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Bad Credit
Bad Credit is the Term used to describe someone who is considered a High Risk to Lenders and other finance companies such as issuers of credit cards.
One of the most common reasons for having a Bad Credit rating is that, at some point in the past, you've got into financial difficulties and missed payments, defaulted on a loan or hire purchase agreement, or had debt recovery proceedings started against you.
You can also have a 'bad' credit rating if you have no financial history at all - this is called 'no credit' and is common with young people, divorcees and others who have not entered into credit agreements previously.
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