topic Personal loan question in General Credit Topics

Personal loan question

EaglesFan2006 — Tue, 19 Mar 2019 00:12:15 GMT

Hello,

I am considering getting a personal loan through my credit union. Terms seem good and all.

My question is ... is there a “stigma” around personal loans? I know that things like consumer financing makes your profile look bad. But other than the expected impact (new account, new debt, etc) is there anything particular about a personal loan that would send a red flag to future creditors down the road?

Re: Personal loan question

Girlzilla88 — Tue, 19 Mar 2019 00:53:27 GMT

The only I can think of is 30 day late 60 day lates...those can do damage as well and of course Collections

Re: Personal loan question

SouthJamaica — Tue, 19 Mar 2019 01:17:39 GMT

@EaglesFan2006 wrote:
Hello,

I am considering getting a personal loan through my credit union. Terms seem good and all.

My question is ... is there a “stigma” around personal loans? I know that things like consumer financing makes your profile look bad. But other than the expected impact (new account, new debt, etc) is there anything particular about a personal loan that would send a red flag to future creditors down the road?

No there's no stigma around a personal loan from a credit union.

The "consumer finance" thing doesn't apply to personal loans from credit unions.