Banks and most lenders will check your credit score when you apply for a loan. Don’t be surprised if you have multiple and varying credit scores though as every lender uses a distinct scoring model. But this could lead to your fast loan Edmonton Alberta being denied. So, what do you do in this situation?
3 Options When Your Loan is Denied
- Apply for a title loan. While credit scores are a big factor when you apply for a bank loan, it doesn’t carry the same weight with a title loan. It’s because this secured loan requires collateral, which comes in the form of your vehicle. Your refinance car loan will also be determined by the vehicle’s value, so the lender is assured that their investment is covered.
- Look for other alternatives. There are other avenues open to borrowers. Asking for help from friends and family is a no-brainer. You can also pawn your valuables or take on another job. Some apply for membership to a credit union. You can also try to qualify for a credit card, but make sure they have low promo rates.
- Work on improving your credit. It might take some time but it’s worth a shot. Make sure you pay all your bills on time, even if it’s just the minimum. You should also get your credit card debts down to a manageable level.
Lowest Possible Payment in the Industry
You can get the help you need with Premier Loans Canada. The company offers loans as high as $100,000, with terms of up to eight years. They also have the lowest interest rates and monthly payments in the industry. Log on to their website to apply or call their toll-free number at 1-855-965-1650.
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