Signature Loans
SkipTracingThe debt collector is very good at using all the information at their disposal ..... ...... way, I may want to rent $5,000.00 in a couple of weeks. Will you hold on to $5,000.00 for me?"
What you are doing is pre-qualifying for a $5,000.00 loan. You are saying, "Hey, Mr. Loan Officer, are you going to raise my next signature loan to $5,000.00 or is $3,000.00 the limit?" What can he say? You have just paid off the $3,000.00 loan, and the rent for the loan, and you have just reinforced the point that the rent, or interest, on the loan is what keeps the bank in business and pays his salary. If he answers with something like "We'll see.", sit back down at his desk and say, "You mean you're not sure? What seems to be the problem?"
It is very important at this point that you get some kind of answer from him in advance. It is very unlikely that a "Yes" will come forth, but a "sure" or "I suppose" will do. Do not leave the bank until he commits to the next loan. With each new loan, raise the dollar amount by $2,000.00 increments, until you have reached $10,000.00. At that point, you will be able to raise the amounts of future loans in $5,000.00 and $10,000.00 increments.
How To Dispute Credit Report ErrorsFTC - April 1996 Your credit report contains information about where you work and live and how you pay your bills. It also may show whether .....
When shopping for aggressive banks, ask the loan officer you are dealing with if they are a "commissioned" loan officer. They are the most aggressive as they are paid a commission on all the loans they write. These people will be more eager to make you a loan.
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