100k Wells Fargo Personal Loan?

[ADARPegasus]

ok so i am going to be applying for a wells fargo personal loan next friday i was wondering what do you guys think my chances of getting approved are heres my credit and income info

I have a

Bank of america - 600 opened 10.2011

state farm - 500 opened 10.2011

US bank - 1000 opened 07.2011

walmart - 500 opened 10.2011

HSBC menards - 1250 opened 02.2001

Discover - 3000 opened 10-2009

Bank of America- 10,000 opened 02- 2006

Income - Work 1.2 years - $10536.00 a month before taxes

So what do you guys think my chances of getting approved for the loan is?

[Anonymous]

You are going to ask Wells Fargo for an unsecured 100k line of credit, that's $100,000.00? No collateral?? And you made 10k last year???

I would pay to see the look on the loan officers face. To say your chances were not good would be a huge understatement.

[ADARPegasus]

what no not a personal line of credit a personal loan and i didnt make 10k last year i make 10k a month i make about 126k a year before taxes.. hahaha

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@Anonymous wrote:

You are going to ask Wells Fargo for an unsecured 100k line of credit, that's $100,000.00? No collateral?? And you made 10k last year???

I would pay to see the look on the loan officers face. To say your chances were not good would be a huge understatement.

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[Anonymous]

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@Jonbuck06 wrote:

what no not a personal line of credit a personal loan and i didnt make 10k last year i make 10k a month i make about 126k a year before taxes.. hahaha

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@Anonymous wrote:

You are going to ask Wells Fargo for an unsecured 100k line of credit, that's $100,000.00? No collateral?? And you made 10k last year???

I would pay to see the look on the loan officers face. To say your chances were not good would be a huge understatement.

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So you net less than $90k?  Doubtful that you'll get approved for a personal loan for $100k.

Hi Mr. Loan Officer,

I've only been employed for about 14 months and I would like a personal loan -- no, not a home loan or a car loan -- for more than my annual income.

Sincerely,

Person who doesn't realize this country is bordering on complete economic destruction.

[Anonymous]

I don't know if you edited in the monthly or if I just missed it. lol But at least you could make the payments now.

I mean honestly...with what you make you probably wouldn't have much of a hard time finding someone to  finance you on a $100,000 Mercedes.  But, a 100k blank check is going to be a tough pill for most lenders to swallow.

[Anonymous]

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@Anonymous wrote:

I don't know if you edited in the monthly or if I just missed it. lol But at least you could make the payments now.

I mean honestly...with what you make you probably wouldn't have much of a hard time finding someone to  finance you on a $100,000 Mercedes.  But, a 100k blank check is going to be a tough pill for most lenders to swallow.

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He edited it after your initial reply.

Anyhow, as Balbanes is alluding to, with personal loans there is no collateral.  With a home loan or auto loan the lender can at least take the property back. 

[ADARPegasus]

i mean someone must be able to get them if they werent able to i dont think wells fargo would offer unsecured loans up to 100k.

[Anonymous]

Sure, if you've got many years of credit history showing you've dealt well with credit in that range and you make whatever they consider to be the right range for that kind of loan they are going to do it. It's atypical...they are going to look long and hard. WF is very conservative.

[ADARPegasus]

well ill try and see what happens

[Anonymous]

Best of luck. I'd be interested to hear how it goes.