Posted on December 17th, 2009
Many people who have poor credit ratings often seek others with better credit ratings to cosign their loans. By getting a cosigner, the borrower increases his or her chance of securing a loan.
From a creditor’s perspective, a cosigned loan is less risky because the creditor can collect from more than one person if the loan is not repaid. However, from the cosigner’s perspective, cosigning a loan may expose them to unnecessary risk.
If you have questions about negotiating your debt, contact the Birmingham debt negotiation lawyer Paula Greenway at 205-324-4000.
Posted on October 30th, 2009
While not everyone’s credit application will be accepted, everyone has the right to know why. As required by the Equal Credit Opportunity Act, creditors must tell people why their credit request was denied.
The reasons for denying credit to someone can vary. For instance, the person may not have a credit file with a credit reporting agency. Also, the person’s credit file may report delinquent obligations.
If you or anyone you know has debt problems, contact the Birmingham debt negotiation lawyers of Paula Greenway at 205-324-4000.
