STUDENT LOAN DEBT
Question: it really hurts your credit and if you try to buy a house, you >>have to pay any charged off debts.
>if the bank sees any chargeoffs on your credit report, your going to >have a very difficult time getting them to loan you any money. You may >also have difficulty getting certain jobs that require a credit check >as a prerequisite for employment.
Answer: one other thing i forgot to mention: in some US states, certain automobile insurance underwriters are starting to offer lower rates to people with “GOOD credit”, and higher rates to people with “BAD credit”.
Seems as though when the insurance companies group all the people together that have a “good credit history”, they have a much lower rate, as a collective group, of insurance claim payouts per person, than the group of people with a “bad credit history”.
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Filed under: Bad Credit Loan
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