DO YOU NEED DEBT CONSOLIDATION COSIGNER OR NOT? - PowerPoint PPT Presentation

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DO YOU NEED DEBT CONSOLIDATION COSIGNER OR NOT?

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Having a low credit score while planning to consolidate debt alongside a personal loan might lead to your lender requesting you to opt for a debt consolidation cosigner before the approval of your application. But the main question would be: Is it right to consider your family member or friend for financial debt help?  Even If you decide on it, what would be the requirements from the lender’s side that could be asked from your debt cosigner? – PowerPoint PPT presentation

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Title: DO YOU NEED DEBT CONSOLIDATION COSIGNER OR NOT?


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DO YOU NEED DEBT CONSOLIDATION COSIGNER OR NOT?
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  • About us
  • Credit720, our goal is to protect your best
    self-interest and not the creditors. Debt
    Consolidation, Consumer Proposal - Calgary
    Edmonton Region.
  • Looking to Get Out of Debt? Best Debt
    Consolidation, Consumer Proposal, Credit
    Counselling Services in Calgary, Edmonton,
    Lloydminster, Alberta. Call Now!

3
  • Do you Need Debt Consolidation Cosigner or Not?
  • Having a low credit score while planning to
    consolidate debt alongside a personal loan might
    lead to your lender requesting you to opt for a
    debt consolidation cosigner before the approval
    of your application. But the main question would
    be Is it right to consider your family member or
    friend for financial debt help?  Even If you
    decide on it, what would be the requirements from
    the lenders side that could be asked from your
    debt cosigner?

4
  • Insufficient credit score
  • After looking through certain aspects, your
    consolidation lender might as well lend you the
    money. However, you are also expected to pay the
    money back. Lenders often rely on people who have
    a decent background of repaying the loan. If you
    have a bad credit score, then try acquiring
    credit assistance or opt for credit.

5
  • Lack of income
  • Instability in income is yet another factor that
    leads the lenders to feel reluctant in offering
    you loan money. With insufficient income, there
    are lesser chances of you supporting those loan
    payments.
  • Too much debt
  • Instability The lender could also deny your
    application if he feels that your total debt is
    too high to lend you that much amount of money.
    Because finally, its all about shifting of the
    debt and not precisely a debt relief situation.
    In such cases, you will see that even debt
    management services might feel hesitant to offer
    help.

6
  • Key benefits of having a cosigner
  • Chances of your application approval increases.
  • Significant interest relief and possible debt
    negotiation.
  • Reduction in the amount of security deposit to be
    made.
  • Provision of potential assets required.

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Contact Us
Red Deer 924, 4747 67th St,Red Deer AB, T4N
6H3Telephone (403) 337-4000Fax (780)
666-9721Email info_at_credit720.ca Edmonton
South 9856A 33 Ave NW, Edmonton AB T6N
1C6 Telephone (780) 666-2600 Fax (780)
666-9721 Email info_at_credit720.ca
Edmonton North 203, 12930 50 St, Edmonton, AB T5A
4L2 Phone 780.666.2600 Email info_at_credit720.ca
Lloydminster(Alberta Saskatchewan) Unit 102,
4802 -50th Avenue, Lloydminster, AB T9V
0W5 Phone 403.337.4000 780.666.2600 Email
info_at_credit720.ca
http//www.credit720.ca
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