While i was in iraq from 05-06, the wife switched banks becaues of money getting taken out of our account by some pimple faced hacker probably downloading porn.
My bank alerted us after 2500 bux had been sucked out of my payroll deposit of 6900 for that two week period.
The bank was aware but was not able to stop them until they had thier subcontact agent start tracking.
Long story short, i had a lot of issues with that bank.
We started up a new account at the Bank of Monroe here closer to the house. Anyway,, we've been with them about a year or so and i went in looking to borrow a small amount,, about 1800. THey advertise no colateral and such for loans under 3 grand.
In short,, since i really dont get out much and "know" many people in the county,,,,and,,,,, My last name is odd to the area, the loan officer seemed kind of offstandish.
He did a credit check and it showed i had a score of 769 which isnt bad. He see's i dont have much revolving credit and that im on time on any and all payments based on a 90 month snapshot of my payment history.
He asked that i just bring in a couplet car titles as colateral for the 1800 bux i wanted to borrow. I asked him why he wanted that, it was my impression they required no colateral for loans under 3 grand.
He pissed and moaned a little as though he wanted to say something,, i just decided to volunteer the very statement he really did not want to say.
I said,,"I suppose since i havent borrowed from you all before and you really dont know me,, i have to sort of earn you alls respect,, right?"
He said "yep, you nailed it".
Im kind of pissed in a way cause in order to get the 1800, i have to give up the title to the kia sophia 1996 and the 1990 Full size bronco. I feel kind of descriminated against because if he knew me ,,,ie- your the cousin of joe shmo , or "oh yeah, i know you from that party back in xyz time frame:" I might have gotten the loan easier.
If i dont have family here or relatives ect, its always gonna be like this.
Any suggestions? I really think its descrimination. If i walk in tomorrow and refuse to give the titles,, then i wont get the loan. Can they really refuse you a loan just because of who you know and who you blow?
Yup. It's their money, they can do with it as they please. I'd tell them to kiss my butt for that little bit of money and find someplace less, um, provincial. Maybe there's a community credit union around? Be a better place for your money too... Heck, what kind of rate will you pay? I might be willing to loan you that myself... of course my rate would be higher than theirs. If your eventual objective is to establish a "relationship" with them you'll need to go back with your hat (and collateral) in your hand.
Talk to the manager of the bank and tell them what their employee stated to you about having to know someone to get money and that they where very rude about it.
That should get you somewhere,if not then tell them you'll close your accounts and take your buissness elsewhere.
I can’t believe he wants 3 car titles for 1800. Either one should be enough. And yes today’s time a lack of credit is like bad credit go-figure. Your probably one of those guys who likes to pay for everything in cash(old-fashion) but you should use your credit cards more often and always pay them on time even if it’s the minimum payment. And you could even borrow money from them.
With all that said looking at the picture of you house isn’t that good enough to borrow money.
My current town is the same way. I go to the town where I grew up, and it's alot easier to get a loan. Just the way it is, I guess. Bummer for you, though.
all of that you just said was way off. I do have cc's and i rarely pay cash for things. I just charge it and pay it off. Ive had plenty of loans through my other bank, paid them off to. I have a fairly long list of this stuff on my credit report. The thing i do is close accounts that need closed and that is reflected on my credit report.
as of now,,
i have my home loan
my cc
my debit cards
my lowes card
and my regular bills like most folks.
769 credit report says it all, so o well. tomorrow ill just look into a home equity loan from the other bank i use to deal with. My current bank doesnt do those nor do they do VA loans. Pretty much makes them useless to me.
Are you out of the military now? If you don't mind me asking....
Brian
That is BS! You have a good credit score and that's all they should really go off of. I'd shop for other banks. Someone will loan you the money.
It's thier loss.
I would give them the titles, make my payment's. get to know them. earn there respect. and live happely ever after.
Sounds like a pretty down home way of doing biz... why not? bruise your ego or something?
First of all he's demanding more collateral than he's loaning you. He can't do that. Offer him either title and if he says no tell him you're going to have your lawyer look into the legality of it.
I'd bet $10 to a donut he backs down.
Close up shop and take your buisness elsewhere.
yeah, ive been out going on 13 years. I was in for 9 active and 6 reserves.
By the time I'll get out I'll have 4. Which should be in a couple of months depending on how much they give me for disability.
switch to a credit union. my wife and i left our bank after some shady dealings and went to a credit union... i took out a $2500 loan the following week with no questions asked... just signed on the dotted line and they handed me cash. it took all of 5 minutes of my time.
How is that descrimination? What grounds is he biased against you? Is he biased against strangers? I don't think that's illegal.
On one hand, banks are very hesitant to lend money as of late, due to the high number of mortgage failures and foreclosures. Banks are getting screwed...so you'd better believe they're going to lend money very shrewdly for the time being.
On the other hand, it doesn't seem as if Scott presented that high of a risk, so why the third degree from the representative? It's less than $2 grand...that's beans to a bank. And with his credit history and score (that is a great score, BTW) there is simply no excuse for being treated like that. It doesn't matter if he took out a loan there before, or not. Two grand is nothing. Scott is fully in the right. Time to shop elsewhere.
not that I’m an expert but isn’t a credit score of 769 really good I think 800 is perfect you had me thinking you had a bad credit score now that I’m thinking I was way off yesterday screwing up my numbers thinking your 769 was like 569.
i tought about everyones ideas and all, no im not whinning ect. I handled it today however and did it fairly smooth i think. I just called up my old bank,, got a few hundred handed with no colateral. I also went ahead and had them start a home equity loan for bout 10 grand. Ive always been told its a good thing to do so if you ever have an appliance break or just simply need supplies for a diy project, you just go to the bank and withdraw what you need.
so its taken care of. as for the other bank, ijust nicely talked to them and asked to cancel the application with no quesitons asked.
good to go i guess.:D