Turned away too many times as the result of poor credit?
Chances are you won’t be the first. With hundreds of credit and loan applicants
being turned away daily, it comes as no surprise that the current lending
market is changing. As the world witnessed the effects of the financial crisis
of 2008, the series of lending and borrowing were felt around the globe.
Specifically, borrowing limits got tighter, banks are now less inclined to give
out a loan with flexible terms and overall, lending seemed to come to a halt.
While the number one concern in lending still lies with the fact there are less
loans available, these stricter terms and conditions also
had the effect of turning away thousands of applicants with less than perfect
credit scores. Failed application after application, lenders are becoming
choosy. Rest assured, cleaning up your credit history could boost your chances
of obtaining credit.
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