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Thinking about Getting a Personal Loan. What's a good place to start?

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Regular Contributor

Thinking about Getting a Personal Loan. What's a good place to start?

There is a school course I want to take that will help me career wise and there is a debt looming over me that I want to take care of before they try to take it to collex and judgements.  I worked so hard to keep everything clean that I don't want it ot hit.  Now, I just can't pay off the debt, it's about 1500 and I just got laid off.  Even if a personal loan is bad on my credit, I prefer that over a judgement/collection. 

Where are some good places to look for personal loans. what is the difference between secure/unsecured?    

Current Scores 11/2016:Equifax 8: 688 TransU 8: 675 Xperian 8: 674 Cards: Penfed Promise Visa Barclay Reward MasterCard American Express Blue Cash Rewards Nordstrom
5 REPLIES 5
Super Contributor

Re: Thinking about Getting a Personal Loan. What's a good place to start?

If you want to pay off credit card debt and have some large single charges on a card, try affirm.com.

They link your credit cards to your profile and offer you loans based on transactions. Say I spent 1000k at Apple on Chase visa. Affirm would offer me a 1000k loan, no pull and the tread line doesn't report. So there is no record of your personal loan as long as you pay it off. Personal loans can be hard to get and they want u to send them all supporting documents. Affirm doesn't. Apr is high though like 25 % but not as high as say an avant loan at 80 % apr
Message 2 of 6
Valued Contributor

Re: Thinking about Getting a Personal Loan. What's a good place to start?

Sorry to hear that you got laid off. Hopefully you are actively looking for work so that you can at least keep your payments on-time. You will have a hard time getting a personal loan with no income you can show.

 

A secured loan means you put $1,500 in deposits in the bank and they loan you $1,500 with your money securing the loan. Probably not something that would work for you unfortunately.

 

I do wish you luck in getting things squared away and hope the course does help you out. 

Message 3 of 6
Regular Contributor

Re: Thinking about Getting a Personal Loan. What's a good place to start?

Thanks everyone. I should have mentioned, I thought of this because I have to take out a personal loan by a lender the school recommends.  I figured why not kill a few birds with one loan. HA! 

oh and of course I'm actively looking for work.  Hopefully this won't be a long unemployment season. 

Current Scores 11/2016:Equifax 8: 688 TransU 8: 675 Xperian 8: 674 Cards: Penfed Promise Visa Barclay Reward MasterCard American Express Blue Cash Rewards Nordstrom
Message 4 of 6
Regular Contributor

Re: Thinking about Getting a Personal Loan. What's a good place to start?

so is affirm for online purchases only?  Or would I have to make the purchase with Discover and then Affirm comes in? Does affirm only work for merchants who use affirm? 

Current Scores 11/2016:Equifax 8: 688 TransU 8: 675 Xperian 8: 674 Cards: Penfed Promise Visa Barclay Reward MasterCard American Express Blue Cash Rewards Nordstrom
Message 5 of 6
Regular Contributor

Re: Thinking about Getting a Personal Loan. What's a good place to start?

OK, this is funny, affirm is who the school suggests. 

Current Scores 11/2016:Equifax 8: 688 TransU 8: 675 Xperian 8: 674 Cards: Penfed Promise Visa Barclay Reward MasterCard American Express Blue Cash Rewards Nordstrom
Message 6 of 6
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