), may be limited to a maximum of 36 percent of your gross monthly income. Have a good credit score. Your credit score also plays an integral role when qualifying for a conventional loan.
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Non-payment may involve debt collection practices as it is set by applicable law. The majority of the lenders in our network do not intend to sell your debt to outside collection agencies.
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Lenders are within their rights to report your failure to repay a loan to one or all of the major credit reporting agencies - Experian, Equifax and Transunion. This negative record can be reflected on your credit history indefinitely until the loan is repaid in full.
After the lenders receive payment in full, they can report it to the credit reporting agencies. We remind that late payment or non-payment of your loan can have negative impact on your credit history.