Wide Spread Myth

Decent Essays
There is a wide spread myth that people with bad credit score and those who have filed bankruptcy will never get a credit card, car loan or home mortgage again in their life. Whatever the origin of this thinking, the fact is that even after having the worst kinds of credit, or even one day after filing bankruptcy, you can still get a credit card, a car loan or a home mortgage loan.

Effects of Bad Credit on Interest Rate

People having bad credit should remember that while they are eligible to receive any kind of loan, but they won't get it at the same interest rate at which a person with good credit would get. On the basis of the intensity of their problems, the experiences of the people with bad credit will vary from each other.

Some problems

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