Hard to get Finance

Discussion in 'Loans & Mortgage Brokers' started by sahap, 4th Aug, 2015.

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  1. sahap

    sahap Member

    Joined:
    1st Jul, 2015
    Posts:
    7
    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 .
     
    sahap, 4th Aug, 2015
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

    Joined:
    18th Jun, 2015
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    41,932
    Location:
    Australia wide
    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.
     
    Terry_w, 11th Aug, 2015
    #2
  3. sahap

    sahap Member

    Joined:
    1st Jul, 2015
    Posts:
    7
    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
     
    sahap, 16th Aug, 2015
    #3
  4. Nick P

    Nick P New Member

    Joined:
    27th Mar, 2019
    Posts:
    1
    Location:
    Sydney
    If you're looking for some tips on how to get your next loan approved, my recent blog could help https://rightfinancial.com.au/home-loan-approval-tips/
     
    Nick P, 27th Mar, 2019
    #4
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