Need A Loan

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lewiskelly
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Need A Loan

Postby lewiskelly » Fri Feb 01, 2013 1:58 am

I need a real loan with bad credit is there any valid lenders out there?

Tightwad
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Re: Need A Loan

Postby Tightwad » Fri Feb 01, 2013 9:21 am

lewiskelly wrote:I need a real loan with bad credit is there any valid lenders out there?

Unlikely. Depends on your definition of "valid" & how you stack up to the 3 C's of lending.

lewiskelly
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Re: Need A Loan

Postby lewiskelly » Sat Feb 02, 2013 5:13 am

If i am right then c belongs to collateral then what about 2 c's?

Tightwad
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Re: Need A Loan

Postby Tightwad » Sat Feb 02, 2013 7:41 am

lewiskelly wrote:If i am right then c belongs to collateral then what about 2 c's?

3 C's of lending:
Credit - How good is your credit?
Capacity - What's your capacity to repay the debt?
Collateral - What collateral do you have to secure the loan in the event of default?

Mario
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Re: Need A Loan

Postby Mario » Sun Feb 03, 2013 11:21 am

lewiskelly wrote:I need a real loan with bad credit is there any valid lenders out there?


There usually are, but depending on how bad your credit is and how much you need and how bad your credit is (and as a corollary, how well you can prove that you'd be able to pay back the loan... having some collateral to get a secured loan would help), it could get expensive.

I'm in the process of getting a big, no-fee, 0% balance transfer en route to paying off some credit card debt. This might be one option.
http://debtblag.com

Track my fiscal fitness with $0.5 million in debt: http://getrichslowly.org/forum/viewtopic.php?f=11&t=61052 Latest update: As of April 16, I've paid off $21,400 in credit card debt this year (after starting with $35k)


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