This is certainly an occurrence that is rare however it implies that you’ve got defaulted or otherwise not reimbursed your loan as agreed. It disqualifies you against getting another loan until such time you pay off the original one out of full. If you fail to pay your loan back on time, speak to your loan provider straight away and discover when they can extend your loan or break it into smaller re re payments. Never ever remove one or more loan at the same time, spend down the mortgage before considering a differnt one.
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