A quick loan...

What would you do if you needed $1000 right away? You have a checkered credit history, no house, $1000 CD.

You must unlearn what you have learned. – Yoda

My good buddy Vinny Goombah can help you out. :wink: Just make sure your health insurance is paid up in case you miss a payment.

But seriously, there are a lot of credit places that specialize in credit for people with poor credit histories. You’ll pay usurious interest, though, and they’ll make you promise all your possessions as security.

Try the yellow pages under “Financing, Loans”.

Catapultam habeo. Nisi pecuniam omnem mihi dabis, ad caput tuum saxum immane mittam.

Get a quick loan from one of those places in the yellow pages, but then do this: Promise yourself not to eat out or spend frivolously(sp?) for the next 2 months and pay off the loan ASAP. Don’t get caught up in loans! They suck! They eat you alive a little at a time! After you have paid off this loan quickly, reward yourself for a week, then fast again and get a savings account. Fill it with some cash and don’t get caught like that again.
Sounds harsh, but take it from someone who knows. I took out way too many loans (student and credit cards) and am now paying them off as fast as possible and my life is suffering because of it! All my spare money goes to loans now! I could have a new car, TV, etc, but NNOOOOOOO, I gotta pay off my loans. And it all started with a $1000 line of credit loan from my bank. Talk about choosing the wrong path…Loans and Credit cards- avoid them like the plague, live only the lifestyle your paycheck allows.

I have so many thoughts going through my head that sometimes it’s hard to finish a

What Tomcat said. Stay away from credit! The only sensible reason to borrow money is to buy a house, start a business, or perhaps lease a car.

Catapultam habeo. Nisi pecuniam omnem mihi dabis, ad caput tuum saxum immane mittam.

A $1000 loan or line of credit isn’t that much. Since you have the $1000 C.D., you be able to put that up as collateral. I’d go to the place where you have the C.D. and see what they can do for you. They may require a co-signer or may only lend up to 80% of the value of the collateral, but they rate won’t be as high as soem other more suspect lenders.

If at first you don’t succeed - redefine success!

Oh, one other note. While I agree that credit cards and loans should be avoided if possible, sometimes they are necessary. By taking out a small, secured (by the CD) loan, and repaying it on time, you will begin to repair your “checkered” credit history.

If at first you don’t succeed - redefine success!

Not quite sure what you mean by staying away from credit unless you mean don’t actually use it to pay for something over time. I think credit cards are great. I always pay my balance every month however, even if it is thousands of dollars, but until the bill comes, my money sits in the bank earning interest. Also buying with a credit card gives you a lot more leverage then other purchase methods if you have a problem with the purchase. Finally, you don’t have to carry around cash or checks.

In this world, you must be oh-so smart, or oh-so pleasant. For years I was smart. I recommend pleasant.

Well of course we mean that! :slight_smile: They are great tools and I use them all the time when travelling, but I got caught up in a buying spree that took me years to pay off. Maybe your parents instilled the good sense to use credit sensibly, mine, however, did not. And most people I know don’t use them only as a space saver in their wallets. The US has the worst savings rate in the world, and I read somewhere (beware! I’m not 100% confident on this stat) that the average person has $7500 in debt (including cars, cards, etc. not including a house though). Our point is to not go down the wrong path on this, which is SSOOOOO tempting to do. My line of credit loan had a payback of $25 a month. “Yippee! I can afford THAT!” and I could afford it…and for 4 years I made that $25 a month payment, and had paid off around $400 in principal. I finally paid off the the other $600 after a big paycheck. So that $1000 loan cost me $1400 to pay off, and if I hadn’t finally made a lump sum payment in the end, I would have paid off twice that, if not more. And that was just the beginning! I got other loans and cards and screwed myself even more. And it was so easy to do. Now I am suffering, so my advice will always be to use extreme caution with credit because it can trap you.

I have so many thoughts going through my head that sometimes it’s hard to finish a

How soon can you pay it back?

If you have a pay check at least that high, you could go to one of those places that will cash a post-dated check.

I don’t know if they go all the way up to $1000 though…

Yer pal,


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