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Having a bad credit loan negatively affects a person in many ways. Having bad credit enables a person from being able to obtain other loans including those having to do with home financing, vehicle financing, etc.

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Q: How does a bad credit loan affect a person?
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Related questions

Where could a person with bad credit get a business loan?

A person with bad credit could get a business loan at various banks and companies. Some of the companies that offer a business loan for people with bad credit are Venture Capital, Prosper and Lending Club.


Can you get an unsecured loan with bad credit?

It is very difficult to get an unsecured loan with bad credit. This is because of the nature of the loan. When a person gets an unsecured loan, it means there is no collateral to back the loan up with.


How does bad debt affect your chances of getting a loan?

A bad debt can affect your chances of getting a major loan such as a house loan. Bad debts lower personal credit ratings and banks are opt to reject loan applications because of this.


Where can you get a bad credit loan?

Yes, you can get Bad Credit Loan.


Does your bad credit rating affect your children if they want a loan?

only if your cosigning


If someone with great credit co signs for some with bad credit does it help the person with bad credit?

The person with bad credit pays back the loan that the good credit helped him with in good payment statis. Have payment met on time or a little early will help the person with bad credit. The person with good credit is very generous with his credit. If the bad credit person does not pay on time or falters the loan. the Good credit person will have a problem . Not the bad credit person. Helping someone get back on their feet is a good thing. Make sure that your Good credit is not in jepordy.


Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?

The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.


Will a bank give you a school loan even if you have bad credit?

No, most banks will not give a person a school loan if they have bad credit. The person may qualify for other programs if turned down.


What bank you can go to get a bad credit loan you and your wife have bad credit?

Yes, you can get Bad Credit Loan.


Get bad credit loan in Ontario?

Yes, you can get Bad Credit Loan.


Can a person with very good credit be affected by a person with bad credit on a car loan?

geeze don't be stupid


Can a person with very bad credit get a car loan if they have a co signer with excellent credit?

Yes they can if they have had another loan with your name and their name.