• What to consider if taking out a loan?
    19 replies, posted
Well the reason why I'm posting this is because recently me and my girlfreind have been going through some really tough financial issues because I was laid off without warning. It's causing fights everyday and I have never been this stressed out in my life. I'm not one to be a drama queen but I have never felt so close to just shutting down before. I feel like if I don't take charge and change our situation I'm going to lose being with my son and the girl I love everyday. I just need some advice on how to responsibly and carefully take out a loan. Which company will be the most understanding and has the lowest rates when it comes to monthly payments. I know most of you are probably going to say a loan isn't the best idea for someone that is already in a situation like mine, but I can't lose my family over stupid green paper. I don't care what it takes. I will take on two jobs to pay it back. I'm not looking for a lot I'm only looking for enough to get us back on our feet because we are in debt pretty bad and are having vehicle issues that are really expensive to fix, not only that but me and my son have really high medical bills due to health complications.
Start selling drugs. On a serious note I would try to find a stable job before taking out a loan because sometimes banks will refuse to give loans to people who they think cannot pay it back. At least in my brothers experience anyways. But he eventually did get back on his feet.
So theirs no way for me to take out any kind of loan from any website or company? Not even if some kind of contract or payment plan is set up? Getting a job where I live isn't something I can say I'm going to do. It's unbelievably difficult and would take minimum two weeks to a month to get a steady job again.
You could try to take out a 401K loan or mortgage your car or house. In a 401k loan you still have to pay back what you owe. All a 401k loan is is you taking money out of your retirement savings and unless you have enough savings to help you out right now then its not worth it.
I just turned 20 and barely have 2 years of work under my belt. I'm guessing that means theirs no loans for me?
You can try to take out a bank loan but like I said they might deny it. Worth a shot I guess. But remember if your unable to repay the loan you pretty much fucked yourself.
Taking out a loan should be the absolute worst case scenario, especially at such a young age. Make sure [I]every[/I] single option is exhausted before considering it. You risk putting yourself in debt for the rest of your life, which in turn screws up your finances in perpetuity.
If you're willing to set up a paypal or such to receive donations, I (and I'm sure many others) would be glad to throw a few bucks your way. As for taking out a loan, as others have said you're going to find that hard, especially when you already have debt. In the few cases I've seen taking out a loan to pay off debts has always ended up hurting more than it fixes.
I just don't know what to do. I've done everything I can and I honestly have a feeling my girlfriend is going to leave me any day now. She wont talk to me like she usually does and she just keeps putting everything on me. She never tells me that everything is going to be ok or even tries to help in anyway. I just cant take it. Ive been strong for so long and I feel like its all going to be one huge waste of my time and effort. I love my girlfriend and my beautiful ass son. I'm trying to hold myself togethor but I just have no support. This isnt fair and I cant beleive its happening. I literally feel like life is trying to make me jump off a bridge. Im staying strong as i possibly can but as I am typing this my hands are shaking as if I was freezing. I hate looking like a charity case because I have to be a man for my son.
Bro right now looking like a man in front of your son isn't what matters. What matters is getting him you and your girl fed. Having a place to sleep. Being able to stay alive! If you set up a paypal I would be glad to donate whatever I can and as the above post said I'm sure many other people would donate as well.
[QUOTE=White;40030856]I hate looking like a charity case because I have to be a man for my son.[/QUOTE] That depends upon your view of charity, from what I can see you feel that having to borrow/receive money is demeaning or means you're inferior. That's far from the case, we're humans, we rely on each other for sustenance and to help each other out. If anyone is to be demeaned or inferior it's the people who you owe the debt to. Frankly I've seen my fair share of companies holding debts against people and trying their best to extort as much money as possible from them all while saying ("it's nothing personal, just business!"). Heck my own aunt slit her wrists over debt in the past and luckily was found by her daughter who decided to go home for lunch otherwise she would have been a goner.
Not trying to be rude, but the last time Facepunchers donated to another Facepuncher, shit got out of hand. Also, you really should try to talk to your family if you can/have any. Talk to any friends or teachers you know/knew. Facepunch isn't exactly a good source for knowledge on life beyond 20.
[QUOTE=White;40030856]I just don't know what to do. I've done everything I can and I honestly have a feeling my girlfriend is going to leave me any day now. She wont talk to me like she usually does and she just keeps putting everything on me. She never tells me that everything is going to be ok or even tries to help in anyway. I just cant take it. Ive been strong for so long and I feel like its all going to be one huge waste of my time and effort. I love my girlfriend and my beautiful ass son. I'm trying to hold myself togethor but I just have no support. This isnt fair and I cant beleive its happening. I literally feel like life is trying to make me jump off a bridge. Im staying strong as i possibly can but as I am typing this my hands are shaking as if I was freezing. I hate looking like a charity case because I have to be a man for my son.[/QUOTE] Is there anyway to have a sit down with your girlfriend and rationally go over the situation you two are in? Or would she just ignore it or begin an argument? A successful relationship is made of partners working together in the worse of times, not one putting the blame all on the other. By what your saying, I don't see that she's being fair to you but it's understandable with such stress. If she starts yelling or arguing, the best thing to do is keep calm no matter what and continue a dialogue with her over the issues. The worse thing you could do with her in such a situation is ignore/end the conversation once she begins to argue or start arguing/yelling back.
[QUOTE=cdlink14;40030731]If you're willing to set up a paypal or such to receive donations, I (and I'm sure many others) would be glad to throw a few bucks your way. As for taking out a loan, as others have said you're going to find that hard, especially when you already have debt. In the few cases I've seen taking out a loan to pay off debts has always ended up hurting more than it fixes.[/QUOTE] [url]http://facepunch.com/showthread.php?t=1256351[/url]
What to consider if taking out a loan? Whether not the guy who spots you money is a sketchy mobster who will go after you with flying lead. AKA don't be stupid and get from a bank. At least banks will only chase you with flying % signs.
Try looking up charities that can help with medical bills and stuff, your kid doesn't care where the money's come from he just wants his parents to stop fighting.
Payday loans don't generally do credit checks so you could go there, although expect to pay loads back.
[QUOTE=matt.ant;40032917]Payday loans don't generally do credit checks so you could go there, although expect to pay loads back.[/QUOTE] I would highly recommend avoiding this at all costs. These type of loans can expand very fast. Not to mention they're ridiculous, you borrow £10 and pay back £60. The longer you take to pay back the debt the bigger it becomes. I've heard of simple £10 debts increasing as much as £10,000.
Payday loans have high interest. I recommend you avoid them and try to get a loan with a very low interest rate. If a bank is willing to give you a loan you should be a little wary, they might be predating on you. Does your government offer loans? Those might be a good choice.
Does your country pay unemployment benefits or childsupports? If you must take loan or sth, ask from your parents/relatives.
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