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Whether buying a house or buying a car, a number of people are finding it hard to get a loan these days.

There are ways you can increase your chances.

What seems to be the biggest road block that people run into when applying for a loan?

Low credit scores. Unfortunately, a lot of people do not even realize they have a problem until they get turned down or charged a less favorable interest rate.

Other than not paying bills on time, what else can lead to a lower than expected credit score?

• Lack of active credit. If you haven't borrowed in awhile, it is hard for a lender to know how well you can manage credit.

• High balances - those that are more than fifty percent of your credit limit.

• Errors on your credit report.

If you are trying to get a loan, what can you do to increase your credit score and chances of getting a loan?

• Check your credit report on a regular basis - at least once per year - and take action immediately to correct any errors.

• Not only pay your bills on time, but pay them in full, and at least a few days prior to the due date.

• If you have to carry a balance, try to spread the balance among a couple of cards verses carrying one large balance on just one card. Try to stay below thirty percent on each card, if possible.

• When applying for a loan, make sure to give the lender everything they need in timely manner, and stay in touch. Sometimes, the squeeky wheel gets the grease.

If you are turned down for a loan, what should you do?

Find out why and do what ever is necessary to improve your situation. Do not give up. Shop around with multiple sources.