multiple loans with different companies
Date: Wed, 06/10/2009 - 00:23
What happenes if i take multiple loans with 5 banks for small amounts like 2000 pounds? Can they ceck if i already have another loan taken earlier with a rival bank?
or if i manage to take the loans in the same day let`s say , do all my loans appear in my credit report?
or if i manage to take the loans in the same day let`s say , do all my loans appear in my credit report?
The creditors can track your loan through your credit report, be
The creditors can track your loan through your credit report, because whenever you are offered a new loan, the creditor reports it to the bureaus. Now, before offering you a loan, the creditor pulls out your credit report to check your creditworthiness. Once they pull your your report, they can clearly see the status of your previous loan.
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Can they check if i already have another loan taken earlier with a rival bank? |
Yes, they can check it from your credit report, but your creditworthiness will not be affected because of the fact that your previous loan account was from a rival bank.
