verronica10
07-02-09, 09:29 AM
According to many economists one of the factors of the current recession was a serious credit crisis. People were borrowing more than they could afford and more and more banks were using bad loans as securities that were not worth the electronic blips they were written on. People in general will still spend more than they can afford, borrow more than what they can pay back. In order to protect the credit system the government has set in new guidelines. Banks have set out more stringent credit risk assessments, making it harder for the average client to get car finance or any kind of finance for that matter.
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