The assessor will continue with your application by confirming your income with your employer as well as obtaining a copy of your credit history.

The credit report will show all borrowing history for the last five years as well as all enquiries made during that time. Any outstanding defaults or bad debts will need to be explained and usually cleared up before the application can proceed. If the application has been made to a non-forming lender for debt consolidation purposes they will undertake to clear up any bad debts with proceeds from the loan.

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