just for some extra money while id be working to pay off the loan. i dont need a million reasons why i shouldnt get a loan. my question is. is it even possible to get a loan for that kind of money if i dont neccesarily have a reason for the loan? nad ive never had a credit card before? my family is kinda broke now and some extra money would be much helpfull
2007-08-01 17:55:24 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
If You do not have a credit history. You will need "collateral" to
get a loan. If your car is paid off. that can be used as collateral
but, if you fail to pay off the loan, they will take your car.
You can get a loan if one of your parents "co-signs" for you.
and if you fail to pay off the loan. You will be affecting their
credit rating and have a lein put on their house, which means
before they can sell their home. the money has to be paid.
Check with a bank and ask, but money is tight right now. :-})
2007-08-01 18:17:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
That's a poor reason to get credit. It's a sign you don't know how to handle money. Your only hope is a credit card or signature loan. Beware of high interest. It can make a small loan huge. Go get a job and live paycheck to paycheck like most Americans.
2007-08-01 18:00:21 · answer #2 · answered by towanda 7 · 0⤊ 1⤋
You are only going to make things worse. Why would you borrow money to pay stuff off or get other things...then you are going to struggle twice as much. Use your head, do not be a dummy.
Never take advice from broke people. EVER.
2007-08-02 02:46:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋