Promise Financial personal loan

[Anonymous]

Maharshi,

Instead of borrowing for that interest (unless you're absolutely desperate, but even then I would be hesitant), you should create a budget if you haven't already done so. 

Like our scores, everything takes time and patience and if you lay out all of your expenses (honestly) and see what you can cut back and funnel towards your debt, it might help you free up more money per month later.  Now it won't happen overnight, but it will happen and along with that your credit score might go up, which also takes time.

[Anonymous]

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@Anonymous wrote:

I have 4 unsecure credit cards and 1 student loan

Cap1Platinum : $ 1443/$1500 (98% util)

Kohls charge $79/$300 (39% Util)

merrick secure $25/$315 (8% util)

Chevron Texaco $497/$500 (99% util)

Lowes Consumer CC $2049/$5000 (46% util)

Nelnet Student Loan $5200/Deferred until July 2016.

All util % are guess-timates.

VERY MANY INSTALLMENT LOANS PAID UP excluding a recent Auto loan (june 2015;$279,20/mo payment). 6-payments made on time. 

Irrespective of interest on each cc, if borrowing at  26%APR then might as well not get a personal loan? my CC's are not even in the 20%-25% APR range. 

$3100/mo gross income

TO EACH ITS OWN (PROFILE)..

maybe i should apply after utilization is down to 30% or less ; i suppose rates get better then

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Your utilization is definitely high. For comparison when I got my loan, I was at 2%.

[Anonymous]

My overall revolving credit utilization was at 80% and I got approved.  It's effectively zero now, although I put those credit cards in my safe, break in emergency only lol.  I want to get an Amex card for monthly incidentials.

I just got approved on a lease for a car, too, not less than a week ago.

Although prior to these things, I haven't touched my credit, applied for anything since my last car ten years ago, using just the cards I've already had.  Never missed anything though.

[Anonymous]

well if loan issuers didn't know consolidation was the purpose of loan and that most likely you have maxxed credit cards that you want to better yourself with, what i dont get is reasonable and customary APR's should be the norm (5-10% APR is IMHO reasonable & customary), instead,  like the offer i got it actually exceeded my cc APR;s. 

if it was for any other purpose and loan issuers charged more o well, thatssss...you know....hmmmmm....?????????

loan consolidation is strictly beating the current APR on cc by MILES. ( I mean getting 5-10%) v/s 20-25% APR's.

i guess why they are called LOAN SHARKS? too? hhahahhaha.

ya ya ya i know TO EACH ITS OWN  

[Imperfectfuture]

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@Anonymous wrote:

well if loan issuers didn't know consolidation was the purpose of loan and that most likely you have maxxed credit cards that you want to better yourself with, what i dont get is reasonable and customary APR's should be the norm (5-10% APR is IMHO reasonable & customary), instead,  like the offer i got it actually exceeded my cc APR;s. 

if it was for any other purpose and loan issuers charged more o well, thatssss...you know....hmmmmm....?????????

loan consolidation is strictly beating the current APR on cc by MILES. ( I mean getting 5-10%) v/s 20-25% APR's.

i guess why they are called LOAN SHARKS? too? hhahahhaha.

ya ya ya i know TO EACH ITS OWN  

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Not loan sharks.  You need to clean up your credit.  Plus, how are you going to prove income until you have job?  My util is around 7%, with lots of 0% (half not being used).  You are stressed right now, but you start job soon.  This is a life lesson.  When unemployed, DO NOT TRY TO KEEP THE LIFESTYLE YOU ARE ACCUSTOMED TO.  Cut back except for shelter, food, electricity, in that order.  Take charity if needed, so you can pay the CC's down.  Take on side work, sell stuff. 

But your blaming others for your own predicament will not help you solve the problem, especially if the problem occurs again.

[Anonymous]

Imperfect Future

You r all over me about my DEBT

why? i can only do SO MUCH 

[Imperfectfuture]

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@Anonymous wrote:

Imperfect Future

You r all over me about my DEBT

why? i can only do SO MUCH 

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Because I was worse off than you (550 scores), and fixed everything, including collections set to continue until 2019, all gone.  You are not willing to try and fix, but I did not get any of the cards in my sig (except the CU card that was secured), until everything bad off all my reports, and util always below 10%.  And guess what, I lost my job, did all this on disability (used antenna to watch tv, bought tivos, etc, all by saving, no cc nor debt).  This year started side business, but overall, it is still at loss until all sections are operational.  So. You saying others are to blame, that does not work.  Pull up the big boy pants, and take it down.  Once you clean everything up (and REALY TRY), the world will be yours.

[Anonymous]

JUST EXACTLY how do u know i havent TRIED? reading my post told you all that?

okkkkkk

[alexl22]

Sorry for thread necro, but I took a loan through promise financial at the begining of December and it still has not reported to the CRA's yet, which I am not mad about lol. Just wondering if will eventually from you guys that took one out earlier than I did. Just curious thank! 

[Anonymous]

Hi alexl22,

This is Brad from Promise Financial.  We are finalizing our reporting to all bureaus and will begin reporting very soon.  Apologies for the delay, as I know the folks on this forum are excited to be building their credit history!

We appreciate you choosing to work with us.  As always, please let me know any questions.

Thanks,

Brad