I don't think there is an age limit, other than having to be 18. The creditor will just look at your grandmother's credit and determine that she has the money to make payments on a loan in case of default.
Reg B (Equal Credit Opportunity Act) specifically includes age in its list of no-no's. Provided a person has the capacity to enter into a binding agreement, then a lender cannot discriminate against a person's age. [They can use age to give more favorable terms. Maybe they give senior citizen's a lower rate - in that case they can use a person's age]
However that doesn't mean the loan is guaranteed either ... it just means they have to evaluate her using the same objective standards as they evaluate every other applicant.
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
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I don't think there is an age limit, other than having to be 18. The creditor will just look at your grandmother's credit and determine that she has the money to make payments on a loan in case of default.
Detroit Marathon, October 2009
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Fins is correct...if they are at least 18 and creditworthy with the financial means to act as a co-signer.
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Reg B (Equal Credit Opportunity Act) specifically includes age in its list of no-no's. Provided a person has the capacity to enter into a binding agreement, then a lender cannot discriminate against a person's age. [They can use age to give more favorable terms. Maybe they give senior citizen's a lower rate - in that case they can use a person's age]
However that doesn't mean the loan is guaranteed either ... it just means they have to evaluate her using the same objective standards as they evaluate every other applicant.
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