Debt consolidating loans people poor credit

In addition, a much greater proportion of individuals with good credit earn higher incomes, suggesting that there’s a correlation between income and credit record.Age is also a determining factor when it comes to bad credit.

Even if you’ve never had a loan or credit card before you could end up with a poor credit rating because lenders can’t access any evidence to show that you could manage your borrowing successfully.Over a third of people who apply for bad credit loans plan to use them to deal with their debts.Conversely, people with good credit are more likely to apply for loans to help them buy a car.This means the rates they are offered are higher than they would be for someone with a good credit score.As you would expect, income and bad credit are closely linked.

Leave a Reply