How to Apply for a Loan and be Successful: Get a Credit Rating Check Prior to Submitting Your Loan Application
Each time a consumer makes the decision to apply for a loan a record of the search remains on a personal credit report for a period of 12 months. If too many loan applications are made, it will set off alarm bells with lenders. It is imperative that a borrower checks their credit report, is realistic about their repayment history and then opts to apply for a loan that has a greater chance of being accepted.
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