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Posted in Paying Your Bills
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sfBlue

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why do loan companies want proof you pay utilities?
I haven't been able to get a personal loan because companies want proof that my name pays a utility bill.
I recently moved from the west coast to the Midwest and am living in shared housing.

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Would you loan money to someone if you didn't know where they lived?  Believe it or not, people sometimes borrow money and then bail on the creditor.  Creditors are used to this, so they have to protect themselves as much as they can.  Proving that you are a resident is one of the ways they do this.  Sorry!

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