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How can people with bad credit get a loan big enough to buy your new car from you to take payments off your name?
Becareful of the situation, if the other party has bad credit and they got approved for a bad credit car loan. In case he default on his payment, you have to make sure you will not be financially responsible as well. For more information you can visit http://www.autocreditfinancial.ca good luck.
What else can I help you with?
What makes loan companies hesitant to offer a loan to individuals with bad credit?
Loan companies are generally hesitant to offer loans to individuals with bad credit because people with bad credit usually make late payments if they make payments at all. If one wants a loan one should prove themselves with good credit.
What are the duties of a guarantor?
When a person does not have good enough credit to secure a loan or financing on their own, they need a guarantor. A guarantor is a co-signer, and that means if the person taking out the loan does not make the payments, then the guarantor has to make the payments.
Can you refinance and remove the co signer?
Yes, if your credit rating has improved enough to get a loan approval on your own.Yes, if your credit rating has improved enough to get a loan approval on your own.Yes, if your credit rating has improved enough to get a loan approval on your own.Yes, if your credit rating has improved enough to get a loan approval on your own.
How can poor people get credit for a home loan?
Contrary to popular belief, its not impossible for poor people to get a home loan. All you have to do is get better credit, usually by making payments on time, and then apply for one as everyone else.
How can a primary buyer get the cosigner off the loan you wanted to cosign for your daughter but she didn't have enough credit so to build her credit you put her on as a cosigner how can you get her o?
The LENDER will have to remove any co-signor from the loan. Your only option is to have your daughter refinance the loan in her name only. She might be able to do this, given enough positive credit history on the existing loan and proof that it was her making the payments on time.
What makes loan companies hesitant to offer a loan to individuals with bad credit?
Loan companies are generally hesitant to offer loans to individuals with bad credit because people with bad credit usually make late payments if they make payments at all. If one wants a loan one should prove themselves with good credit.
What are the duties of a guarantor?
When a person does not have good enough credit to secure a loan or financing on their own, they need a guarantor. A guarantor is a co-signer, and that means if the person taking out the loan does not make the payments, then the guarantor has to make the payments.
Can you refinance and remove the co signer?
Yes, if your credit rating has improved enough to get a loan approval on your own.Yes, if your credit rating has improved enough to get a loan approval on your own.Yes, if your credit rating has improved enough to get a loan approval on your own.Yes, if your credit rating has improved enough to get a loan approval on your own.
How can poor people get credit for a home loan?
Contrary to popular belief, its not impossible for poor people to get a home loan. All you have to do is get better credit, usually by making payments on time, and then apply for one as everyone else.
How can a primary buyer get the cosigner off the loan you wanted to cosign for your daughter but she didn't have enough credit so to build her credit you put her on as a cosigner how can you get her o?
The LENDER will have to remove any co-signor from the loan. Your only option is to have your daughter refinance the loan in her name only. She might be able to do this, given enough positive credit history on the existing loan and proof that it was her making the payments on time.
Where can you get loans with a bad credit score?
Sometimes it can be hard to get a loan with a bad credit score. A low credit score means that you are delinquent on payments, so banks might be more hesitant to give you a loan in fear that they may not get their payments. Call banks near you and ask if they work with people who have low credit scores.
How much will cosigning a student loan lower your credit score?
Hi-Cosigning a loan will not lower your credit score unless payments are late, or if the borrower defaults and you cannot make the payments yourself. A cosigner is equally liable for the loan, so if you cannot make the payments, you should not sign.The way that cosigning will affect your credit report is in your debt-to-income ratio. The loan you cosign will show up as part of your debt, so a lender may not want to loan you more money if it looks like your debts are too high.Something that people often overlook though, is that cosigning a loan can actually improve your credit rating if the borrower makes his payments on time. You will get credit for making payments and paying off this debt as if it were your own.
What makes your credit score drop?
Late payments, No-Payments, Over the credit limit (Maxed out credit cards), Not having a good mixture of credit (Revolving Account, Installment Loan, Home Loan, Etc), and past history.
How does the credit system work for automotive?
The automotive system is linked to your overall credit. It is easier to get a loan if you have good credit and your payments will generally be smaller. You can still get a vehicle with bad credit but it might be difficult getting a loan and the payments will be higher.
Is it good to have a loan when you have bad credit?
It will be hard to get a loan when you have bad credit. However, if you already have a loan and have bad credit on other things such as credit cards, then keeping your payments current on your loan can help improve your bad credit over time.
If a parent cosigns on a car loan with hisher child and the child does not make payments can the stepparent be held responsible or have their credit rating impacted if the payments are not made?
The cosigner is responsible for the loan and payments if the signer does not pay or keep up the payments. Your credit rating can be affected.
Can co-signing affect my credit score?
You should understand what you're doing when you co-sign anything for anyone. You are guaranteeing that if they don't make their loan payments or (rent payments if you co-sign a lease), then you agree to be personally responsible for making those payments and paying off the loan.It may take a while for you to become aware that the loan is in default if you are trusting that the primary borrower will make all the payments on time without any monitoring. Remember they didn't have good enough credit to qualify for a loan based on their own credit history. That default will be reported to your credit record since you are equally responsible for the loan. If you don't pay off the loan your credit will be ruined.Co-signing carries with it a huge risk.
