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Old 12-29-2012, 07:17 PM   #1
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Getting a loan with low credit

To make it brief, I have a 'friend' that owes me some money and it has just been too long for him to pay it back. He will come up with the rest but I'm trying to find some company to loan him around $4k which he can pay me back with. The thing is he has low credit and was rejected at the bank.

So I'm trying to find out what are some companies out there which would be able to loan an amount in the sum of $4k +/- to someone with low credit. I understand the interest rate would probably be high. If he is able to pay it back in a timely manner I would assume he shouldn't take that bad of a hit from the interest?

thanks in advance.
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Old 12-29-2012, 08:22 PM   #2
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Hahahahhahahahahahahhahahahahahahahhahahahhaahahah hahahahahahahahahaha

U think u will ever see that money again? never ever ever expect money back that u loan to friends, family, or anyone without a legally binding agreement

So based on that, you don't need to worry if ur friend can get credit, he prob can't, and even if he could, he won't

Kiss that moola bye bye
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Old 12-29-2012, 08:57 PM   #3
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If he works, just try to get him to garnish his wages to pay you back slowly. Better than promises of a full payment in the future that probably will never happen.
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Old 12-29-2012, 09:11 PM   #4
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Your friend will not be able to get any loans with banks or other financial institutions with a low beacon/ credit score. It may be best to ask him to find a qualified guarantor to sign with him for the loan. If he has any assets such as non registered investments or property he maybe able to offer that as security.

If he has a existing credit card he can do a cash advance depending on his credit limit.

Good luck.
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Old 12-29-2012, 10:00 PM   #5
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I was in a similar situation. I leant a good friend 5k. He signed a promisory note. After a year of run arounds and empty promises I got fed up. I calmly talked to his parents and asked if they would co sign for a loan for him, but he owed them a lot of money too! Apparently he had a gambling problem I never knew about. Known him since we were in gr. 4 I won't go into details but he signed his car over to me and I sold it. Unfortunately I lost a friend of 15 yrs because of money. Never again...
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Old 12-30-2012, 08:01 AM   #6
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Lend him another 4, head to the casino, proceed to put 4k on black, collect winnings.
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Old 12-30-2012, 03:50 PM   #7
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Lend him another 4, head to the casino, proceed to put 4k on black, collect winnings.
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most serious post in this thread thus far.
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fuck this shit, i'm out
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Old 01-05-2013, 08:28 PM   #8
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at Maple Ridge Chrysler he can get a new truck and 10K cashback if he has a pulse
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Old 01-18-2013, 11:22 PM   #9
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HSBC will give money to anyone at credit card interest rates.
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Old 01-19-2013, 03:42 PM   #10
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Forgot about this thread. It was much more than 4k, that was an amount I was hoping he can get at least, and find another way to pay the rest back.

Cool, I will look into HSBC.
The guy doesn't have the highest income job and a very basic credit card with a 500 limit so he hasn't built up his credit yet. It's just been difficult to find something.

So to get any kind of HSBC loan what are the chances? perhaps opening an account with them?
They have some online application so we can start from that.
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Old 01-19-2013, 07:29 PM   #11
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Forgot about this thread. It was much more than 4k, that was an amount I was hoping he can get at least, and find another way to pay the rest back.

Cool, I will look into HSBC.
The guy doesn't have the highest income job and a very basic credit card with a 500 limit so he hasn't built up his credit yet. It's just been difficult to find something.

So to get any kind of HSBC loan what are the chances? perhaps opening an account with them?
They have some online application so we can start from that.
Does this friend of your not working or something? It's not hard to pay someone back if they have a job. It's about commitment and financial management. If he's serious about paying you back, he would make some changes to his financial circumstances. Otherwise, if he's working and not paying you a dime, he's not serious about giving you any back.
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Old 01-19-2013, 09:08 PM   #12
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Good luck with your friend getting a loan from any bank. If its taking him too long to pay you back, imagine how hard it will be for him to pay the bank back. Even if it is just the interest amount, and not the principal. Especially when you are talking 4k and above.

When he owes you money and if he doesn't pay, there are no consequences for him. When he owes the bank money, and he doesn't pay, there will be consequences. Even IF he can, get a loan, will he? Unless as stated above, get someone to co-sign. But when someone co-signs, the co-signee pretty much picks up the debt. If your friend doesn't pay, the co-signee is hooped.
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Old 01-20-2013, 03:19 PM   #13
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try citifinancial...
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Old 01-20-2013, 06:55 PM   #14
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y dont u sell his debt to someone. im sure someone can "convince him to pay"
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Old 01-20-2013, 08:15 PM   #15
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Line of Credit? Shouldn't be too far to get a 4k line of credit eh
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