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help a friend


  •  kathieroswell
    Joined: Jul 2016
    Posts: 77
     kathieroswell
    Joined: Jul 2016
    Posts: 77
    help a friend 
    1/29/2018 at 11:03 PM
    Good evening everyone! I was just talking with one of my close friend. He was asking me that if ever he have a bad credit history, can he still apply for student line of credit, or apply to another bank and start a new. I don’t know what to answer, so if anyone knows the answer or had the same experience. Please help
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  •  kathieroswell
    Joined: Jul 2016
    Posts: 77
     kathieroswell
    Joined: Jul 2016
    Posts: 77
    .... 
    1/29/2018 at 11:04 PM
    He’s in year off and planning to go back to college this September, and he needs money.
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  •  hisluvmonkey
    Joined: Oct 2009
    Posts: 1442
     hisluvmonkey
    Joined: Oct 2009
    Posts: 1442
    Consumer Credit ratings are centralized 
    1/29/2018 at 11:41 PM
    in the Credit Bureau of Canada. So, if your friend has bad credit with any institution, it will have been reported to the CBC. If he applies for a loan or credit card, regardless of where (bank or credit union) his credit rating will be checked before a lending decision is made. Student Loans are a Canada/Manitoba government lending program and their rules are different.
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  •  TheScotsman
    Joined: Nov 2016
    Posts: 373
     TheScotsman
    Joined: Nov 2016
    Posts: 373
    Student loans are different 
    1/30/2018 at 9:52 AM
    I personally know a lady who is on social assistance. She received a loan, went to school, graduated, just could not handle the real world. she tried like heck. had to go back to SA.  
     
    She was on SA when she got the loan. The loan is permanent. If and when she re-enters the work force, that loan still has to be paid.
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