With the credit squeeze already here, getting financing with bad credit is almost impossible. Lenders look with ever increasing suspicion on low-doc applications, where borrowers suddenly "discover" large incomes, that they failed to declare previously.
It seems, that only a long history of employment and verifiable income, together with an absence of bad credit history, can get your credit application approved.
All major banks, from BofA to Citigroup, started using lending criteria that are so much more stringent than even a few months ago.
Getting Financing with Bad Credit is Getting Very Difficult!
