Bad credit loans
Do you know that if you have a bad credit history, you'll have difficulty in obtaining loans in the future? Recently, hubby's friend wanted to buy a new car but the bank refused him a loan. At one time, his friend got into financial difficulties and defaulted on a home loan. That's why he was blacklisted by the banks.
Your credit history is a record of all past financial commitments and your pattern of repayment, as well as an overall look at your total debt load. Credit reference agencies use this information to assess your credit worthiness and assign a credit score. Lenders then use the credit score as a factor in deciding whether or not to underwrite your loan.
But of course, if hubby's friend really wants to buy that car, he can always get a bad credit loan. He can choose either a secured or unsecured loan. Well, i hope once he successfully obtain his secured a bad credit loan, over time he can improve his credit score by showing regular, responsible repayment of the loan.
Your credit history is a record of all past financial commitments and your pattern of repayment, as well as an overall look at your total debt load. Credit reference agencies use this information to assess your credit worthiness and assign a credit score. Lenders then use the credit score as a factor in deciding whether or not to underwrite your loan.
But of course, if hubby's friend really wants to buy that car, he can always get a bad credit loan. He can choose either a secured or unsecured loan. Well, i hope once he successfully obtain his secured a bad credit loan, over time he can improve his credit score by showing regular, responsible repayment of the loan.
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I almost wrote this topic...
May I have your email?
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