Will you credit check me?

Hip1988 (1 year ago)

If I was to take this loan out, will it affect me or my guarantors credit rating?

FLM Loans (6 mths ago)

Any lender in the world will carry out a credit search on you before deciding whether to give you a loan. The difference with us is that we dont base our decision on it, we just do it to make sure you're not bankrupt or on an IVA (sorry, as much as we would love to help these guys, there's nothing even we can do).

With your guarantor it's a little different. We have to credit check them to make sure that they have a good enough history to be trusted with the responsibility of being your guarantor. In both cases a footprint is left showing that a search took place, but this isn't a big deal.

The whole point of FLM is to improve our customer's credit ratings. If you miss a payment it will go down on your credit file as a bad mark. If you make a payment it goes down as a good mark. The more good marks, the better your credit rating, the more chance you have of getting more money, at a cheaper rate in the future.


So basically, make your payments on time and it'll all be good.

Comments (5)

Aaron1987 (9 mths ago)

Can i borrow the cash today ?

FLM Loans (9 mths ago)

If you mean can we pay out the loan the same day, then no. You would need to wait for your application to be processed and for us to call both you and your guarantor back before we can pay out your loan. It's a very quick process nontheless.

FLM Loans (6 mths ago)

Hi Jo,

Once we have completed the Verbal Contracts with both yourself and your Gaurantor, we then pass your application to the Underwriting stage for the final approval. This is usually just a formality and if the Underwriters approve your loan, we will send yourself and your Guarantor a text message to let you know that everything is ok.

mark (4 mths ago)

Hi you say I have been acepted before I have found my guarantor. Will I have already been credit checked by you? I will feel embarrassed if I find a gurantor and then you reject me at that stage. Thanks

FLM Loans (4 mths ago)

All lenders will credit check you before deciding whether to give you a loan. We need to make sure that you aren't bankrupt or on an IVA, and we don't base our decision on it. What we also do here at FLM Loans is run through an affordibility check with you to make sure you can afford the repayments, as we wouldn't want to put you in a difficult position. As long as you can afford the repayments, there shouldn't be a problem :)


Tags: affect, bankruptcy, credit check, credit checked, credit file, credit rating, credit score, credit search, effect, guarantors credit rating, iva