Can i get a loan with a Credit Default?

An overdue payment of 60 days may seem insignificant to you but to a lender this can mean the difference between them approving your loan or not. Being overdue by 60 days regardless of the size of the debt is deemed by many lenders as being a "high risk" client. A credit report is one of the methods a lender uses to establish the character of a potential new client.

There are lenders who specialise in loans for Credit Impaired clients. Loans are given on a case by case basis. It is estimated that 30% of the population are credit impaired.