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If two people apply for loan and one of the persons has bad credit while the other has good credit does the creditor average the credit out or do they go with the one with the best credit or the worse?
Wiki User
∙ 15y ago
Most investors look at the middle score of the person with the worst credit.
Both borrowers are considered, but the borrower with the lowest credit will have a big impact on the underwriting decision and the interest rate you get.
Wiki User
∙ 15y ago
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What is the average credit score by age group?
The average credit score is charted showing the relationship between age and the average credit scores. Younger people have lower credit scores than older people.
How much money do the average people have?
The average persons have different jobs and there for they bring in different income. :)
How do you settle debt with credit card?
Debt CAN be settled with credit card debt and other unsecured debts. Negotiating a settlement is between you and your creditor and settlements have happened for millions of people and helped them get out of debt.
Can a secured credit card raise your credit score?
Yes it can. A secured credit card is for people who is trying to rebuild their credit or has been denied credit in the past. Most of the time a secure credit card is money that you set aside to give to the creditor as collateral which is $300. Then once approve which is most of the time, the creditor will give you a secured credit card in which you try to use it and pay either the minimum due or the entire balance. If you do not pay any balance, the company that has your collateral will keep the $300.
Which companies offer mortgages for persons with a bad credit?
There are a few ways for people with bad credit to get mortgages. The following companies offer mortgages for people with bad credit: E-Loan, MortgageCreditProblems, and Ameriquest Mortgage Company.
What is the average credit score by age group?
The average credit score is charted showing the relationship between age and the average credit scores. Younger people have lower credit scores than older people.
Problems With the Credit Bureau?
If you're having problems with a credit bureau, then you're not alone. Each year, millions of people are inconvenienced by mistakes in their credit report. f you've already contacted the credit bureau about your problem and didn't get it taken care of, then you can still call the creditor who reported the information. By letting the creditor know that they've made a mistake, you may be able to get them to send in a corrected copy of your document. Be sure to tell the creditor how you've been inconvenienced, and if that doesn't work, then remind them of your rights.
How much money do the average people have?
The average persons have different jobs and there for they bring in different income. :)
How do you settle debt with credit card?
Debt CAN be settled with credit card debt and other unsecured debts. Negotiating a settlement is between you and your creditor and settlements have happened for millions of people and helped them get out of debt.
Can a secured credit card raise your credit score?
Yes it can. A secured credit card is for people who is trying to rebuild their credit or has been denied credit in the past. Most of the time a secure credit card is money that you set aside to give to the creditor as collateral which is $300. Then once approve which is most of the time, the creditor will give you a secured credit card in which you try to use it and pay either the minimum due or the entire balance. If you do not pay any balance, the company that has your collateral will keep the $300.
Which companies offer mortgages for persons with a bad credit?
There are a few ways for people with bad credit to get mortgages. The following companies offer mortgages for people with bad credit: E-Loan, MortgageCreditProblems, and Ameriquest Mortgage Company.
Can disabled people be made to repay defaulted auto loans or leases or voluntary surrender of a auto?
Disability does not negate the responsibility to pay for a loan. A defaulted loan can damage your credit and yes, the creditor still expects the money. Sometimes an attorney or Consumer Credit Counselor can help smooth the way when dealing with a creditor.
What are some finance companies that say yes to persons with bad credit?
With the recession, people's credit ratings have become increasingly poor and a number of agencies now offer credit to such people. These companies include Lloyds, Wellcome and ING.
What type of car loan is the best?
Every car loan is different, which one is best depends on a persons situation. There are car loans that have a very low finance rate for people with good credit. People with less than great credit can still get a car loan but usually at a higher interest rate. A persons driving record, credit score, and criminal record can all be used to determine a persons car loan details.
What resources are out there to help get people out of debt?
There are several resources to help get people out of debt. Some of these include: talking to a credit counsellor, creating a consumer proposal with one's creditor, and filing for a personal bankruptcy.
Will your credit card be canceled after chapter 7?
Once your bankruptcy has been dismissed, you can apply for and receive new credit. It is not recommended but many people do get new credit cards after filing. Usually a company included in a bankruptcy will not extend credit to you again.
Is 525 a good credit score?
No, it is below average and people with that credit score have a hard time getting credit at a bank for a decent interest rate.
