Is there any reason I would be denied a secured loan a few months after my discharge? I mean, if the collateral was more than the loan I was asking for ( which is how I think it works ), what do they have to lose?
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Depends on what you're applying for. You will certainly face your share of denials for a variety of things. If you do get an offer, it will most likely come with a high down payment or a high interest rate or both. A few forum members have gotten some decent rates on car loans lately through credit unions.
Hope that helps.BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
Scores: EQ 745 EX 704 TU 710 as of 08/15/2012 -
lookin for a personal loan. Prob around 5000 or so. I do have collateral I can put down aswell. Also, if i started applying for them and kept getting denied, wouldnt that hurt my credit even more than it is?Last edited by kc1985; 10-13-2009, 11:57 AM.Comment
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