personal loan?
Question by lookinout: personal loan?
I am trying to get a personal loan through my credit union. I have bad credit due to immature decisions when I was younger. I now pay my bills on time and am capable of paying back a loan. Do you think I have a better chance of getting the loan if I have collateral and a co-signer?
Best answer:
Answer by k-po
=)
Know better? Leave your own answer in the comments!
yes you may a chance with a credit Union try them what do you have to lose
Yes. Credit Unions are more likely to give you a loan than a traditional bank.
collateral and cosigners will always improve your chances of higher loans .. however… your own responsibiity determines your ultimate credit .. remember, if you have a cosigner, you are also affecting THEIR credit by your payment history and habits
Have you made an effort to clean up your Credit? Paid off old bills? If not then in the Credit Unions eyes you are the same as you were then. However, bad dings on your credit should disappear in a matter of 7 years so if that amount of time has passed you should be fine.