Loan from HSBC

MTUK

Hi, I was going to apply for a loan with HSBC for a car who I have a current account with but decided to sign up with Equifax first as I was worried about some credit problems I had in 2011.

My credit score is 493 but as I expected on the report I had 39 months since last serious problem on repayment conduct and it says poor.

Will I be turned down for a loan on this basis?

Thanks

[Deleted User]

It's all about your 'serious problem' and nothing about the score.

What do your files actually say?
What' s your income?
How much do you want to borrow?
Are you on the electoral roll?

andyfromotley

Serious problem = Late Payment on a credit card...... no problem

Serious problem = Defaults, loads of AP markers and general financial meltdown..... mucho problemo.

MTUK

Thanks for replies, hmm doesn't look good then.. I had a 6 month period in 2011 where I had problems, missed payments on credit cards one default on a loan, I settled in full a few months later. Is there a period of time that goes past where the data is cleared?

[Deleted User]

6 years.

But data has less impact the further back it goes.