What Loan Companies Wouldn’t See on your Loan Files

Before you even think of getting a bad credit assistance, it would be smart to learn the tricks and techniques of several lending agencies these days most particularly the banks. Refinance bad credit would only yield to positive results if you are aware on the activities that run in this type of solution. There are several myths about what details are kept on your credit files. Don’t bring yourself to the trap and be fooled. Your lending company keeps massive amount of financial data but not everything. Here are some of the important information that your lenders may not be able to see in your records.

  1. Salary. The amount of your salary isn’t available in your credit records although you will be asked to give it on the application form. Your lenders wouldn’t know how much money you are making unless personally asked or requested. Your savings account is another confidential detail in your record. As savings are not a credit product, they also don’t show on your credit records. Any medical problems you have experienced in the past are also not listed as well as criminal records.


  1. Relative information. Given that you don’t have any combined financial products with your relatives or family members who live or have lived with you, they will not be known to your lenders. Information from the child support agency is also not listed. Information on student loans are also not included in your credit file unless you had a county court judgement against you for non-payments.
  2. Your parking or driving files. Your fines on wrong parking or over-speeding are restricted to your lending companies. Although they are issued by the courts, they are not credit issues so these don’t concern your lending firms. Any fines you have settled upon driving is held private. Race, religion and colour are also details that your lender wouldn’t take time learning.
  3. Whether you have examined your credit file. Your loan company wouldn’t have any idea whether or not you already have checked your credit file as this activity isn’t informed to them. While your credit check is kept on your records and dates will appear as to when is your last evaluation, it isn’t announced or passed on to lenders. And with that fact, this issue doesn’t play any important function in your assessment.
  4. Previous rejected applications. Loan companies can only view whether you have applied for credit on some other lending companies, not whether you have been accepted or refused. There are some lending firms that may be able to guess through scanning the credit accounts you have opened. Defaults or missed payments are also confidential to your lenders. Normally, these information will stay on the file for 6 years so anything before that may be eliminated. If you choose to shut down or terminate an account and refinance bad credit, missed payments could still remain for 6 years from the termination date. Bank charges reclaims are also not listed. If you have reclaimed bank charges, it won’t appear on your credit files.

Visit us at CAI Financial Fort Mcmurray for your loan application.

CAI Financial Fort Mcmurray


About bartsuavek

An entrepreneur, financial advisor and advocate of good living. Visit me at: Phone: 780-715-4920 Email: info@caifinancialfortmcmurray.ca Website: http://caifinancial.ca/fort-mcmurray/

Posted on October 5, 2014, in Fort Mcmurray cash, Fort Mcmurray loans, Fort Mcmurray payday loans and tagged , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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