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Personal Loan Alternatives for relocation?

finances5

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I just tried for a personal loan from a credit company to help me with the move. Whereas I'd not only be moving from one place to another whereas the rental prices are generally more expensive but also that the cost of living is as well.

And in spite of my showing them that not only do I have a good credit and but also that even my income is above their minimum requirement. However, since some of my income is also based on commissions, they cannot accept it on that level. Since commissions can fluctuate and all.

Anyone know of some good sources or ideas around this? That would accept a loan even on a commission based salary?

Again, the loan would be just to make it a little easier from going to point A to point B. And I could even see possibly paying back all of the loan even before its due date once I settle down in the new area, find a roommate, etc.

I''d appreciate it. Thanks in advance!
 
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V8Bill

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I've never gotten a loan to move, sounds like a dumb way to add more debt.

It's not dumb if the move will make you more money when you get there. Then it's just borrowing money to make money which makes sense and seems like a pretty sound decision, especially if there's guaranteed work or opportunity if you can get yourself to the location.
 

biophase

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I just tried for a personal loan from a credit company to help me with the move. Whereas I'd not only be moving from one place to another whereas the rental prices are generally more expensive but also that the cost of living is as well.

And in spite of my showing them that not only do I have a good credit and but also that even my income is above their minimum requirement. However, since some of my income is also based on commissions, they cannot accept it on that level. Since commissions can fluctuate and all.

Anyone know of some good sources or ideas around this? That would accept a loan even on a commission based salary?

Again, the loan would be just to make it a little easier from going to point A to point B. And I could even see possibly paying back all of the loan even before its due date once I settle down in the new area, find a roommate, etc.

I''d appreciate it. Thanks in advance!

How much is a move? Can you put it on a credit card?
 
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theag

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Sell all your stuff until everything you own fits into a backpack. Move to new city. Get a small apartment there. Only buy a mattress, chair and table. Then build a business. Problem solved without a loan.
 

G-Man

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Sell all your stuff until everything you own fits into a backpack. Move to new city. Get a small apartment there. Only buy a mattress, chair and table. Then build a business. Problem solved without a loan.

@finances5 This ^^^

Personal example. 3 years ago, due to both poor decisions and spending tens of thousands of dollars trying to maintain residency in a foreign country, I found myself literally sleeping in my parents basement at 28 years old with approximately $900 in my bank account.

Let the sheer loserdom of that sink in for a second.

I sold what little stuff I had left, and spent all my time looking for jobs in Texas. When somebody finally gave me an interview, I took a junk car from my parents with a promise to pay $500 later, threw my clothes and laptop in the trunk and drove through the night so that I would arrive in TX in the morning. I then spent the day sitting in Starbucks looking for a sublet on Craigslist. I found somebody that needed a roommate right away, and got a month-to-month steal. I slept on the floor for the first week. The next week I bought 2 of those little hiking mats on craigslist for 40 bucks. I slept on those for over a year.

I didn't even have furniture until I got married. 3 years ago I was sleeping in my parents basement. 2 years ago I was sleeping on a dank military surplus hiking mat on the floor in a $600/mo apartment with drug dealers in the parking lot. 1 year ago I was sleeping on a mattress on the floor in a $700/mo apartment in the barrio. Sitting here writing this I have a modest apartment in a safe neighborhood complete with furniture and even a washing machine. I'm not quite to 6 figures in net worth, which is slightly pathetic at 32 years of age, but when I'm feeling down about it I remind myself of where I was in 2014.

I'm still not even 10% of the way to where I want to be when I'm 35, but I wouldn't have turned my life around as much as I have in the last 3 years if I had thought "let's go get a credit card or loan"

I didn't get a loan or go into debt because there's no such thing as a guaranteed job. Debt makes you less resilient in the event of a shock. There's nothing wrong with using debt as a last option, but most people don't even think about all the things that can be done before going down the debt route.

I still have the $500 beater. It's outlasted everything else I've bought in the last 3 years :rofl:
 
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MattR82

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Sell all your stuff until everything you own fits into a backpack. Move to new city. Get a small apartment there. Only buy a mattress, chair and table. Then build a business. Problem solved without a loan.
Exactly.
 

JWelch

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Sell all your stuff until everything you own fits into a backpack. Move to new city. Get a small apartment there. Only buy a mattress, chair and table. Then build a business. Problem solved without a loan.
Almost exactly what I'm doing.
 

finances5

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finances5

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Yes... That's how they decide what interest rate to charge and where to place you for a loan, i.e. high risk, medium risk, etc....
What is the difference between borrowing from one of the lending platforms (i.e. lending club) and from a bank? What are the pros and cons for each, etc? Thanks again!
 
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G-Man

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jon.a

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What is the difference between borrowing from one of the lending platforms (i.e. lending club) and from a bank? What are the pros and cons for each, etc? Thanks again!
I caught up on the thread clicked out and said wait a minute...
I came back to check. Yup, it's been 6 months.

Why is this still a problem?
 

Liberty T. Vance

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What is the difference between borrowing from one of the lending platforms (i.e. lending club) and from a bank? What are the pros and cons for each, etc? Thanks again!

I couldn't give a better answer than one you would find by following G-Man's advice...


Personally I wouldn't do either one... I would take the earlier advice and sell whatever you can or save what you can and move... If your situation is that dire I figured a small loan from a P2P lender could at least get you moving in the direction you want to go. Only you know what will work for you.
 
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minivanman

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What is the difference between borrowing from one of the lending platforms (i.e. lending club) and from a bank? What are the pros and cons for each, etc? Thanks again!

They are exactly the same except one might have a smaller penis when it penetrates you.

Are you sitting down? Get this.... I've never had a loan. There were times when I had $0.00 for weeks but when I started my base business that was a success, I had $3.17. I've never had a credit card nor a credit score. I always did what it took to do what I wanted to do. Now I can do what I want any time I want and not have to do anything if I don't feel like it. Why do you feel another city will make a difference? Another city, another month, another time...... why not where you are, and now as in TODAY? What is wrong with the city you are in?
 

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