A column by Margaret H. Johnson ACE, RQIC, a thought leader in the field of credit education and money management.
Payroll Loans
Credit Reporting
When you apply for credit, the lender must estimate the probability that you will be able to repay the debt as scheduled. What does a lender need to know in order to predict your reliability and your capacity to repay this debt? The creditor starts by assessing your application for credit, in which you provide quite a bit of information about yourself, your residence, occupation, bank, salary, mortgage, and consumer debts. In addition, the lender may want to know how you have handled previous credit transactions; such information can be obtained from the credit bureau.
Remember, if you are experiencing financial difficulties do not wait. Speak to a professional today!
Margaret H. Johnson ACE. RQIC is president of Solutions Credit Counselling Service Inc. offering 100% confidential and unbiased credit counseling, debt consolidation and credit education services. She can be reached by e-mail at This email address is being protected from spambots. You need JavaScript enabled to view it. or call toll-free in Canada - 1.877.588.9491.
If you are a woman in debt, speak with Women and Money first. We specialize in helping women with their personal and business finance. Money management advice you can count on!
