bank that is giving me the loan is considering me but they want to ask why I have all these bad statements on my credit what should I say so that they will approve me?
2006-09-22 04:50:11 · 8 answers · asked by sexy chocolatecakes 2 in Business & Finance ➔ Personal Finance
I agree with Beautiful_G - tell them the truth, but also let them know that you've learned from past mistakes. And when you get the loan, make it an opportunity to prove them right for trusting you - pay it back on time, and your credit will improve, so you never have to worry about this again. It will feel great. Good luck.
2006-09-22 07:27:37 · answer #1 · answered by banana_fan 2 · 0⤊ 0⤋
If your negligence was due to unforeseen circumstances such as illness, death of a provider, or divorce, just tell them that. Banks understand that life happens in the midst of living and sometimes we can't always fulfill our obligations per agreement. Also, you can write a consumer statement regarding your credit and send it to the three credit bureaus which gives potential lenders a snapshot of who you are and what happened to you that caused you to be delinquent.
If it's a case of you simply overextended yourself, just say that. Whatever the case may be, make sure that you have learned from past mistakes and be willing to work with the lender. They might want you to set up auto withdrawals from your bank for your payments or something like that. You might even have to find a co-signer. Do whatever you have to to make the lender feel that you won't be a high risk customer, but like the other person said, don't lie.
2006-09-22 05:04:24 · answer #2 · answered by Beautiful_Brown_Eyed_Girl 2 · 1⤊ 0⤋
Pay off your collections and make your payments on time and in 3 months your credit will return to normal,The other alternative is to use companies such as VFC or wells Fargo but the interest rate will be substantially higher
2006-09-22 05:08:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Just give them some good excuses. Convince them you CAN make the payments. If you plan on keeping your job and have had it awhile, I would think theyd do it.
2006-09-22 05:01:12 · answer #4 · answered by ~~ 7 · 0⤊ 0⤋
The fact that you have to make up something means that you are not responsible enough to make the payments anyway. Hopefully they turn you down.
2006-09-22 07:15:29 · answer #5 · answered by Jim R 5 · 0⤊ 1⤋
the truth will get the best results
2006-09-22 04:58:35 · answer #6 · answered by norsmen 5 · 0⤊ 0⤋
What's wrong with the truth?
2006-09-22 04:53:09 · answer #7 · answered by ambivalent_beauty 2 · 1⤊ 0⤋
Ya know, the truth never hurt anyone.....
2006-09-22 04:57:56 · answer #8 · answered by YDoncha_Blowme 6 · 0⤊ 0⤋