Carla has applied for a loan, but the lender wants to know more about her credit score and current job status. With an excellent score and steady income, Carla is in a very good place for getting this type of loan. But what if she had missed payments on previous loans? Or what if she was unemployed?

We will explore these questions below. What if Carla Missed Payments on Previous Loans?

If you have been late or missed payments in the past, there is a chance that your current score will not reflect these negative marks. Though there are no guarantees, it might be worth an inquiry with your previous lenders to see what their average response time has been for requests such as yours. Keep in mind that the best way to avoid this situation is by avoiding missing payments from now onward; looking back won’t help much.

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What If Carla Was Unemployed?

Carla’s employment status may also impact her credit score and chances of getting approved for a loan and both unemployment and low income can hurt her chances significantly.

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