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Author:
Bev Dodd
Web Site: http://www.family-refinance-consolidation-loans.com
A
loan with bad credit: sympathetic lenders
Different
lenders may apply different standards to credit worthiness when
you apply for a loan with bad credit. Also legitimate lenders
never ask you for a fee when processing a loan with bad credit
application, although they may for a credit report. We’ll
discuss this more below.
Applying
for a loan with bad credit, remember different lenders may apply
different standards in rating your credit worthiness. Many
credit files contain inaccuracies that could affect your credit
rating, and even lead to the rejection of a loan application.
That’s why reviewing your credit report beforehand may be a
good idea, giving you time to dispute any items that may be the
result of simple human error or a technical glitch.
To
make a loan with bad credit more attractive to a potential
lender, you may wish to consider reducing the number of
revolving charge accounts that are listed as active on your
credit report. Lenders will sometimes view too much revolving
debt as a negative when considering a loan application. Make
sure your creditor notates the account “closed at consumer’s
request” otherwise; a prospective lender might assume the
creditor closed the account for other reasons.
If
you apply for a loan with bad credit, it is accepted and common
practice for lenders to request payment for a credit report or
appraisal. However, legitimate lenders never ask you to pay for
processing your application.
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