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The changing shape of the credit reporting industry: new technology, industry consolidation and challenges presented by pending reform of the Real Estate … Trends): An article from: Mortgage Banking
This digital document is an article from Mortgage Banking, published by Mortgage Bankers Association of America on September 1, 2003. The length of the article is 2692 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: The changing shape of the credit reporting industry: new technology, industry consolidation and challenges presented by pending reform of the Real Estate Settlement Procedures Act (RESPA) are all reshaping the business of credit reporting.(Industry Trends)
Author: Steve Grant
Publication: Mortgage Banking (Magazine/Journal)
Date: September 1, 2003
Publisher: Mortgage Bankers Association of America
Volume: 63 Issue: 12 Page: 85(4)
Distributed by Thomson Gale
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Question by April W: bad credit consolidation loan?
I need to find out where there are bad credit consolidation loan lenders. I’m looking to get rid of my credit card debt fast and get the type of loan to do that.
Best answer:
Answer by CatDad
You need to have good credit to get a real debt consolidation loan..
Debt consolidation also refers to a risky practice of debt settlement: deliberately defaulting on your credit cards to try to force your creditors to settle for less.
Stay away from any “debt consolidation” company that promises to cut your debt and payments in half through debt settlement….This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. You pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator’s fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances…You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment.
What do you think? Answer below!
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