what happens if i dont pay my car loan

What happens if i dont pay my car loan

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Depending on the card you are applying for, the issuing bank may want to see several years of on-time payments. Looking at a credit report gives the lender a more detailed picture of http://daynewday1.com/arkansas/scott-credit-union-auto-loan.php as a credit customer.

Your credit history will paint a much better picture than a single credit score. Your income: When you apply for credit cards, your credit score is not the only thing that is considered. They will also ask for your income statements to make sure that you can make payments on time. Credit applications always ask how much you make each year. The lender wants to make sure you have a what happens if i dont pay my car loan income before extending you a line of credit.

Depending on the type of card you apply for, the bank will ask for additional documents like income tax returns to support the annual income you write on the application. Your income can be a big influencer in the credit limit you what happens if i dont pay my car loan granted by the credit card issuer. The company you work for: Also, an important factor.

If you work at established companies, the credit card issuer will be more confident in issuing a line of credit to you. It shows that you have a stable job with a steady income.

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