Rather, we need regulation to ensure that
creditors lend more responsibly.
Not exact matches
If you can handle a good mix of debt obligations,
creditors are
more likely to
lend to you, and your FICO score is liable to benefit.
The truth in
lending act applies to individuals as well as businesses, and four conditions must come into play: the lender must offer credit to the customer; the entity must make offers of credit
more than 25 times per year or five times per year for transactions secured by real estate; credit transactions must include finance charges or written contracts covering
more than four installment payments; and
creditors must extend the credit for personal, family, or household reasons.
In that time frame Trustees have gained experience understanding what
creditors want, banks &
lending institutions are
more familiar with the option and are
more likely to participate, and consumers themselves are becoming
more aware of a consumer proposal as an alternative.
Having a record of good debt payments will prove that you can handle future debt well, making
creditors more willing to
lend to you.
As soon as the customers and
creditors of a company like Lehman start to wonder whether it might collapse, they become less willing to
lend or to trade, and
more likely to demand their money back.
The Bureau believes that
creditors will be able to provide reliable estimates based on the six items that together constitute an application under the final rule and that, by receiving cost estimates earlier in the mortgage
lending process, consumers will have the opportunity to compare several different offers at the same time or
more time to shop for a better deal.