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-   -   question about bank loans.. (https://gfy.com/showthread.php?t=403450)

sharpx9 12-15-2004 06:06 PM

question about bank loans..
 
If I wanted to get a loan of $5k from a bank, would they ask why? Are they very picky about what you take the loan for? I have a co-signer with PERFECT credit. What all will I have to do to get this loan?
The loan is to pay off some debt I have..personal, mostly.

Scott McD 12-15-2004 06:24 PM

They will probably ask why, but you can make up any shit for that, and that will be you...

IRQ0 12-15-2004 06:24 PM

Yes a bank normally wants to know basically what the purpose of the loan is for. The reason is that the loan may need to be secured or there may be better options available depending what it is for. A business start-up loan may be eligible for commercial rates and you may be able to get more money at a lower rate if the loan is secured.

A third party lender will not ask as they do not care. You will pay more interest but they are much more flexible than a bank.

Also, keep in mind that when you use a co-signer the loan is in their name, not yours. If you are trying to rebuild credit it is better to pay more interest and get the loan in your name from a third party lender than to use a co-signer.

UniversalPass Pete 12-15-2004 06:26 PM

Get a line of credit, no questions asked!

Top Jimmy 12-15-2004 06:28 PM

Quote:

Originally posted by UniversalPass Pete
Get a line of credit, no questions asked!

Yup. If you can this is the best option.

ArikaAmes 12-15-2004 06:47 PM

When I got mine from a credit union they didn't ask at all. If they do say it is for school or something like that :2 cents:

xclusive 12-15-2004 07:03 PM

Arika is right CU's are much easier to get a loan from...

Fred Quimby 12-15-2004 07:11 PM

I got to my wifes checking account when I need cash:Graucho

sharpx9 12-15-2004 07:13 PM

What kind of third party would I go to?
If I said it was for school they'd probably just tell me to get a student loan, I would think..
What should I tell them I need it for? If I say personal debts, they probably wouldn't give it to me. However, my cosigner does have perfect credit. Errr..I'm stressing here, I need this loan tomorrow or the next day and I don't want to get denied :(

PornGeneral 12-15-2004 07:26 PM

Quote:

Originally posted by Fred Quimby
I got to my wifes checking account when I need cash:Graucho
Works for me also! :winkwink:

IRQ0 12-15-2004 07:30 PM

Up here we have Transcanada credit, Citi financial, household financial etc. Don't forget online lenders. Many will process you and deposit within 24 hours. A simple goolge search will find many more than you need.

Hinc 12-15-2004 07:31 PM

Actually, if you a co-signer with perfect credit, the bank shouldnt be asking too many questions - their funds are secure then.

...and btw, if you borrow 5k - for say a new server, how would they ever know, that what you had delivered was 10 paysites and an inflatable doll (unless of course you make sure the statement says PornoDirt.com) :)

But. The co-signer should give you a good point of negotiation to get a good interest deal. If heīs perfect, itīll be worth much more than a good story of how youre gonna spend it (unless you buy a house they can take claim in, thats of course their number 1)

sharpx9 12-15-2004 08:07 PM

thanks for the info everyone. greatly appriciated :thumbsup :thumbsup

Dirty F 04-29-2005 09:24 AM

A bank loan? You owe half this board money...is that what you need it for?

polish_aristocrat 04-29-2005 09:27 AM

Quote:

Originally Posted by Franck
A bank loan? You owe half this board money...is that what you need it for?

:1orglaugh

sickkittens 04-29-2005 09:29 AM

Quote:

Originally Posted by Franck
A bank loan? You owe half this board money...is that what you need it for?


Haha. I was waiting for you to post that. :winkwink:

Funky Bastard 04-29-2005 09:35 AM

First of all your not paying off some debt all your doing is moveing it around you dont need a loan to do this you need your shit stright and get on a budget list your debt from least to greatest then start paying it off little by little and you will be debt free in no time. THINK

Dirty F 07-11-2005 12:12 PM

Sharpx9, have you paid the all the people you owe money?

Fucking scamming piece of shit.

Ipod scams, ebay scams, free playstation scams.

Lowlife idiot

Dirty F 08-17-2005 07:32 AM

bump bump

blazin 08-17-2005 08:12 AM

Better hope your co-signee hasn't read GFY today.


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