fillet on 22 November 2012
| Nsanity said: So, will this effect them getting loans? |
It will affect their ability to get loans, the increase the amount charged for credit received and likely add extra stipulations to any contract in loans received.
It's basically the same as someone with bad credit although nowhere near as unsafe, it's still similar because the loan amounts would obviously be astronomical relative to a single person applying for credit.
1. Loan amounts offered would be reduced.
2. Intrest payments increased.
3. Possibility of additional security needed for a given loan in case of defaulting.
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