Loans? Credit? Financial Gurus come.

[Supertastic Fool]

Ok, so I'm a student, I need around $5,000 for a few things within a couple months, bills, a car etc. I have no credit BUT I am in the air national guard. I know for a fact that I can pay this loan back within a year no problem. I will be getting 2000$ in July (that can go solely to the loan). Its a garunteed bonus from the military. As well I will be making pleanty of money in the near future so my question is. Is there anyway to convince a bank to give me a loan WITHOUT a cosigner? I don't really have anyone to sign for me of credit worthiness, my parents will not sign so what should I do?

 

[leftyman]

Originally posted by: KlitschBeiExitus
Ok, so I'm a student, I need around $5,000 for a few things within a couple months, bills, a car etc. I have no credit BUT I am in the air national guard. I know for a fact that I can pay this loan back within a year no problem. I will be getting 2000$ in July (that can go solely to the loan). Its a garunteed bonus from the military. As well I will be making pleanty of money in the near future so my question is. Is there anyway to convince a bank to give me a loan WITHOUT a cosigner? I don't really have anyone to sign for me of credit worthiness, my parents will not sign so what should I do?

interesting

 

[Supertastic Fool]

Originally posted by: leftyman

Originally posted by: KlitschBeiExitus
Ok, so I'm a student, I need around $5,000 for a few things within a couple months, bills, a car etc. I have no credit BUT I am in the air national guard. I know for a fact that I can pay this loan back within a year no problem. I will be getting 2000$ in July (that can go solely to the loan). Its a garunteed bonus from the military. As well I will be making pleanty of money in the near future so my question is. Is there anyway to convince a bank to give me a loan WITHOUT a cosigner? I don't really have anyone to sign for me of credit worthiness, my parents will not sign so what should I do?

interesting

Interesting?

 

[edro]

If you do not have a job, it is doubtful.

 

[mitmot]

why won't your parents sign?

 

[leftyman]

Originally posted by: KlitschBeiExitus

Originally posted by: leftyman

Originally posted by: KlitschBeiExitus
Ok, so I'm a student, I need around $5,000 for a few things within a couple months, bills, a car etc. I have no credit BUT I am in the air national guard. I know for a fact that I can pay this loan back within a year no problem. I will be getting 2000$ in July (that can go solely to the loan). Its a garunteed bonus from the military. As well I will be making pleanty of money in the near future so my question is. Is there anyway to convince a bank to give me a loan WITHOUT a cosigner? I don't really have anyone to sign for me of credit worthiness, my parents will not sign so what should I do?

interesting

Interesting?

why wont your parents sign? or loan you the money? Being that im a parent i find that interesting

 

[lobadobadingdong]

Originally posted by: leftyman

Originally posted by: KlitschBeiExitus

Originally posted by: leftyman

Originally posted by: KlitschBeiExitus
Ok, so I'm a student, I need around $5,000 for a few things within a couple months, bills, a car etc. I have no credit BUT I am in the air national guard. I know for a fact that I can pay this loan back within a year no problem. I will be getting 2000$ in July (that can go solely to the loan). Its a garunteed bonus from the military. As well I will be making pleanty of money in the near future so my question is. Is there anyway to convince a bank to give me a loan WITHOUT a cosigner? I don't really have anyone to sign for me of credit worthiness, my parents will not sign so what should I do?

interesting

Interesting?

why wont your parents sign? or loan you the money? Being that im a parent i find that interesting

Why? my parents wouldn't loan me money like that.

Have you talked to a bank or credit union? Your schools financial counselors should be able to help you immensly.

 

[imported_griffis]

If you do not have a good paying job and substantial credit history you can get a loan maybe but the interest rate will rape you

 

[Supertastic Fool]

Originally posted by: griffis
If you do not have a good paying job and substantial credit history you can get a loan maybe but the interest rate will rape you

Well, I will be active duty for 6 months for training. How bad will interest be for >1 year loan?

 

[Supertastic Fool]

Originally posted by: leftyman

Originally posted by: KlitschBeiExitus

Originally posted by: leftyman

Originally posted by: KlitschBeiExitus
Ok, so I'm a student, I need around $5,000 for a few things within a couple months, bills, a car etc. I have no credit BUT I am in the air national guard. I know for a fact that I can pay this loan back within a year no problem. I will be getting 2000$ in July (that can go solely to the loan). Its a garunteed bonus from the military. As well I will be making pleanty of money in the near future so my question is. Is there anyway to convince a bank to give me a loan WITHOUT a cosigner? I don't really have anyone to sign for me of credit worthiness, my parents will not sign so what should I do?

interesting

Interesting?

why wont your parents sign? or loan you the money? Being that im a parent i find that interesting

because im an adult?

 

[Supertastic Fool]

Originally posted by: lobadobadingdong

Originally posted by: leftyman

Originally posted by: KlitschBeiExitus

Originally posted by: leftyman

Originally posted by: KlitschBeiExitus
Ok, so I'm a student, I need around $5,000 for a few things within a couple months, bills, a car etc. I have no credit BUT I am in the air national guard. I know for a fact that I can pay this loan back within a year no problem. I will be getting 2000$ in July (that can go solely to the loan). Its a garunteed bonus from the military. As well I will be making pleanty of money in the near future so my question is. Is there anyway to convince a bank to give me a loan WITHOUT a cosigner? I don't really have anyone to sign for me of credit worthiness, my parents will not sign so what should I do?

interesting

Interesting?

why wont your parents sign? or loan you the money? Being that im a parent i find that interesting

Why? my parents wouldn't loan me money like that.

Have you talked to a bank or credit union? Your schools financial counselors should be able to help you immensly.

my financial counselors just give me a piece of paper with phone numbers on it to call, but every single one of them requires credit/cobarrower, i was going to go ot a bank/credit union today.

 

[new2AMD]

Try a credit union then go to creditboards.com instead of a tech forum. Tons of useful information there. If you had more time before you needed the loan you could have started a credit history with some sort of bank/credit card to establish a file.

 

[MixMasterTang]

My parents co-signed for my first car when I was 18, and then refused to give me any loans or co-sign for anything after that. I don't see why you people are so puzzled that someone's parents won't co-sign for someone, it could be for a multitude of reasons (they could have credit problems themselves, don't want to lower their credit score, etc.). When you're an adult you can't always expect mommy and daddy to bail you out of any problems you run into.

But back to the original question. Personal loans can be pretty hard to get unless you have a fairly high credit score. One possibility is if you have a car that is paid off or that you owe less than it is worth re-finance it/use it as equity to get a loan. That's not an optimal situation, but it can work to bail you out of a crunch.

 

[imported_griffis]

Originally posted by: KlitschBeiExitus

Originally posted by: griffis
If you do not have a good paying job and substantial credit history you can get a loan maybe but the interest rate will rape you

Well, I will be active duty for 6 months for training. How bad will interest be for >1 year loan?

I am talking maybe up to 20% or so. Whatever it is it will not be worth it. Also, if you have little or no credit I do know for a fact it's damn impossible to get a loan without a cosigner