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Thread: LOAN QUESTION

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    UNIBE2B is offline Newbie
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    LOAN QUESTION

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    Hi all...

    What are the chances of getting approved for a private loan w/bad credit (no BR or public records, etc...) with a co-signer who has NO credit (good or bad)?

    Thanks...

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    FoxTrot is offline Senior Member
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    ..

    Close to nothing.

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    johndoe456732 is offline Member
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    There is hope

    Every time I see this question, I feel like a broken down recorder.

    You will need to clear your credit before starting school as I and many others have done. It is not impossible and can be done.

    If you have the time to do it yourself, than use this website:

    http://www.creditboards.com

    It's the best do-it-yourself source for information on the web.

    If you don't have the time to clear your credit than use this service:

    http://www.ez-credit-repair.com/talk/

    This is the only reputable credit repair service that I was able to find. The guy who does it is the best that I have seen at what he does (and I used 4 credit repair services). Check out the forum if you need more info.

    Hope that helps.
    Formerly known as "AUCDOCTOBE"

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    UNIBE2B is offline Newbie
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    Thanks

    Thank you guys for the response. I am already working on cleaning up my file, and I do read the posts in the credit board. I was just curious, what's the cosigner needed for if I need to have a perfect credit anyway?

    Thanks

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    archon218 is offline Member
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    not good

    not good

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    johndoe456732 is offline Member
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    Some schools

    Some of the Medical schools outside of the big 3 have costs that go beyond the aggregate limit of the Terri Loan. It used to be like this at St. Eustatius (they may have changed it now). When your costs -- living expenses, tuition, ect.. -- exceed the aggregate limit of your loan than you must have a cosigner. In addition, the Terri loan requires some schools to have a cosigner as a form of security in case of delinquency, regardless of your credit. You can call Terri themselves and check. It does vary depending on the school.

    Moral of the story: Stick with the big 3 if you have any doubts about getting your loan. This is not because they are any better than the other medical schools. It's because their financial aid system is better with those stafford loans.
    Formerly known as "AUCDOCTOBE"

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