Yes. At Abound, we believe your credit score is only one part of your financial story. Traditional lenders often rely on outdated credit reports that don't reflect your current situation. We do things differently.
How we look at "Bumps" in your history
We understand that life happens. We can often lend to customers who have had credit issues in the past, such as:
Historical Defaults: Debts that were defaulted on years ago but are now being managed or have been settled.
Past CCJs (County Court Judgments): Older judgments that resulted from a one-off life event rather than a pattern of financial irresponsibility.
Low Credit Scores: If you have a "thin" credit file (meaning you haven't borrowed much before), we can still assess you fairly.
The Open Banking Advantage
Instead of just looking at a number from a credit bureau, we use Open Banking to look at your actual bank transactions. This allows us to see:
Your Current Income: We see that you are employed and getting paid today.
Your Real Spending: We see that you are paying your rent and utility bills on time right now.
Your Future Capacity: We calculate what you can truly afford to pay back each month after all your essentials are covered.
When a poor credit history might lead to a "No"
While we are more flexible than high-street banks, we are still a responsible lender. We may not be able to approve your application if:
You have active or very recent defaults that show you are currently struggling to manage debt.
You are currently in an active Bankruptcy, IVA, or Debt Management Plan.
Your recent bank history shows high-risk financial behavior (such as heavy gambling).
The Bottom Line:
A "poor" score doesn't mean an automatic "no" at Abound. We look for reasons to say "yes" based on who you are today, not who you were years ago.
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