6-56 Which of the following might lead a consumer to seek a loan from a subprime lender?

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All of the above factors could lead a consumer to seek a loan from a subprime lender. Subprime lenders are known for providing loans to individuals who may have difficulty obtaining credit from traditional lenders due to poor credit history, low income, or lack of savings. Inability to document income, previous bankruptcy filings, and lack of savings for a down payment are all common reasons why a consumer may turn to a subprime lender for financing.

6-56 Which of the Following Might Lead a Consumer to Seek