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Hard to get Finance

Discussion in 'Finance & Banking' started by sahap, 4th Aug, 2015.

  1. sahap

    sahap Member

    Joined:
    23rd Apr, 2014
    Posts:
    6
    Location:
    Geelong
    This month will see the end of my Debt Agreement after a long 5 yrs , not that it makes any difference but my debt agreement had nothing to do with bad investments or spending what I didnt have it was more like medical bills etc .

    My question is how hard is it for me to obtain finance for investment purposes
    (Property ) or even for car , I wont go for credit cards anymore for a while not that they will give me one anyway .

    I am thinking of asking my own bank who the home Mortgage is with and had no defaults with them .
     
  2. Terryw

    Terryw Well-Known Member

    Joined:
    9th Jun, 2006
    Posts:
    653
    Location:
    Sydney
    If there is nothing on your credit report and you have never been bankrupt it should not affect you. You should be able to borrow as long as you can meet serviceability and deposit requirements.
     
  3. sahap

    sahap Member

    Joined:
    23rd Apr, 2014
    Posts:
    6
    Location:
    Geelong
    Finance

    Debt Agreement comes under Part IX of the Bankruptcy Act 1966 , so its not a full Bankruptcy but still leaves mark on your credit file