When you don't have family in the area & friends credit is not the greatest who can you use as a co-signer.
2007-09-07 14:14:44 · 8 answers · asked by rory1803 1 in Business & Finance ➔ Credit
Personal loans normally carry a higher rate of interest. This is because of the higher risk potential in such loans. One may also be overcharged on this account. The borrowers are asked to pay a hefty charge and have to face some inflexible terms of payment. Nevertheless, there are lenders who charge reasonably lower rates of interestcomfort and a future comfort also leads to this trap. Deciding the monthly repayments and the number of installments further strain your mental faculties. An expert advice from knowledgeable people will help in this decision. Being aware of ones financial condition, the borrower can decide the various details of the loan in a much better manner. Thus, the final decision is reserved with the borrower himself.
2007-09-07 15:35:30 · answer #1 · answered by fashion d 1 · 0⤊ 0⤋
The co-signer is purely as in charge for paying returned that own loan as you're. in case you do no longer pay the own loan officer, they are in a position to come back after the co-signer for fee. As for acquiring a private loan and not applying a co-signer, you fairly have not got lots of an selection while you reported you have no longer have been given large credit- that's possibly why you pick for a co-signer.
2016-10-10 04:09:49 · answer #2 · answered by ? 4 · 0⤊ 0⤋
If you don't have family or friends who can co-sign a loan for you, your options are severely limited. You might talk your boss into signing your note. Have you considered pawning or selling some of your things to raise money? Finding a co-signer can be difficult. They put themselves on the line should you fail to pay the note.
2007-09-07 15:31:29 · answer #3 · answered by Flyby 6 · 0⤊ 0⤋
just so you know also... if you have bad credit a co-signers wont really help you. They would have to be joint on the account. The only thing a co-signer will help for is the income ratio. If you have a bad debt to income ratio i dont know if a loan is rally in your best interest
2007-09-07 15:04:30 · answer #4 · answered by mitch w 2 · 0⤊ 0⤋
Family is generally your best bet. They do not have to live in the area, documents can be transmitted internally within the branches of a bank.
Your other option and it is not a good one would be to get a loan from a provate lender. The problem with that type of loan is that the interest is a killer and unless you are absoutly certain that you can repay the loan in a short time, it is not a wise choice.
Best of Luck
2007-09-07 14:23:07 · answer #5 · answered by sosezshe 4 · 1⤊ 0⤋
If you have no family in the area and your friend is all you have, even if their credit is not all that great, they are probably your best option. Unless you want to call one of your family members to meet with you for a day and to help you, you seem a little limited in your people. Just ask your friend if they will help you and try to go from there. Best of luck!
2007-09-07 14:21:36 · answer #6 · answered by BTB 08/15/2009 2 · 0⤊ 0⤋
If no one who you know is willing to help you out then the answer is no one. Try borrowing from a friend or family member directly. I hope that money is not as important as keeping friends and family.
Do you watch those court shows?
2007-09-07 14:22:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Co-signer means they'll pay your debt when you flake .
Who ? Whomever you can talk into it .
Who do you know that owes you so much , they'll take on your debts for you ?
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2007-09-07 14:21:14 · answer #8 · answered by kate 7 · 0⤊ 0⤋
Anyone with acceptable credit, it will still be 'your' loan, but the bank will sue them if you default
2007-09-07 14:21:48 · answer #9 · answered by nortonclarkson 4 · 0⤊ 0⤋