It is worth knowing how much you can afford

I know a lot of people are tempted to get personal loans for various reasons and most banks are more than happy to sign people into them, even with higher costs and rates. I think it is important that before you get a personal loan, you figure out what you can afford. Banks will always be willing to give you more than you can handle so don't fall into that trap.

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May 4, 2020 6:26 PM

I agree with this for sure. I know there are people out there who just hand loans out like candy knowing half the people they give them to will fail. I don't even know what they get out of it when this happens.

May 5, 2020 3:45 PM

Member

Some banks are more strict but many are willing to give people loans, like mentioned, knowing they won't be able to pay them off. It is kind of a crappy thing to do if you ask me.

May 10, 2020 9:15 PM

Member

I think this was the case with the loan I took out. I had bad credit at the time and I was in between jobs but they still approved it. I think this was the one that took my score down a good 50+ points all by itself.

May 17, 2020 9:11 PM

Personal loans are there to help people but it seems like in most cases, it ends up hurting them. You sign on for one in a moment of desperation in most cases and many people out there don't understand the fine print of what they are even signing on for. It is a shame really.

May 18, 2020 7:56 PM