Reply
New Visitor
Posts: 1
Registered: ‎06-29-2007
0

Consolidation Loan or Personal Loan for Non-Homeowner

Hi
 
Husband's FICO:  688
My FICO:  657
 
We do not own our home (we don't pay rent either ... we've been given "lifetime rights" to our house ... needless to say, we aren't going anywhere!    :smileytongue:
 
Over the past 4 years, we've accumulated some credit cards, bought a few toys (2 4-wheelers, one of which is paid off in full and the other is being financed). 
 
A little over a year ago, we opted for a personal loan from BoA to pay off some debt, which we did and - - - drum roll, please   :womansad:  accumulated more debt from credit cards ... go ahead, slap my hand!
 
Anyway ... we have good credit, have no charge-offs, absolutely no late payments and have never filed BK, so here is my question ...
 
Can anyone give me some suggestions as to where we can go to get an unsecured loan for someone who doesn't have any collateral? 
 
To pay everything off and have just one payment, we would need $60K. 
 
Last Tuesday, we were approved at our local credit union for $30K, but the finance charge was really high and I wasn't happy with the terms, so I wrote them a nice letter explaining the reasons we chose not to accept the loan. 
 
Granted, $30K would have paid the BoA loan off, the 4-wheeler and some credit cards, but not everything that we'd like to include in the total - and our total monthly payment at the bank would have been more than we're paying monthly currently and we'd still have a few remaining debts.  
 
(It makes it easy (well, not necessarily easy, but you get my drift ... for those who own a home, I believe ... where one can refinance and pay those accumulated debts off.)
 
Thank you for your time ... I look forward to reading your replies :smileyhappy:
Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
0
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.