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This specific reason does not necessarily means something negative on your credit report. For instance, you can have an active but not fully paid loan on your account. Even if you are nearly finished with your payments, the creditor may denied an application based on that information. Keep in mind that new credit approval are based on the borrower's ability to repay the dept. Therefore the financial institution will not approve new credit if your debt its already too high and they consider you would not be able to repay along with the existing debts. However there is still hope for those who are nearly finished paying off their loans. You can contact the financial institution and ask for reconsideration, there are phone numbers you can call to speak directly to a credit analyst. Explain your situation and how you're nearly finished with your debt or you can simply wait to pay off the loan and then give it another try. Also, some college student can get this reason for denial. Because they are currently taking loans or took loans while attending school. Again contact the financial institution and ask for reconsideration. Good Luck!
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Is your balance on a consolidation loan calculated based on outstanding balances or revolving credit?
The balance on a consolidation loan is based on the outstanding balances of your debt, not on the total amount of your revolving credit lines.
What are the disadvantages of taking out credit card loans?
Any credit card is a loan. The disadvantages of taking out this type of loan include high interest rates and fees on balances, annual fees applied to most credit card loans, and a high rate of interest on cash.
Can you still get a car loan even if you have bad credit?
A car loan is considered a personal loan. While bad credit makes it harder to get any loan, individual car dealers decide whether they will allow a car loan with bad credit. A personal loan is an unsecured loan.
What are the fees charged by Speedy Cash?
"Speedy Cash breaks downs fees by state, loan amount and loan length. Some states have higher maximum loan amounts than others and some have different loan amounts. You would have to visit their site to get detailed information."
How do you find out how much you owe in student loans?
Go to The U.S. Department of Education's National Student Loan Data System (NSLDS). This site allows you to access information on loan and/or federal grant amounts, your loan status (including outstanding balances), and disbursements made. Go to www.nslds.ed.gov. When I used www.nsld.ed.gov it did give me the information once I found out what my "pin number" was. Then the pin number had to be activated before it would work on this site.
What does derogatory public record or collection filed mean?
what does this mean SERIOUS DELINQUENCY, AND DEROGATORY PUBLIC RECORD OR COLLECTION FILEDNUMBER OF ACCOUNTS WITH DELINQUENCYTOO FEW ACCOUNTS CURRENTLY PAID AS AGREEDPROPORTION OF LOAN BALANCES TO LOAN AMOUNTS IS TOO HIGH
Is your balance on a consolidation loan calculated based on outstanding balances or revolving credit?
The balance on a consolidation loan is based on the outstanding balances of your debt, not on the total amount of your revolving credit lines.
What are the disadvantages of taking out credit card loans?
Any credit card is a loan. The disadvantages of taking out this type of loan include high interest rates and fees on balances, annual fees applied to most credit card loans, and a high rate of interest on cash.
Can you still get a car loan even if you have bad credit?
A car loan is considered a personal loan. While bad credit makes it harder to get any loan, individual car dealers decide whether they will allow a car loan with bad credit. A personal loan is an unsecured loan.
How does a muscle contract for small amounts of work as opposed to large amounts of work?
muscles don't usually need to hire for help. They do their own work. ATP is imported from bodily functions. But thats not what you asked. For small amounts of they usually call that one guy with the overalls. He does a pretty good job. For large amounts of work, they usually take out a high interest loan and hire out to the lowest bidder. They then borrow money from family members to pay back the high interest loan. you know what I mean?
How does a school loan consolidation work?
A school loan consolidation is useful if a person has multiple loans. Each of the loan balances is put into one loan with one payment. This can result in a smaller monthly payment which saves money.
Debt Consolidation?
Debt Consolidation Should you consolidate your debt? This calculator is designed to help determine if debt consolidation is right for you. Fill in your loan amounts, credit card balances and other outstanding debt. You can then see what your monthly payment would be with a consolidated loan. Try adjusting your terms, loan types or rate until you find a consolidation plan that fits your needs - and most importantly your budget!
What are the fees charged by Speedy Cash?
"Speedy Cash breaks downs fees by state, loan amount and loan length. Some states have higher maximum loan amounts than others and some have different loan amounts. You would have to visit their site to get detailed information."
How do you find out how much you owe in student loans?
Go to The U.S. Department of Education's National Student Loan Data System (NSLDS). This site allows you to access information on loan and/or federal grant amounts, your loan status (including outstanding balances), and disbursements made. Go to www.nslds.ed.gov. When I used www.nsld.ed.gov it did give me the information once I found out what my "pin number" was. Then the pin number had to be activated before it would work on this site.
Can you pay a consolidated student loan with high interest with a new student loan at lower rates?
Probably, but you are unlikely to be granted a large enough loan to refinance your consolidated loans. Yearly loan amounts are usually capped to your need for the current loan period (a year, usually) and you might not be able to borrow more than your current yearly educational outlay. But that depends on how large your conslidated loan is.
Who controls commerical loan rates?
There are multiple factors that affect commercial loan rates. Loan rates are controlled by predesignated amounts and changes in the economy.
Can you get a 6000 dollar loan with a 597 credit score?
That depends on the merchant, that your applying for the loan at. It's the merchant that makes the decision on approving/declining a loan. 597 score is probably consider high risk to the merchant because you probably have high balances and some slow payments on your credit bureau file. It's a 50/50 decision for the merchant but probably more closer to the decline side because if they approve the loan, your score will drop more because of having more debt.
