specialist on 13 73 77 between 8:00am - 6:00pm AEST.