So.

Say you have more or less no credit history.

How hard would it be to get a random personal loan for $30k, and what kind of interest rates should one expect?

12/26/2006 10:45:14 PM

depends on the collateral and your income, high

12/26/2006 10:50:18 PM

^as well as existing debt and credit history. You would have to be making A LOT of money to get a loan for 30k without collateral. Hope you have collateral, such as equity in your home.

12/27/2006 7:30:08 AM

do you even know your credit score?

i mean i didn't think i'd have any credit when it turns out mine is pretty good since my name was on the lease at all my college apartments instead of my parents'

12/27/2006 8:07:52 AM

having your name on a lease won't give you credit

idiot

12/27/2006 8:10:33 AM

hahaha well i still have yet to figure out how i got my score then

phone bill?
power bill?

12/27/2006 8:14:32 AM

utilities typically will report your payment history to the credit agencies, so that's probably it.

12/27/2006 8:24:36 AM

you can't have any idea what a rate would be

what is it for? will there be any co-makers or gurantors on the loan? how much debt service do you currently have? income? etc...

and of course credit score has been mentioned

https://www.annualcreditreport.com/cra/index.jsp

you can also get a score, but it has to be purchased, see link below

and it shouldn't be disclosed to you by a lender although some are neglectful of that

the bureaus are working on alternative scores that works for "thin-file" scores from things like utility/phone payment history, but they aren't really in use now

http://www.bankrate.com/brm/news/credit-scoring/20060315a1.asp

at the moment if those types of companies (like utilities) report anything at all, it's only the negative info and you don't get any credit for positive history

[Edited on December 27, 2006 at 9:29 AM. Reason : almost forgot]

12/27/2006 9:22:16 AM

you parents probably put you on a credit card, without you knowing, to help build your credit score...one of my coworkers has done that with her 18 year old son.

12/27/2006 11:33:49 AM

Why in the world do you need 30K?

12/27/2006 11:38:56 AM

gambling debt

12/27/2006 3:08:44 PM

Half-assed plotting, more like. I was curious.

12/27/2006 3:36:45 PM

Quote :

"How hard would it be to get a random personal loan for $30k"

hahahaha

it ain't gonna happen. you'd have to have something of that value to put up as collateral and if you did, you would have some credit history. nobody will give you an unsecured loan for that much without credit history.

12/27/2006 5:34:24 PM

fuck dude, you can't even get a cellphone plan without putting down a huge deposit if you have no credit history.

12/27/2006 7:09:03 PM

If you have something to put as colateral and dont mind a high as fuck interest rate, you might have a chance..assuming your credit is damn good. I mean, I have credit cards with available rates in that range but I also am building a reasonably nice house with virtually no debt in the end, own a 5000sqft warehouse facility, a tanning salon business in High Point and am thinking about opening one of those drop shit off and we sell it for you eBay stores in Randleman, NC.

Guess that isn't too bad for a 22 year old.

Also, if you really really want the 30K and want to pay an insane interest rate from me and can prove your credit history then maybe I'll loan ya some

12/27/2006 8:07:20 PM

Woah there tiger, I wasn't informed there would be a pissing contest in this thread.

Let's just whip out our dicks while we are at it.

How pathetic...

12/27/2006 8:29:24 PM

who the hell are you?

to the OP, you're not going to get a $30k loan with no credit with no cosigner

12/27/2006 9:02:36 PM

Umm, I'm the guy calling out the guy who in a not-so-subtle fashion couldn't wait to tell us how well he is doing for himself. No one likes a fucking braggart.

12/27/2006 9:14:41 PM

you could get a third of that for education pretty easily

12/27/2006 9:28:42 PM

^^ yeah he does that shit in The Garage too

12/28/2006 9:35:54 AM

Quote :

"Guess that isn't too bad for a 22 year old. Guess that's about average for a rich kid whose daddy gave him everything he owns."

12/28/2006 10:59:16 AM

you need collateral, a very good income, and/or a very good credit history....

12/28/2006 2:25:41 PM