So you have missed some repayments, made too many applications for credit or have Defaulted on your Credit agreements. This means you Credit Rating has suffered. To rebuild your Credit Rating you need to show good, reliable repayments. However, a little like a Cut to your arm, the first thing you need is some time to let the problem heal.
All missed payments, defaults and CCJ's are recorded for a fixed term of six years. If you have suffered financial problems in the past 12 months, it's unlikely anyone will take the risk to start lending to you.
As time passes, things do improve slowly. Lenders like to know you are able to make your repayments, it doesn't matter if the Lender is Main Stream or Sub Prime. They have a Legal requirement to lend responsibly.
Lending money to someone who has missed repayments in the past 12 months isn't sensible, Lenders will worry you are over stretched and therefore should decline your application.
As we say, Time is a healer. Once you pass that 12 month basis and you have kept up with all of your agreements, you stand an improved chance of being accepted.
Prime Lenders are unlikely to lend to anyone who has had severe problems, such as CCj's, Defaults and the like. You can pretty much rule that out until those Black marks are removed from your Credit file.
Sub Prime lenders will look at a way they can lend to you. This includes Catalogue companies who are often open to lending to people who have some credit problems.