Credit Agencies - Information on credit scoring
Lenders use a system called credit scoring to determine whether they will accept a loan application.
Generally speaking, an application for a secured loan is more likely to be successful than an unsecured loan application, especially if the applicant has had previous credit problems.
Please note that ADM Online does not make the decision on whether your application is successful - this is done by the lending company.
Should the lender not accept your loan application, ADM Online will not be told the reason why. We are only told whether not your application has been successful or not.
What is credit scoring?
Credit scoring is not an exact science, different lenders have different systems. Generally, lenders will look for the following:
Different lenders may take some or all of these questions into account when deciding whether to accept your loan application.
Rates from 9.9% APR. Variable Typical 17.9% APR
We also have a range of plans with rates up to 29.9% APR allowing us to help customers even with the most severe credit problems.
Consolidating debts may increase the term & total amount payable. Loans secured on property.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.