I've applied for a loan. How long does it take to get back to me?

Soldato
Joined
4 Jan 2004
Posts
4,100
Location
Sheffield, England
Walked into the bank, asked to see the manager, was seen immediately.

Manager was gorgeous and she immediately extended my loan to get a new bike.

When going through my details we both happened to mention we were single. Flirting ensued. Left it there, as you do.

Facebooked her. Taking her out on friday.

Result.
 
Soldato
Joined
4 Jan 2005
Posts
14,879
Walked into the bank, asked to see the manager, was seen immediately.

Manager was gorgeous and she immediately extended my loan to get a new bike.

When going through my details we both happened to mention we were single. Flirting ensued. Left it there, as you do.

Facebooked her. Taking her out on friday.

Result.

Haha, your signature matches this post perfectly!
 
Soldato
Joined
19 Jan 2006
Posts
15,940
Walked into the bank, asked to see the manager, was seen immediately.

Manager was gorgeous and she immediately extended my loan to get a new bike.

When going through my details we both happened to mention we were single. Flirting ensued. Left it there, as you do.

Facebooked her. Taking her out on friday.

Result.

excellent work!
 
Soldato
Joined
30 Jul 2005
Posts
2,834
Location
Bristol
Walked into the bank, asked to see the manager, was seen immediately.

Manager was gorgeous and she immediately extended my loan to get a new bike.

When going through my details we both happened to mention we were single. Flirting ensued. Left it there, as you do.

Facebooked her. Taking her out on friday.

Result.

Much more interesting than talking about Loans !
 
Permabanned
Joined
26 Jun 2010
Posts
0
The last post I read by you, you were talking about putting willies inside girls. I assume the above was written by your very sensible wife again :p.

Lol. No, she is at work earning the pennies. Putting willies in girls is a valid topic of conversation however. ;)
 
Soldato
Joined
8 Jun 2005
Posts
8,401
Location
United Kingdom
Getting a loan to pay off another loan is a step towards the path of madness.

Exactly!

Are you using these loans to buy jeans by the pallet load?

hahaha how can anyone forget that thread :D

Shep,

I really don't think this will help but here it goes.

There are many many factors when using a new loan to pay off another when considering to do so. Some things (from reading the thread) that I could suggest would be.

Take out a loan for the minimal amount you need whilst using savings to pay off existing loan.

Make sure new loan is equal or shorter than existing.

Make sure the rate is less than currently.

IF you take out a new loan and ZOMG only £20 more a month but 1 yr longer but ZOMG 1.5k in pocket you need to understand the basics on how loans work. You will be worse off!

Also, applying for multiple loans is doomed to destroy your rating. Each time you apply for credit, a credit agency (such as Experian) will record this. Having applied for 2 loans now shows 2 applications within the same time.. its bad. Applying for credit always dents your current rating.. think of it as a points based system. You use points when you apply for something.

You applied twice, you used more points. Now no one will want to touch you.. until you get more points by paying bills/direct debts/loan payments each month.

If you miss a payment/late fee. Again, you lose more "points".
 
Soldato
Joined
8 Nov 2006
Posts
22,966
Location
London
£6500 is the settlement figure. Do you know if that includes any penalties?

If not, increasing your debt levels as long as you can pay for it is fine.

However, people have been correct in pointing out it is better to pay off loans earlier than keeping savings. Savings at best are currently earning 3% while loans are at a much higher rate. If it turns out you needed the savings, you can always increase your debt levels then.
 
Soldato
Joined
8 Nov 2006
Posts
22,966
Location
London
How can it be, when his second sentence is:

'I have 3 years / 7.5k left to pay on my loan'

?

Wouldn't it be great to be able to settle a loan for less than what you owe :D.

He may have calculated in terms of repayments though.

For example, adding up mortgage repayments will always be lower than the settlement amount.

If I settle now, I don't owe interest for x years.
 
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