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nathalia
Apprentice
Joined: 17 Jun 2005
Posts: 9
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 Posted: 10/05/07 - 10:11 Post subject: |
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| I would like to try to avoid prepayment penalty, I’ve tried to agree any other form of guarantee, but my bad credit seems to be the main reason for me to pay for this thing. People told me that this might happen. It has no logic, I have bad credit and I also have to deal with 5% prepayment penalty, how does he think I’m going to pay for this? Have any tips? |
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arvin
Apprentice
Joined: 02 May 2005
Posts: 6
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| Posted: 11/24/07 - 02:37 Post subject: |
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| I don’t think that you have any choice. Probably that is because you are not a borrower which most of lenders wish for. There has to be some guarantee, as you said, risk for them increases if you have bad credit. Therefore, they see bad chances for you to complete the repayment. Anyway, if your credit score improves in the meantime you can probably lower your penalty that’s the plus side. |
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