Personal Loan

C.,

Until you are in a better financial situation, my suggestion is to hold off on the procedure. The costs of having a child and raising a child is staggering.

If you are a praying woman remember sometimes God's answer is NO.

Blessings.....

6 moms found this helpful

First, congrats on your decision! Second, I had great credit, helped a family member out, ruined my credit, built it back up & the bank I was with & had been with for years, would not give me a loan. I applied online with a credit union, which I did not bank with & they had never met me or anything & was approved & received a phone call within 2 hours to know when I would like to make arrangements to finalize the loan. I now bank with them. Point is...it happens to everyone (not saying your credit isn't good, but there's probably some little thing the bank didn't like), but don't give up & definitely try a credit union.

1 mom found this helpful

Your best bet would be to put up some asset as collateral. A secured loan is easier to secure and has lower interest rates.

if you can't afford this reversal, then it might be a better option to wait a few years & save the $$ for it. By doing this, you will be better prepared for the enormous expense of raising a child. ......peace :)

Congrats on the decision.

If you are hard and fast over this doctor - then you need to talk to them or save the money.

Banks aren't doing personal loans like they used to and for a non-essential procedure - they will most likely deny.

DO NOT apply for another loan -it will lower your credit score. If you belong to a credit union, then talk to them. They are a tad more lenient in lending terms and conditions.

If you can't do that - then either wait and save the money or ask a family member. If you own your home - consider taking a 2nd out for things and use the points as a tax write off.

GOOD LUCK!

Congratulations on the decision and good luck to you! Will the DR not let you pay over time? Some do. Don't feel bad about getting turned down for this loan. This type loan has no hard asset behind it (like a car loan or a house loan) so it is much harder to qualify for. So your options are probably to save up for the procedure then do it, look for another loan or there is always the possibility of putting it on a credit card and paying that off. Especially if there are any offers with low / no interest for awhile.

You didn't say how much money you needed, but I just received an offer from a credit card company for a $21,000 Zero % interest for the next 14 months. If your credit is good start checking your "junk" mail. If your credit isn't good, then start getting it good. How do you turn bad credit to good credit? Pay your bills on time or ahead of time. There have been several questions about that in mampedia over the last several months.

Good luck to you and yours.