How long does it usually take for a personal loan to be approved?

Filed Under: Personal loan    by: Admin
personal loan
My partner and I submitted the final documentation yesterday and the finance company was quite vague about how long it will take for them to find a lender and approve the loan. They have told us ‘up to ten days’ which sounds fairly long. Does anyone have previous experience with obtaining a personal loan and can shed some light on how long we can expect to wait. Ideally, we would like to have the money within a few days. We have clean credit history.





Is a loss from a personal loan the same tax category as a loss from stock investments?

Filed Under: Personal loan    by: Admin
personal loan
I loaned a friend some money several years ago to help start a business, and the business failed and I was not repaid for the loan. I also, the same year, had losses from other investments (in the stock market). My understanding is that I can only deduct $3000 in investment losses for that year. Is the personal loan in the same category as the other investments — in other words, does it count as part of the $3000 limit? Or is there a way I can claim that loss separately? Thanks!





If I consolidate my student loan with a personal loan can I still write off the interest?

Filed Under: Personal loan    by: Admin
personal loan
I had a federal student loan which I consolidated about 8 years ago to someone who eventually sold that loan to Citibank. I pay about 8.35% in interest. I am considering paying off that student loan with a personal loan where I can get a better interest rate. If I do this will I still be able to write off the interest I pay on my taxes?





Is it better to consolidate debt into an existing personal loan than have credit cards and a personal loan?

Filed Under: Personal loan    by: Admin
personal loan
Hope this makes sense. Just after some serious advice on whether I should consolidate all my credit cards again into an existing personal loan. Also not looking for lectures, I’ve learned my lesson.
please note I’m in Australia so interested only in Australian financial advice that is relevant for me





What reasons can you use a personal loan for?

Filed Under: Personal loan    by: Admin
personal loan
I am looking to get a personal loan. Can anyone tell me what activities they won’t offer loans for? I’m just curious. I want it for home improvement, but it just got me thinking about it.

ALSO can anyone recommend a low cost loan from anywhere?





How do you obtain a personal loan from a bank?

Filed Under: Personal loan    by: Admin
personal loan
I need a personal loan to pay off my bills and basically just get caught up financially, and is considering going to a bank and asking for a personal loan for the first time. Other than student loans, car loans, and check-n-go stores, I’ve never went into a bank to ask for money because I didn’t think I would qualify. Now I need to know what the whole loan process would require from me.