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Wish me luck today...

post #1 of 25
Thread Starter 
As most of you know, I'll be moving very soon due to my new career. There is no way for me to possibly pay all the deposits & etc for this move, so today I have to go speak to my Loan Officer. I'm really nervous & I know that I shouldn't, but I just hate borrowing money. My credit is awesome & I gave them a good impression with the last loan I had from them. It was for my car & I paid it off early by 3 months...plus I was never late. My banker Tom had talked to my Dad a few months back about my previous loan & Dad had told him about my new situation and how I'll be needing some money. Tom told Dad that he had no problem loaning me money, so I'm feeling pretty confident that he'll give me the cash. It's just the fact that I grew up thinking that borrowing money is a bad thing. I seen my parents do that too often & I see how big of a crunch they've gotten themselves into with debt. Plus, I feel like a begger when I go in there. And this the first time I've had to do this alone. I'm 26 years old & I should be able to handle doing this kind of stuff on my own, but I'm a little scared about it all. Hopefully they won't need a co-signer for it...it's not that much money...only $2000. Do you think they'll need a co-signer? They did for my car, but that was 3 years ago & for a lot more money. ????

Just wish me luck today, OK? I'm just dreading it!
post #2 of 25
Good luck Shell!! I'm sure you'll get it just fine without a co signer

10 years ago I financed my car. I was 21 years old. The only way they would give me the loan was if I agreed to 19% interest. Can you believe that!!!???

10 years later, I bought another car.. no problems, 7% interest.. piece of cake.

Time and credit experience really helps.. you should be fine!
post #3 of 25
Oh Shell! Good luck! We had to borrow $3500 back in July from our credit union. It sucks, but sometimes you have to have it when you don't have it all at the right moment. Times like these are unsettling, but don't worry about it! It seems like everything is on your side. You probably won't need a co-signer if your credit is really good, and plus $2k isn't that much. Good luck!
post #4 of 25
Thread Starter 
Yowzers! 19%!!!!!!!!!!!! That is outrageous!

I had asked my Dad about getting the loan (I need it for deposits & to get some furniture). I thought about getting credit through the furniture place, but he told me their interest rates are close to 20%! He said that our bank would give me a loan at 6%...that's a heck of alot better!

Thanks Sicy! Congrats on the new car!
post #5 of 25
Thread Starter 
Thanks Candi! Hope it goes as painless as possible! LOL!
post #6 of 25
Keeping my fingers crossed for you It might be nerve racking but it will be worth it in the end. Just hang in there.
post #7 of 25
Thread Starter 
Thanks Cathi!
post #8 of 25
Good Luck! I'm sure you'll go fine. They'll be throwing bags of money at you!!!
post #9 of 25
HEY!! Good Luck Shell !!!!!!!!
post #10 of 25
Thread Starter 
Hey..thanks Kim & Toni!
post #11 of 25
Sometimes borrowing money is a good thing if you pay it off promptly. It builds your credit rating and will make it easier in the future for big purchases like a house. I am sending get the loan vibes your way -- I am sure everything will be fine. Just stress that you nowe have a new higher paying job.
post #12 of 25
Good luck Shell . I am sure that you wont have any problems what so ever . You go girl
post #13 of 25
good luck!
post #14 of 25

This is a good thing because you need to establish credit on your own. You will not need a co-signer. I worked as a loan officer in a bank before and the previous co-sign loan was because you had no established credit. You have proven to them that you can pay off your loans (and indeed early) this will bode well for you. Actually, you are not begging for money, they will earn money off of your loan.
post #15 of 25
Lots of luck sweetie, from mzjazz2u, Peaches, Carmella, Henrietta, Jake & Hallie

I'm wondering though, why WalMart isn't helping you relocate since you're moving is required for your job? Have you asked them if there is something in place for relocation?
post #16 of 25
Thread Starter 
Tammie, I just found out the other day that I'll be getting $500 from them for relocating. I just happened to talk to my new boss & he said something about it. Then I brought it to my new bosses attention & she argued with me about it. So, I went over her head & talked to her boss...looks like I'll be getting some money!

The way I've figured, I'll be needing almost 1000 in just deposits plus I need to buy some furniture (probably another 1000). I get paid next week & I get the relocation money next week too. So, I actally don't need to borrow that much but I'd rather have the extra in case if I do need it. It won't be hard to pay off once I get started in the new job...I just hate scraping for money & at least I'll some to fall back on if I need it.

Dumb question...I need to buy a new bed, headboard & dresser. How much do you think they usually run in cost? I've figured in at least $500, maybe more. Plus I need to get a couch & I thought about getting a cheap 7 piece set for $500. What do ya think?

Thanks everyone!
post #17 of 25
Hope you get your loan, luckily for you you went over your bosses head to the top and they gave you some money!

Good Luck, Shell!
post #18 of 25
My couch and love seat cost $1,200.00 and I just paid $500 for a matress alone.
post #19 of 25
You will be fine! Me and rich grew up early. We got a mortage when I was 21 and he was 22. We have boughten cars and all kids of big things by ourselves you can do it! As long as you pay your bills on time and have established credit a small loan like that should be fine! Heck I have charged more then that on my credit card in one month
post #20 of 25
Originally posted by Shell

Dumb question...I need to buy a new bed, headboard & dresser. How much do you think they usually run in cost? I've figured in at least $500, maybe more. Plus I need to get a couch & I thought about getting a cheap 7 piece set for $500. What do ya think?

Thanks everyone!
If you have a saluvation army close check there for dressers and head boards first. I wouldnt by anything cloth there because of stains or oders, but we got an AWESOME dresser and amour for 89 dollars!
post #21 of 25
Shell, Any good news yet?!?
post #22 of 25
Good Luck Shell! The furrkids and I are rooting for ya!
post #23 of 25
Thread Starter 
Well...I've had a really &%$%#@ day! I drove 30 miles to go to my bank only to find that the both loan officers took the day off. But that's what I get for not calling ahead! Now I've got an appointment on Tuesday at 10pm...so I'll have to wait.

Thanks for the good vibes...I'll just hold them til Tuesday!
post #24 of 25
good luck Shell on the bank loan, it sounds like there wont be a problem
post #25 of 25
Hey, good luck and hope it all works out well, last thing you need is stress, relocating is hard enough! Hang in there with your chin up, it all usually works out in the end if you keep positive.
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