What applies if you want to borrow but have debts

Having payment notes is often a big problem for those who want to borrow money. If you still have a debt with Good Finance, it will be even harder to borrow some money. However, there may be some options for those who want to borrow money.

Guarantor

Guarantor

The first option is if someone is willing to step in as guarantor of your loan. This means that this person claims to be ready to repay the loan in case you do not pay your repayments.

In order for someone to be approved as guarantor, this person must have a good finances that will make the lender sure of getting their money back. Thus, this person may not have any payment notes eg.

It is important to be careful before taking in a guarantor so that you do not risk anything unnecessarily. And then we do not talk about money but more friendship, etc. as it is often a friend or relative who enters as guarantor. Therefore, if you are not sure of being able to repay the loan, you should be very careful before any money is borrowed.

Security

cash

Another alternative to borrowing if there is still debt at Good Finance is if you have some form of collateral. This is usually a housing that is not fully mortgaged. It is the question of a mortgage, which is the safest loan, so the chances are pretty good to borrow money. Then it should be said that far from all lenders may think to lend money iaf but the chances are better.

Hard to borrow

Hard to borrow

Unfortunately, as we have said, it is difficult to borrow money if there are debts with Good Finance and this is not particularly strange, since in the eyes of the lenders there is a great risk of lending money to someone who still has debts that have not been repaid before. There are, as we mention, chances, but you have to be aware that borrowing money can be very difficult.

If you do not have anything to offer as collateral or any guarantor who is willing to put up, it is probably almost impossible to borrow any money.

To repay your debts then the tip is instead that you do everything else you can to repay your debts at Good Finance. For example, you sell things in your home or make big savings on monthly costs.

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