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Difference between revisions of "Loan and Credit Scams"
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* If you have poor credit, it is unlikely that any legitimate bank or other financial institution <span class="noglossary">will</span> give you a loan. Your credit history is one of the main criteria they use to determine whether you <span class="noglossary">will</span> be able to repay a loan. | * If you have poor credit, it is unlikely that any legitimate bank or other financial institution <span class="noglossary">will</span> give you a loan. Your credit history is one of the main criteria they use to determine whether you <span class="noglossary">will</span> be able to repay a loan. | ||
* If you can’t get a loan yourself, a friend, relative or employer may be willing to apply with you for a loan. Warning: If you co-sign for someone else’s loan, you are equally responsible for the debt. If the other person can’t make payments on time, you can be held liable for the loan and your credit record <span class="noglossary">will</span> be affected. | * If you can’t get a loan yourself, a friend, relative or employer may be willing to apply with you for a loan. Warning: If you co-sign for someone else’s loan, you are equally responsible for the debt. If the other person can’t make payments on time, you can be held liable for the loan and your credit record <span class="noglossary">will</span> be affected. | ||
* Get free or low-cost help with credit problems. If you’ve got bad credit or no credit, get advice on how to build a good credit record. See [[Sources of Help | * Get free or low-cost help with credit problems. If you’ve got bad credit or no credit, get advice on how to build a good credit record. See the [[Sources of Help for Consumers]] section for places that can help. | ||
==Bogus credit cards== | ==Bogus credit cards== | ||