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cheese eats mouse posted:Mine was funded fairly quickly by 1 person, but I mentioned I was already pre-approved by another loan company, but wanted to beat that rate. My rate with OneMain was 30% while LC was 16% so i quickly severed ties with OneMain after I was fully funded. I would highly recommend it for really small short term loans. Mine was 1,000 and I budgeted paying for 10 months. The only downside is if you want to make more than the monthly payment you have to e-mail support every month. You can make it permanent, but you sacrifice any hardship claims and limit your options and the monthly amount cannot be adjusted. My experience way back then was that it was ridiculously easy to borrow the $6,000 I wanted. I didn't do a good job of reassuring lenders that it would be paid back or justifying my reasons for borrowing, I didn't post detailed income/expenses and it was still funded easily. I imagine that after the crash it's different now.
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# ¿ Jun 17, 2013 18:22 |
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# ¿ May 6, 2024 05:07 |
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Dantu posted:I've been toying with the idea of applying for a loan to consolidate my credit card debt. My CC debt is bad, but not horrendous, around 11k. Even if the rate ends up being comparable, isn't an installment loan better for your credit rating than revolving debt? I didn't see anything about this in the OP, sorry if it's been asked, but is there any early repayment penalty?
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# ¿ Jul 25, 2013 22:22 |
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Even as far back as 2006 or so before the crash when I was looking at Prosper's community, there was a lot of unhappiness about the number of defaults and especially the collection efforts on defaults. Almost 0 defaults ever had any amount collected; it even seemed that there was little to no effort to collect by the 3rd party agencies chosen to do so. It's probably very much in their best interest be careful about approving notes.
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# ¿ Nov 4, 2013 21:30 |