Can you get a personal loan to use as your personal contribution on a business loan?
Question by templeofdoom1234: Can you get a personal loan to use as your personal contribution on a business loan?
I want to get a personal loan as my 20-40% contribution on a business loan. Can I do that?
Best answer:
Answer by imisidro
I highly doubt you can do that
The banks will want to see that you have the 20-40% money when you apply. That means you should have gotten the personal loan PRIOR to applying for the business loan
The problem with that is that the banks do credit checks. They will see that you’ve gotten a loan for the same amount you’re saying as your contribution. And that could jeopardize your chances of getting the business loan
Save up. Or seek out loan from other sources, one that will not be tracked with a credit check — e.g. families and friends
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Categories: Loan Questions Tags: Business, contribution, loan, Personal
Can a Payday Loan/Cash Advance company report you to the credit bureau if you dont repay?
Question by Brit: Can a Payday Loan/Cash Advance company report you to the credit bureau if you dont repay?
I have a Payday Loan/Cash Advance that I didn’t pay back now its on my credit report. 1st question is can they do that?? I have recently received some papers in a mail stating that these types of companies are currently in a Class Action Lawsuit. 2nd question…If the case goes in our favor..can I get this taken off my credit report?
Best answer:
Answer by My Take on It
Of course they can
They extended you credit and you didn’t repay them according to the contract (it’s like 5 or 6 pages that you have to sign to take out these loans, lots of small print that informs you they can report you if you do not pay)
Depends on what the class action suit is about. The thing is, by the time the class action suit is ironed out, it would either be off your report (aged off) or you will be sued by them or the collection agency they sell your debt to, so it won’t matter.
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Credit check?
Question by vette 99: Credit check?
I want to check my credit score for free but when i get to one that says it is free i have to enter credit card info.Is there one that I can go to to get the report without entering credit card info.
Best answer:
Answer by lforbes2_1999
go to www.freecreditreport.com or www.annualcreditreport.com. you can always go to the credit bureaus websites and get them that way too. You can get a free report every year. It will tell you if you have already done it too.
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Categories: Loan Questions Tags: Check, Credit
Q&A: Is home ownership possible for people with poor credit?
Question by Tina R: Is home ownership possible for people with poor credit?
I have poor credit, but I have a steady job and planning to enroll in a debt consolidation program. I have never owned a home before. Are there any programs for first-time home buyers with poor credit? Does anyone have any recommendations?
Best answer:
Answer by graciouswolfe
I can only say for a fact, that the worse your credit rating is, the higher the interest rate becomes.
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Bad Credit?
Question by Noahs: Bad Credit?
I have a friend with bad credit in California. She lost her job about four years ago and could not pay her credit cards anymore. Until now she is unemployed. Will she go to jail? What will happen to her? Can she rent an apartment again? Find a job?
Best answer:
Answer by P J
Don’t you think it is time to find another job after FOUR years.
She will not go to jail but finding a job or housing may be tough.
It could very well affect her getting a job if a credit report is pulled by the potential employer.
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Categories: Loan Questions Tags: Credit
Q&A: Payday Loan?
Question by Amber W: Payday Loan?
We are in need of some money until payday and I was wondering what payday loan website is good. I know some say payday loans are bad but they are only bad if you don’t pay it back the next paycheck and my husband gets a bonus next week so we will be paying it back next week. Anyone have an idea of a good site?
Best answer:
Answer by Lori A
I’d ask family or friends before I’d pay the outrageous fees those places want.
Have you considered evaluating the junk in the garage or your closets that you could put up on Craigslist.org and sell to raise cash you won’t have to pay interest on?
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Categories: Loan Questions Tags: loan, Payday
Q&A: Are those payday cash advance loans a fraud?
Question by NYCstar: Are those payday cash advance loans a fraud?
You know those ads for payday cash advance, “get fast payday loan” where they say they will put funds in you bank acct by the next day – are those trustable??? Or can it get you in trouble. Any info would be appreciated.
what about if I just need a small amount of like $300 which i can pay back next month?
Best answer:
What do you think? Answer below!
Can Payday Cash Advance companies tell if you already have another loan out?
Question by toddg: Can Payday Cash Advance companies tell if you already have another loan out?
When I went to open an account at a Payday Cash Advance company, they checked on their computer and saw that I already had another loan out with another company. How did they do that? And can all Payday companies do this?
Best answer:
Answer by Mark
All debts are basically public knowledge, otherwise lenders would have no way to gauge what sort of risk you present them if they loan you money…
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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
=)
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Categories: Loan Questions Tags: loan, Personal
What exactly is an installment loan and how do you get one?
Question by Matt: What exactly is an installment loan and how do you get one?
I’m 18 and trying to build credit, and I’m looking to get an installment loan.
Would it be a type of loan where I would take out, say, $1000 and put up $1000 of my own as collateral? I know that I pay it off over a set amount of time at a set interest rate.
I’m just wondering if it’s the kind of loan where I would put something up as collateral or how does it work?
I already have a credit card.
Best answer:
Answer by Ed Atun
It is a legal term. Some loans for $1,000 have no payments. You just agree to pay back the money in 6 months.
An installment loan for $ 1,000 has monthly payments to repay the loan. You are paying in regular “installments”.
Either type of loan can have collateral. The lender decides if collateral is needed. Go to your bank and ask for a $500 loan. You will pay it back every month until it is paid off.
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Categories: Loan Questions Tags: exactly, Installment, loan