A poor credit record which often consists of County Court Judgements (CCJs), Credit Defaults, Repossession Orders, Individual Voluntary Arrangements (IVAs) or Mortgage Arrears.

Often abbreviated to APR, it has to be illustrated by all lenders. Allows you to compare different products and is the most widely used and recognised Interest Rate.
It's important to make a careful comparison of the different APRs when you're considering loan agreements.

Bankruptcy is a formal method of dealing with debts if other options have failed or are inappropriate. The consequences of bankruptcy are severe and no one should make an application for bankruptcy without seeking advice.

A County Court Judgement can be served when an outstanding debt isn't paid. If you receive County Court Judgements, this will go on your credit file which will influence your credit rating. Bailiffs can enforce payment of County Court Judgements in some situations.

Professionals who help you get a loan with a bank or other financial institution. These agents usually charge a fee that may be added to your loan.

Organisations that collect and store details about you to build your personal Credit Report / Credit History. These companies are obliged by law to present you your statutory credit document if requested.

Defines the legal basis for handling information on individuals in the UK. This law applies mainly to company use of this data and only partially to non-commercial use.

A network through which companies share information on customers with debts who have moved home without passing their creditors a forwarding address. If the credit is shared, this data can also show shared responsibilities.

An individual who essentially guarantees to maintain your repayments on your behalf if you are unable to. This gives the lender additional peace of mind that their loan will be repaid.

Files containing detailed information on requests and loans. They are used to pinpoint fraudulent individuals who obtain credit dishonestly.

A written arrangement between you and your creditors. It's set up by a licensed Insolvency Practitioner and involves you agreeing to make reduced payments towards the total amount of your debt - helping you pay back a portion of the debt you owe. The consequences of an IVA are severe and no one should make an application for an IVA without seeking advice

Usually a financial institution (a bank for example) that lends money including debt consolidation loans. Can also be an individual.

A loan that is secured on your property in the same way as a mortgage so minimising the risk to the lender. The lender can therefore usually offer you a secured loan at a lower Annual Percentage Rate than an unsecured loan.

A secured loan can often be easier to obtain than an unsecured loan if you have a poor credit history or rating (Mortgage Arrears, County Court Judgements, Credit Defaults etc.). However, your home is at risk if you are unable to maintain repayments on a mortgage or any other debt secured on it. Sometimes called secured home loans.

Responsible for enforcing the Data Protection Act 1998.

This type of loan is not secured against residential property and often costs more than a comparable secured loan.