By taking time to pay your debts and improve your credit rating you can make yourself eligible for a good credit rating resulting in mortgage approval. Paying your debts in full will prove you are serious when applying to buy a house
If you have bad credit, getting a debt consolidation loan from your bank or credit union might be difficult. Some people may not have good credit, but not quite poor credit. If you have no major debts but still have so so credit you might be eligible for a loan from your bank.
If you have bad credit, there are still ways to get a credit card. For those with bad credit, secured credit cards or subprime credit cards might be your only options for getting one. These cards can charge extra fees and may let loaners take your money if you do not pay off the balance.
You will still be able to get a loan even with bad credit. You will probably have to pay more than someone who has good credit, but you should still be able to obtain a loan. The process is a little more intense and might take a little longer, but it should still be possible.
People who pay for everything in cash have no credit.
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
Yes you can have credit from before that might be a very bad credit score:(
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If one has bad credit then one can only buy a house if one can convince the mortgage lender that one is able to pay for it. This might need proof that one is paying off any debt and clearing the bad credit record efficiently.
If you have bad credit, getting a debt consolidation loan from your bank or credit union might be difficult. Some people may not have good credit, but not quite poor credit. If you have no major debts but still have so so credit you might be eligible for a loan from your bank.
It is still bad credit history.
If you are a Canadian citizen but have bad credit there are a number of companies who will still give you might give you a loan including Drivetime, 1 Month Loans, Fast Access and Bad Credit Canada Loans.
If you have bad credit, there are still ways to get a credit card. For those with bad credit, secured credit cards or subprime credit cards might be your only options for getting one. These cards can charge extra fees and may let loaners take your money if you do not pay off the balance.
You will still be able to get a loan even with bad credit. You will probably have to pay more than someone who has good credit, but you should still be able to obtain a loan. The process is a little more intense and might take a little longer, but it should still be possible.
People who pay for everything in cash have no credit.
A line of credit is not bad by it self. It would be the balance of the line of credit that might raise some questions.
If you have bad credit, there are still many places where you might acquire a car loan. These include sites such as Bad Car Credit, Fowlers Finance and Right Drive. Comparison site Money Supermarket also allows people who have been refused credit or with bad credit history to find car finance products, such as loans and has a search feature tailored to this purpose. Furthermore, it may be worth contacting a financial advisor at your bank to realise how you might improve your credit.
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.