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AnswerBy "bad debt", I assume you are referring to collections. All lenders do not make you pay off all collections. In fact, there are some non-conforming lenders who do not make you pay any collections, other may only make you pay if the total is over a certain amount. If you are shopping for a mortgage loan, look for a mortgage broker who does business with "non-conforming" lenders. Another Perspective

Actually, a lender has an obligation to make you pay off any recorded liens before they hand more cash over to you. The interest of the lien holders take priority over your interest in the property so if a lender is going to hand over cash to anyone they get theirs first.

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Q: Why do the lenders make you pay off all bad debt?
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Who to get a debt consolidation load from?

If you mean where to get debt consolidation loan, you may seek assistance from any reputable credit card debts consolidation services agency. They can provide you with options that suits your debt situation.


Are there any lenders who deal specifically with bad credit candidates?

yes, there are several companies that lend money to those with bad credit ratings. They usually have higher interest rates then a regular loan company, and are willing to consolidate all of your debt.


If you have bad credit and high debt and apply for an 80K loan with a cosigner with very good credit and high net worth will you get the loan?

That is determined by the lenders loan guidelines.


What do you mean buy bed debt?

I think the question should be 'buy bad debt'. You buy bad debts at a deep discount and make money when the debt was actually paid.


How can I pay off my debt?

First you must understand the two types of debt. Good Debt and Bad Debt. Good Debt = Appreciating Asset Bad Dept = Depreciating Asset Pay off your bad debt first and you do this by analyzing all your income and expenses. From this information create a budget that includes a debt repayment plan.


Will not paying for a timeshare give you a bad credit?

Yes. It is a debt and if defaulted on will most likely be reported to one if not all the major CRA's. Yes. It will affect your credit reputation. If you still have money on your bank account, it is possible that it can be collected through this. It can be reported to a credit agency as it is considered a debt. The effect on the owner is that he will have a bad reputation to lenders. Yes, it will give you a bad credit. If it will be reported to a credit reporting agency, you will have difficulty making a loan in the future.


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A couple of bad credit lenders who typically loan to people denied by traditional banks are AmeriCash and Downs Financial.


What are some home loan lenders for people with bad credit?

There are lots of places online where someone can find home loan lenders for people with bad credit. Some of these home loan lenders are Realtor and FHA.


If I have bad credit, will anyone loan me money?

You can get a credit report review done and then lenders will be able to see why you have bad credit. If you have a steady income and you seem to be trying to pay off any debt then many places will still give you a loan regardless.


Has the increased rise in bad credit in the United States in the past five years decreased the number of home loans lenders have provided?

No it hasn't. Instead the lenders are issuing bad loans and putting the new home owners in a tough situation. It's bad business for all involved.


How can i obtain a list of bad credit lenders?

There are numerous bad credit lender websites on the internet. Try a Google search for 'bad credit lenders' and you'll find many to choose from.


Is having debt good or bad?

To be in debt is usually considered bad.