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Is there a financial institution provides people with good credit the chance to take over pymnts on loans that have been defaulted on?


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Wiki User
2005-01-18 10:01:40
2005-01-18 10:01:40

Just contact the repo dept. of most major lenders.

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Would that be 'University ' by any chance.

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Second chance checking accounts exist for those who have credit problems. Typically, people who seek second chance checking accounts have been listed in databases like ChexSystems (a network where financial institutions report mishandled savings and checking accounts) that make it difficult to open a regular checking account. Luckily, second chance checking accounts give customers a second chance to prove themselves to credit bureaus and financial institutions. Visit the websites offinancialinstitutions. Bank and credit union websites may have information regarding offers for second chance checking accounts. In addition, each financial institution may follow its own rules about opening second chance checking accounts. Some may even allow you to open regular checking accounts with past credit problems if you meet certain criteria. Compare the features of second chance checking accounts. These types of accounts offer many of the same features that regular checking accounts do, including online bill pay, personal checks, check tracking, ATM withdrawals, direct depositsand online banking. However, some financial institutions may offer extra, free and beneficial services aimed at those with past credit problems. Look for second chance checking accounts that offer financial advice and customer service, as these benefits show that the financial institution is interested in helping its customers get back on track. Know what restrictions you're in for. Financial institutions commonly place at least one restriction on their second chance checking accounts. The restriction can range from a bar on personal checks or an ATM card. Make sure the restriction is something you can live with. Take deposits and monthly costs into consideration. Some second chance checking accounts require a substantial deposit before an account is set up. Financial institutions have also been known to charge monthly fees to use the account. If a second chance checking account requires any of these fees, research the terms and conditions of your account for promises of refunds or fee waivers once you have established yourself as a good customer. Decide on a financial institution to start a second chance checking account with. Sign up for a second chance checking account using the financial institution's website.

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Most of the major financial institutions offer the Second Chance Checking Account. Some examples include Scotiabank, Wells Fargo, and Central National Bank.

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Simple, have a great credit score! While all lenders differ slightly in what they consider a top-tier credit score, typically, if you have a score over 760 and stable household income, you have a better chance of getting approved for the advertised rate that a financial institution offeres.Type your answer here...


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