Most errors on credit reports deal with late payments on a debt. If you were late one month in paying off your credit card, but have a good history otherwise, chances are, most Jacksonville Florida lenders will overlook this mishap. If, however, you have a history of overdue payments, you will be asked to document the reasons why. Slow payment histories won’t be turned down necessarily for a loan, but you may have to pay a higher interest rate or prove to the lender that you can repay your loan in a timely fashion.

Bankruptcies on your credit reports are not a good thing. It does not, however disqualify you for a North Florida loan. A bankruptcy may stay on your record for seven to ten years. Many lenders will consider the circumstances surrounding a bankruptcy. They will consider things like a family illness or injury. If you have since then re-established good credit, a local lender may be more apt to approve your application.