abailey_69 asked:


I am a 24yo female and am having finace troubles. I am married and have a good job but….I was off wrok longer than expected after I had my son and got behind on bills. After I got back to work we were trying to catch up and then my husband decided to switch jobs and the job fell thru so he was without a job for about 3 mon and we got even farther behind he is now back to work full time and so am I. My question is how does personal loans work? I have a mortage and have only made 1 late payment but my credit score sucks due to late credit card payments which I pd one off. I was wondering if there was a chance I could get a loan for about $5,000.00? I have 2 diffrent banks I bank at one is just my checking and saving s and one holds the loan to my house. Which one should I go to?

Micheal

3 Responses to “Can I get a personal loan?”

1. Ask M on May 25th, 2009 6:12 pm

   Calvin

   creditinfocenter com

2. engineer50 on May 28th, 2009 4:27 am

   Antonio

   Please be careful. Borrowing new money to cover old debts often gets people into a deeper hole than they were already in.

   Keeping up with the mortgage should be your first priority. After that, if you can’t keep up at least minimum payments on credit cards, seek the help of a non-profit credit counseling service.

3. Shelly G on May 30th, 2009 11:43 pm

   Grace

   If you have a bad credit history still the loan market place is full of lenders who are ever willing to offer you a fresh loan. But you should be meeting some conditions laid down by the lenders. Loans for bad credit people are in fact easier to get then they were ever before, thanks mainly to cut-throat competition amongst the lenders. Lenders are giving loans to the bad credit people who have late payments, payment defaults, arrears, county court judgments or any credit problems. These loans are available for any purpose like home improvements, purchasing a new or used car of your choice, for wedding and holiday tour, debt consolidation or for paying child’s tuition fees.

   Every lender in approving loans surely likes to see if the bad credit borrower has sufficient capacity to repay the loan in timely manner. If the borrower earns well, has regular bank balance, has been an employee for some years and has a convincing loan repayment plan in place, then the lenders do not usually hesitate much. So ensure that you have adequate repaying capacity before applying for a loan. Also, you should first check your credit report for any errors. If your credit score is too low then you would be charged a very high rate of interest. So it is advisable to firs pay off some easy debts to improved credit score and then you should apply for loan at better

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