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Reader’s Question:

Hello, hello! Is it true that my credit report will affect my future loan applications in Thornton, Colorado?

Aubrey

Thornton, CO

Yes, Aubrey, this is a practice common to many financing and lending institutions all over Thornton, Colorado and in the other parts of United States as well. If you have heard of the phrase “character investigation”, then you would know that lenders will look into your background and try to come up with your profile with just the limited information they have access to.

Because they have limited time to form a judgment of you, or to better state it, they have very limited time to get to know you better, they have no gauge on whether you are a responsible person or not. And so they will turn to information that will be accessible to them and that is your credit report. Lenders believe that there will be a recurrent pattern to someone’s behavior when it comes to paying (or not paying) their debts. If you have been a bad girl in the past (pardon the term), then most probably you will be again in the future. So yes, Aubrey, definitely your credit report plays a very significant role in your future loan applications in Thornton, Colorado.

Because of this, it is very advisable that you maintain your credit standing in good condition. And this is only fair, since there is really nothing free in this world, right? If you buy that great pair of shoes, you must know that it did not drop down from the sky, and that someone (read: you!) should pay for it. So the next time you see those Jimmy Choos, think twice if you want to swipe that card!

Tags: credit management, credit repair, credit reports