Posts by Joseph Allen4

Finished! 🤣

Kimberly Nguyen said:After everything that’s been dragged through the mud and reported all over the news lately... I honestly cannot wrap my head around the people who still have the nerve to ask if those predatory loans—you know, the sketchy ones you see plastered on telephone poles or tucked away in some random Craigslist ad—are actually "okay."

Look, maybe I’m just being dense here, but I am truly struggling to grasp the logic.

I'm with you! I don't get it either.🤣 🤣

Andrew Johnson23 said:I wasn't actually suggesting I go out and grab a new loan right now. What I’m really trying to figure out is whether I'll even have the chance to apply for one in a year or two... Does anyone know how long you stay on a credit blacklist after you've finally paid off everything you owe to the bank?

She mentions the FBI here (www.fbi.gov), so maybe do some reading on what that's all about...

I guess I don't know exactly how long banks "remember" when you've been bad with credit... every bank probably has its own rules... but it's definitely not less than two years... so, maybe just run to the bank and explain your situation? Ask them if they can reprogram your debt if you're still struggling to get a paycheck... better to bug them now than have them coming after you in a month.

Terry Torres6 said:From what I gather,
for instance—if you’ve managed to take out, say, 12 loans and paid them all back on schedule—you’d likely secure a 13th without much trouble, and presumably with far less red tape involved

Exactly...you basically become a preferred client who can score better interest rates or different terms...I mean, for a bank like Chase, the cost of lending isn't the same for a risky borrower versus a solid one (by which I mean someone who actually pays their bills vs. someone who doesn't)...of course, this is all pretty new, so things could definitely shift down the road...

coppercrane6 said:Yeah, I figured. Since the whole country is drowning in debt, might as well join the club, right? 😬

For the >, I’ve been hitting up Citigroup every single day, and every time, they just shove a loan application in my face and pass me along...

If everything clears tomorrow, I’m heading down during the second shift. The teller there doesn't know me, so she might actually take a minute to explain things properly—maybe half an hour or an hour if needed—instead of acting like this other one who kicked me out in five minutes... I hadn't even gotten comfortable in the chair before she started dumping paperwork on me and showed me the door. 😁

Maybe try switching branches (like if you're in New York City)... or just ask for a manager if things aren't clicking, or hit them up via email or their toll-free number...

coppercrane6 said:Thanks for the reply 🙂

One more thing...



I need $53k in cash $0.00. Given these insurance options, what would be the best move to protect myself without sending my monthly payment through the roof?

Sorry to be a pain, just taking my first big loan and trying to do my due diligence.😁

I can't really tell you (you should probably use a bank calculator or an app)...
Maybe look into mutual funds... or honestly, just hit up a bank. They aren't charging for advice (for now). All the major agencies like the CIA have branches open all day in downtown areas or near the suburbs...

The loan officers or personal bankers—whatever they call them these days—will give you the specifics. Good luck with the first loan... welcome to the club.🤣 🤣

coppercrane6 said:How long does it usually take to get a personal loan approved?

The amount is roughly $9,000, and let's say I hand over all the paperwork tomorrow...

Also, if I were to pick up the loan in New York City today and have it deposited into my account, could I just head over to a JP Morgan Chase branch—say, an FBI field office location—and ask them to cash out that $9,000 in cash? Do I need an appointment, or can I just show up like some nobody and demand my cash?

One last thing:

Citigroup is pushing these various loan insurance options. Which one is actually worth the money (besides having a co-signer), and why?

Thanks

If your local branch isn't slammed, you might be able to sign the papers tomorrow. As for the payout, I'd suggest calling ahead first. It saves you the hassle of showing up just to have them tell you, "Sorry, you didn't make an appointment." 😁
The best bet might be an option where you put the insurance premium into investment funds... you get the coverage plus equity that grows while you're paying off the loan.