SpringLeaf Financial

[longtime_lurker]

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@xXIDaShizIXx wrote:

Would those not be a hard pull? I mean if my bank won't do it, why would they? (serious question).

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Yes, I'll put $5 that all of those would be hard pulls. And as for why they might approve when others won't, is because you're a student applying for a student loan. Assuming you were not eligible for the federal direct graduate loans, these are going to be the easiest to be approved for, assuming like I said your student status can be verified. 

[Creditaddict]

1. Banking relationship rarely mean anything these days.
2. Your more concerned about HP's and applying then taking about a 36% spring leaf loan?!
3. Google credit union student loan, there is one for private.

[09Lexie]

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@xXIDaShizIXx wrote:

Would those not be a hard pull? I mean if my bank won't do it, why would they? (serious question).

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I noticed that you are having difficulty quoting replies.  For detailed steps, please review this thread:

http://ficoforums.myfico.com/t5/Community-Feature-FAQ-s/How-to-Quote-a-Post/td-p/2603189

[longtime_lurker]

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@Creditaddict wrote:
1. Banking relationship rarely mean anything these days.
2. Your more concerned about HP's and applying then taking about a 36% spring leaf loan?!
3. Google credit union student loan, there is one for private.

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+1

[barbaralee]

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@xXIDaShizIXx wrote:

Yes after we get out there. But until then. We need the money to to get out there and pay bills up front.

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OK, just to clarify, you absolutely have no money, none whatsoever, to get at least to your new school and in a temporary home? When my husband was accepted into his program we had all of $900. We used that money for his first month's rent on his apartment, and then we waited for his loan to come in and I moved afterwards. Obviously it was not ideal, but we did what we could do at the time.

If you have student loans coming in, then it really is best to wait for those loans, especially if they are direct loans. I would strongly discourage private loans, myself. Even if it means one of you move out, while the other waits it may be a better option than taking out a loan at 36% interest (which is absurd, imo).
 Here is the thing: you said yourself both of you are young and have a thin profile. You barely have had a chance to build credit and you are talking on taking out a large amount of debt which (assuming you already have your masters) you will not be able to pay off for another 4 years, minimum.

[chwebb1]

Personally I'd never take a loan at 36%. All of my credit cards are well under 20% APR (I had one that was above 20% that I cancelled for that reason). I even have one at 8%. I'd be much more willing to take a HP than to pay 36% APR. Could you call a lender (ie Discover or any of the others mentioned by longtime_lurker, Wells Fargo, Sallie Mae, Discover, and PNC) and talk to them about their underwriting standards to determine if you have a chance of getting approved? I know that DCU (dcu.org) also offers personal loans. I have looked into joining them lately to build a relationship with them, but I am hesitant to take a HP on EQ.

[Kenny]

I've seen a lot of people speaking a prepayment penalty.. usually the carefully choiced wording is NO PREPAYMENT PENALTY to hook you in.. -- guess what? The interest is already front-loaded into the contract

My suggestion to you OP is immediately apply for DCU or something similar --- (credit union) --- Apply for a refinance of your car -- DCU can loan you 100% of your car's value, that's why I suggested DCU as I just did this.

My next suggestion after that is determine how much that loan is able to be done for (it will be 100% lower than 36% even if you don't get good terms with them.) And then apply for credit cards. Maybe even DCU can give you a card as well.

I would also try for the Duck card.

With that said all of those are a lot of HPs and your score is bound to make a tumble.. make your pulls smart.. do them in the right order do the things you MOST want first, like your car loan.

GL! Let us know the route you choose.

[AwwwYeee]

I took out a personal loan with Springleaf since they were the only ones who'd take me.  I had to use my car as collateral since my CS was 579 (alot of baddies on my report and i started to rebuild after I got the loan). I got a loan for about 2K then after a month they gave me a increase of 1.5K. They gave me a 37 month program. But I'll probably pay everything off by a year. They're not as bad as long as you pay off your loan quick

[AwwwYeee]

btw they'll try to sell insurance regarding your loan. Just say no to them.

[xXIDaShizIXx]

Well guys, I got denied by my bank and two local credit unions. I couldn't refinance my car because it is exactly 7 years old, I won't be able to touch the Graduate Plus loans until after we get out there, and I have no family on my side or my wifes that can or are willing to help. Springleaf even denied me. Now I have a lower score and nothing to show for it. I have no idea what to do.