Posts Tagged Personal Loans
how do i re establish bad credit?
kburgess612 asked:
i have previous closed accounts, charged off, taken to collections, delinquent, and finally paid. there are about 5 credits all the same, will not be taken off until 5 years. they were minimum amounts between 200-500 each. i have a student loan i pay on time each month. i get denied for credit when i apply for my bank (wells fargo) personal loans and credit cards. i do not want to be in more debt since i finally got all of those delinquent accounts paid off now. how do i re establish credit, all i get is denied, and i need money for a loan someday soon. is a secured credit card through the bank the way to go? is there any other ways to re establish my credit or help my credit report/score? if a secured card is the way to go, explain to me how it works, i understand you put down a minimum deposit. what i dont understand is you make monthly payments, but if its YOUR deposit, why would you OWE anything?
Kim
i have previous closed accounts, charged off, taken to collections, delinquent, and finally paid. there are about 5 credits all the same, will not be taken off until 5 years. they were minimum amounts between 200-500 each. i have a student loan i pay on time each month. i get denied for credit when i apply for my bank (wells fargo) personal loans and credit cards. i do not want to be in more debt since i finally got all of those delinquent accounts paid off now. how do i re establish credit, all i get is denied, and i need money for a loan someday soon. is a secured credit card through the bank the way to go? is there any other ways to re establish my credit or help my credit report/score? if a secured card is the way to go, explain to me how it works, i understand you put down a minimum deposit. what i dont understand is you make monthly payments, but if its YOUR deposit, why would you OWE anything?
Kim
!HELP! 24 YRS OLD, TRYING FOR PERSONAL LOAN THROUGH MY EMPLOYERS CREDIT UNION !HELP?
Lifequestions asked:
I am 24 years old, i gross about 70K per year, I will be getting married this summer. I am looking to get a personal loan through my employers credit union. I am not yet a member, i just checked my credit report today for the first time really. I have very little debt, about 375 dollars total. I have a currently open auto loan (5500 loan, co-signed by father) that has a balance of 1500 left and the loan term will be ending in 6 months, so i will have that paid off. However in the beginning of the loan i was late often by up to 30 days or more, i have not been late on my payments in the last 6 months. I have 3 negative reports on my credit and only one positive, one of the negatives has been there for 2 years and the other two have been there for 5 years. I will be paying off the 3 negative reports very soon. I am looking to get a $8000-10000 loan though the CU which i verified does provide personal loans at 15 % APR. sorry but i had to provide all the background, but my question is do you think i should settle the negative credit reports before i even become a member of the CU. ( will it make a difference?) Is it likely they will require another Co-signer? or will i likely be turned down? what can i do to help my chances of being able to get this loan by myself? any help is appreciated, i know i am paying for my mistakes when i was younger and more careless with my credit. I appreciate any constructive responses. thank you for your help!
i also forgot to mention I do have a son, my life expenses; Rent, Bills, expenses etc. take up most of the money I earn, but I would be able to afford the monthly payment for the loan. However if i could save the money (8K) in the time i need it i would but I calculated it and its really not possible.
Lydia
I am 24 years old, i gross about 70K per year, I will be getting married this summer. I am looking to get a personal loan through my employers credit union. I am not yet a member, i just checked my credit report today for the first time really. I have very little debt, about 375 dollars total. I have a currently open auto loan (5500 loan, co-signed by father) that has a balance of 1500 left and the loan term will be ending in 6 months, so i will have that paid off. However in the beginning of the loan i was late often by up to 30 days or more, i have not been late on my payments in the last 6 months. I have 3 negative reports on my credit and only one positive, one of the negatives has been there for 2 years and the other two have been there for 5 years. I will be paying off the 3 negative reports very soon. I am looking to get a $8000-10000 loan though the CU which i verified does provide personal loans at 15 % APR. sorry but i had to provide all the background, but my question is do you think i should settle the negative credit reports before i even become a member of the CU. ( will it make a difference?) Is it likely they will require another Co-signer? or will i likely be turned down? what can i do to help my chances of being able to get this loan by myself? any help is appreciated, i know i am paying for my mistakes when i was younger and more careless with my credit. I appreciate any constructive responses. thank you for your help!
i also forgot to mention I do have a son, my life expenses; Rent, Bills, expenses etc. take up most of the money I earn, but I would be able to afford the monthly payment for the loan. However if i could save the money (8K) in the time i need it i would but I calculated it and its really not possible.
Lydia
Can you help me get out of my massive credit card debt?
Nick asked:
I have about 7500 in credit card debt. I know this may not seem like a lot to some people, but I’m only 24 and I bought a truck that I probably shouldn’t have and the payments on that are what’s killing me. I’ve decided that the last thing I want to do is get rid of the truck. I have fallen behind on some of my payments and am acquiring late fees and higher interest rates, and my credit is being shot to hell in a hurry. I have applied for several personal loans to pay off my credit cards and get one lower monthly payment, but I’ve been denied every time because of my poor credit. I don’t really want to go through a credit counseling service yet, because that shows up on my credit report and will further reduce my score. I have worked thorugh my budget with a fine tooth comb and I’ve done calcualting with differnt loan terms/interest rates/etc. and I know I can afford one, but how do I get one? Any advice you can give would be greatly appreciated.
I would appreciate worthwhile answers only, please. I’ve only had the truck since March, so my loan would be way upside down, and with my credit what it is now, I wouldn’t get anything reliable for the loan I’d get.
April
I have about 7500 in credit card debt. I know this may not seem like a lot to some people, but I’m only 24 and I bought a truck that I probably shouldn’t have and the payments on that are what’s killing me. I’ve decided that the last thing I want to do is get rid of the truck. I have fallen behind on some of my payments and am acquiring late fees and higher interest rates, and my credit is being shot to hell in a hurry. I have applied for several personal loans to pay off my credit cards and get one lower monthly payment, but I’ve been denied every time because of my poor credit. I don’t really want to go through a credit counseling service yet, because that shows up on my credit report and will further reduce my score. I have worked thorugh my budget with a fine tooth comb and I’ve done calcualting with differnt loan terms/interest rates/etc. and I know I can afford one, but how do I get one? Any advice you can give would be greatly appreciated.
I would appreciate worthwhile answers only, please. I’ve only had the truck since March, so my loan would be way upside down, and with my credit what it is now, I wouldn’t get anything reliable for the loan I’d get.
April
Where can I get a good low interest personal loan(unsecured) for debt consolidation?
Posted by admin in Personal Finance on January 27, 2011
Tracy J asked:
I need to pay off like 5 credit cards,and 2 personal loans. I am just trying to put it all together and lower my monthly payment. Please help me with this.I have pretty good credit i guess but alot of inquiries because 2 car dealerships shotgunned my credit report around.
Please no more scammers trting to give me a loan. Just wanted to know some legit loan company’s that would work with someone
Justin
I need to pay off like 5 credit cards,and 2 personal loans. I am just trying to put it all together and lower my monthly payment. Please help me with this.I have pretty good credit i guess but alot of inquiries because 2 car dealerships shotgunned my credit report around.
Please no more scammers trting to give me a loan. Just wanted to know some legit loan company’s that would work with someone
Justin
Inquiries on Credit report?
Jen asked:
I didn’t know before that even if I have no credit history/ credit score, the inquiries (when the lenders/creditors pull up a credit check on you) can show up on the report. People say that this can harm approvals for future loans/ credit cards…How long will the inquiries stay on there? I am trying to build credit..so this “penalty of guessing” sucks, since I want to try getting approved, but I don’t want to harm my report. I currently have a secured credit card..but that’s my only line of credit I have for now, as I got denied for personal loans and unsecured credit cards because I have no credit history and am a new college student. I haven’t tried applying for department store cards..but..why bother? I most likely will get denied anyways (even if I will pay back in full every month…) So should I just stick with one line of credit for now, because inquiries on my report suck if I get denied? Thanks =)
Pamela
I didn’t know before that even if I have no credit history/ credit score, the inquiries (when the lenders/creditors pull up a credit check on you) can show up on the report. People say that this can harm approvals for future loans/ credit cards…How long will the inquiries stay on there? I am trying to build credit..so this “penalty of guessing” sucks, since I want to try getting approved, but I don’t want to harm my report. I currently have a secured credit card..but that’s my only line of credit I have for now, as I got denied for personal loans and unsecured credit cards because I have no credit history and am a new college student. I haven’t tried applying for department store cards..but..why bother? I most likely will get denied anyways (even if I will pay back in full every month…) So should I just stick with one line of credit for now, because inquiries on my report suck if I get denied? Thanks =)
Pamela
Are Charge cards easier to get approved for than a Credit card?
Jen asked:
I have no credit report, no credit history and I’m a student..but I’ve applied for several personal loans and credit cards and only got approved for a secured credit card from BoA. So yeah, several places have tried to pull up my credit report without success. (I can’t even pull up my own credit report for some reason!) I want to build credit, do you think I will get approved for a charge card or is it going to be just another dead end? Thanks. =)
Ruben
I have no credit report, no credit history and I’m a student..but I’ve applied for several personal loans and credit cards and only got approved for a secured credit card from BoA. So yeah, several places have tried to pull up my credit report without success. (I can’t even pull up my own credit report for some reason!) I want to build credit, do you think I will get approved for a charge card or is it going to be just another dead end? Thanks. =)
Ruben