DO YOU NEED DEBT CONSOLIDATION COSIGNER OR NOT?
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!
ď ś 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 lender’s side that could be asked from your debt cosigner?
ď ś 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.
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, it’s 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.
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.
Contact Us Red Deer #924, 4747 67th St, Red Deer AB, T4N 6H3 Telephone: (403) 337-4000 Fax: (780) 666-9721 Email: info@credit720.ca
Edmonton North 203, 12930 50 St, Edmonton, AB T5A 4L2 Phone: 780.666.2600 Email: info@credit720.ca
Edmonton South 9856A 33 Ave NW, Edmonton AB T6N 1C6 Telephone: (780) 666-2600 Fax: (780) 666-9721 Email: info@credit720.ca
Lloydminster (Alberta & Saskatchewan) Unit 102, 4802 -50th Avenue, Lloydminster, AB T9V 0W5 Phone: 403.337.4000 & 780.666.2600 Email: info@credit720.ca
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