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Hello,
I have been searching for a personal loan. I tried through my bank, Suntrust and American Financial Services and was turned down. I make $41,000 per year, have a credit score in the range of 627-635, which is considered fair credit.. My combined debt is about $5,000. Are there any loan companies that you could suggest? I already know I should never pay for a loan upfront but sometimes it is hard to tell the legitimate lenders from the scams. Thank you for your time.

Posted: Thu Sep 28, 2006 9:38 am Subject:

Hi christine
Welcome to the forums!
Sometimes a loan is not the best thing to get yourself debt free.
May I ask what the loan is for?

Posted: Thu Sep 28, 2006 11:07 am Subject:

Your monthly income is reasonably good and the total debt is also not high enough. Perhaps, it's possible that you can cut some of your expenses and increase your saving. This way you won't have to take new loan for paying the existing debts. Taking a new loan will only increase your overall expenses.

Posted: Thu Sep 28, 2006 2:02 pm Subject: personal loans

True it might not be a good idea to get another loan unless you are able to pay off some of your other loans and have a smaller monthly payment and a better interest rate. I found a really good site last week you might want to check out prosper.com

christine_m_mccormick@hot · Posted: Tue Oct 03, 2006 6:16 am Subject: Personal Loan

The reason that I need the loan is because I am behind on my rent and have 4 outstanding pdls and would like a loan to pay those off and get current with my rent. I am planning on moving out once my account is current and maybe even looking a purchasing a car especially if I move out the city. I know it is not smart to even take out pdls but at the time, I really needed the money. Has anyone heard of Wells Fargo? I was looking at them on the internet and they seem to give loans to people with less than perfect credit.

Guest · Posted: Wed Oct 04, 2006 4:15 pm Subject:

I don't know much about Wells Fargo but you can try a site called prosper.com Do you have any family that would let you borrow the money and you could pay them back? I know its not always a good idea to borrow money from family but it might be a better alternative than getting a loan from a financial institution.

Posted: Wed Oct 04, 2006 4:21 pm Subject:

Sorry I thought I was logged in. My last entry showed up as Guest. Do you know what your credit score is or what your credit report looks like right now?

christine_m_mccormick@hot · Posted: Thu Oct 05, 2006 10:28 am Subject:

Yes, I have 2 delinquent accounts on my credit report and a credit score between 627-635. I have listed my request for a loan on propser.com, we will see....

Posted: Thu Oct 05, 2006 11:06 am Subject:

I'm sure you feeling stressed out right now. I normally wouldn't suggest this but do you have any family or friends that would be willing to lend you the money to get caught up on your rent? One thing I've learned is always pay your rent and car payment on time. I hate borrowing money from friends or family but sometimes it's necessary. It looks like you wouldn't have a problem getting a loan with your credit score but I might take a while.

christine_m_mccormick@hot · Posted: Thu Oct 05, 2006 3:32 pm Subject: RE

I really don't want to borrow from my family, which is probably why I have so many PDL's. My family is great, just if they knew I wa taking out PDL's, they would flip - I applied with Wells Fargo today and told the rep. my situation upfront, it seems promising. We will see....

Posted: Sat Oct 07, 2006 3:24 pm Subject:

Good luck! I did the same thing with the pdl's. I didn't want to ask my family because I hate to feel obligated to my family (alot of bad history)I don't want to feel like I owe them anything. They tend to hold it over my head. I hope everything works out for you. Remember we're all here to help so keep in touch.

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