Personal Loans: The Good, the Bad, and the Ugly

Here’s the good, the bad, and the ugly when it comes to Personal Loans. You require a cosigner to make it work. There’s no two ways about it. A cosigner will enable you to acquire loans even if …

Here’s the good, the bad, and the ugly when it comes to Personal Loans. You require a cosigner to make it work. There’s no two ways about it. A cosigner will enable you to acquire loans even if you have bad credit and the last thing you want to go through is a credit check from the trio of credit bureaus, which are TransUnion, Equifax, and Experian. Your cosigner should himself have a stable job and a good credit history in order to serve as your guarantor of sorts. Otherwise, you’ll have a long road ahead of you when it comes to convincing your lender that you’re good with the money. The point here is that when lending money, it’s foolish to not have some sort of guarantee or guarantor as insurance for the financial risk, and no self-respecting lender would provide a personal loan without some sort of “catch” in play. There’s no such thing as free money, and you’ll need a cosigner in order to qualify for a loan. That cosigner will serve as your backup whenever you’re late with payments and whatnot (which is something a lender would expect because you never agreed to any credit check, so it’s a given that they’ll expect the worst from you).


Every loan in existence has some sort of guarantee attached to it. For bank loans, they entail strict payment terms (24-36 month installments, depending on how big the loan is) and a credit check to see what your financial assets or liabilities are. For fast cash loans, it’s your upcoming check (hence the other name for the loan, “cash advance” loan). For logbook loans, you need to be a car owner and you can only borrow an amount roughly equal or less than the value of your car that you’ve set as a guarantee. Even credit cards for bad credit have high interest rates and punishing late fees in exchange for the privilege of getting a card despite your bad credit. The personal loan is no different. You cannot get a cosigner who’s in a financial mire that is as bad as or even worse than yours. Many people refuse to be cosigners because if the borrower defaults, the cosigner will be held responsible by the lender to take care of the unpaid debt. The financial reputation of the cosigner can also get tarnished by having a borrower who runs away from loan payments. There have been friendships that have ended because of the consequences of cosigning for a bad-credit borrower.

75 thoughts on “Personal Loans: The Good, the Bad, and the Ugly”

  1. Aw, this was an incredibly good post. Finding the time and actual effort to produce a
    good article… but what can I say… I put things
    off a lot and don’t manage to get anything done.

  2. Hi just wanted to give you a quick heads up and let you know a few of the images aren’t loading correctly.

    I’m not sure why but I think its a linking issue. I’ve tried it in two
    different web browsers and both show the same outcome.

  3. I read this post completely regarding the difference of hottest and previous technologies, it’s remarkable article.

  4. Thanks a bunch for sharing this with all people you actually
    recognise what you are speaking about! Bookmarked.
    Please additionally consult with my website =).
    We could have a link exchange agreement among us

  5. Pretty nice post. I just stumbled upon your blog and wanted to say that I’ve really enjoyed surfing around
    your blog posts. After all I will be subscribing to your rss
    feed and I hope you write again soon!

  6. Asking questions are in fact good thing if you are not understanding
    something fully, except this paragraph offers pleasant understanding even.

  7. I don’t even know how I ended up here, but I thought this
    post was good. I do not know who you are but certainly you’re going to a famous blogger
    if you are not already 😉 Cheers!

  8. What i don’t understood is if truth be told how you’re
    no longer really much more smartly-liked than you may be now.
    You are so intelligent. You understand therefore considerably with regards to this topic, produced me in my opinion believe
    it from a lot of varied angles. Its like women and men don’t seem
    to be interested unless it’s something to accomplish with Lady
    gaga! Your individual stuffs nice. Always take care of it up!

  9. This is really interesting, You’re a very skilled blogger.

    I have joined your feed and look forward to seeking more of
    your great post. Also, I’ve shared your site in my social networks!

  10. It’s a shame you don’t have a donate button! I’d certainly donate to this superb blog!

    I guess for now i’ll settle for book-marking and adding your RSS feed to my Google account.

    I look forward to fresh updates and will share this blog with my Facebook group.
    Talk soon!

  11. This is the perfect web site for everyone who really
    wants to find out about this topic. You realize so much its
    almost hard to argue with you (not that I actually would want to…HaHa).
    You certainly put a fresh spin on a subject which
    has been discussed for decades. Wonderful stuff, just

  12. It’s amazing to pay a quick visit this site and reading the views of all friends on the topic of this
    post, while I am also eager of getting knowledge.

  13. Normally I do not read article on blogs, but I wish to say that
    this write-up very forced me to try and do so! Your writing taste has been amazed me.

    Thank you, quite nice post.

  14. Just desire to say your article is as astonishing.
    The clearness in your put up is just great and i could think
    you are knowledgeable in this subject. Well with your permission let me to
    clutch your RSS feed to stay updated with forthcoming post.
    Thank you one million and please continue the enjoyable work.

  15. Its like you read my mind! You appear to know a
    lot about this, like you wrote the book in it or something.
    I think that you could do with some pics to drive the message
    home a little bit, but instead of that, this is fantastic blog.

    A great read. I’ll certainly be back.

  16. Greetings! I’ve been following your blog for a while now and finally got the courage to go
    ahead and give you a shout out from Huffman Tx! Just wanted to
    mention keep up the good job!

  17. An interesting discussion is worth comment. I believe that you should publish more about this issue, it might not be a taboo matter but generally people don’t talk about these issues.
    To the next! Best wishes!!

  18. Write more, thats all I have to say. Literally,
    it seems as though you relied on the video to make your point.
    You obviously know what youre talking about, why throw away your intelligence
    on just posting videos to your weblog when you could be giving us something informative to read?

  19. I love your blog.. very nice colors & theme.
    Did you make this website yourself or did you hire someone to do it for you?
    Plz answer back as I’m looking to construct my own blog and
    would like to know where u got this from. cheers

  20. The other day, while I was at work, my sister stole my iphone and tested to see if it can survive a 40 foot drop, just so she
    can be a youtube sensation. My apple ipad is now broken and she has 83 views.
    I know this is totally off topic but I had to
    share it with someone!

  21. May I simply just say what a comfort to find someone that really understands what they’re discussing on the net.
    You definitely know how to bring a problem to light and make it important.
    A lot more people have to check this out and understand this side of your
    story. I was surprised you aren’t more popular given that you certainly
    have the gift.

  22. hello there and thank you for your information – I have definitely picked up something new from right here.
    I did however expertise some technical issues using this website, as I experienced to reload the
    site a lot of times previous to I could get it to load
    correctly. I had been wondering if your web hosting is OK?
    Not that I’m complaining, but slow loading instances times will very frequently affect your
    placement in google and could damage your high quality score if ads and marketing with Adwords.
    Well I am adding this RSS to my email and could look out for a lot more of your respective fascinating content.
    Ensure that you update this again very soon.

  23. Hello my friend! I wish to say that this post is amazing, great written and come with approximately all significant infos.
    I would like to see extra posts like this .

  24. I got this site from my friend who shared
    with me about this web page and at the moment this time I am browsing this web site and reading very
    informative articles at this time.

  25. Please let me know if you’re looking for a writer for your weblog.

    You have some really good articles and I think I
    would be a good asset. If you ever want to take some
    of the load off, I’d love to write some content for
    your blog in exchange for a link back to mine. Please send me an e-mail
    if interested. Kudos!

  26. Howdy! This blog post couldn’t be written any better!

    Looking through this article reminds me of my previous roommate!
    He always kept preaching about this. I most certainly will forward this
    post to him. Pretty sure he’ll have a very good
    read. I appreciate you for sharing!

  27. I am not sure where you are getting your info, but good topic.
    I needs to spend some time learning more or understanding more.

    Thanks for wonderful info I was looking for this info for my mission.

  28. Heya i’m for the first time here. I found this board and I
    find It truly useful & it helped me out much.

    I hope to give something back and aid others like you aided me.

  29. Hey there! I know this is kinda off topic but I was wondering if you knew where I could get a captcha plugin for my comment
    form? I’m using the same blog platform as yours and I’m having problems
    finding one? Thanks a lot!

  30. Attractive section of content. I just stumbled upon your weblog and in accession capital to assert that I acquire actually enjoyed account your blog posts.
    Any way I will be subscribing to your augment and even I achievement you access consistently quickly.

  31. Hi! This is my first comment here so I just wanted to give a quick shout out
    and say I truly enjoy reading your blog posts.
    Can you recommend any other blogs/websites/forums that go over the same subjects?
    Appreciate it!

  32. It’s really a great and useful piece of information. I am satisfied that you shared this useful info with us.
    Please keep us informed like this. Thank you for sharing.

  33. No matter if some one searches for his vital thing, so he/she desires to be available that in detail, so that thing is maintained over

  34. After going over a handful of the blog articles on your
    site, I really like your technique of blogging. I saved it to my bookmark webpage list and will be checking back soon. Please visit my web site too and tell me what you think.

  35. Hey There. I found your blog the usage of msn. This is an extremely smartly written article.
    I will be sure to bookmark it and return to learn more of your useful information. Thank
    you for the post. I’ll definitely return.

  36. My brother recommended I might like this web site. He was entirely right.
    This post truly made my day. You cann’t imagine simply how
    much time I had spent for this information! Thanks!

  37. Oh my goodness! Impressive article dude! Thank you so much, However I am experiencing difficulties with your RSS.
    I don’t know why I can’t join it. Is there anybody else having the same RSS issues?
    Anyone that knows the solution will you kindly respond? Thanks!!

  38. We are a bunch of volunteers and opening a
    brand new scheme in our community. Your website provided us with useful information to work on. You have performed a formidable
    task and our entire community can be grateful to you.

  39. Howdy! I know this is kinda off topic however , I’d figured I’d ask.
    Would you be interested in trading links or maybe
    guest writing a blog article or vice-versa?
    My blog goes over a lot of the same subjects as yours and
    I believe we could greatly benefit from each other.
    If you might be interested feel free to send me an e-mail.
    I look forward to hearing from you! Fantastic blog by the

  40. Amazing issues here. I am very satisfied to peer your post.

    Thanks a lot and I’m looking ahead to contact you. Will you kindly drop me a mail?

  41. Thanks for one’s marvelous posting! I genuinely
    enjoyed reading it, you are a great author.I will make certain to bookmark your blog and
    will come back later on. I want to encourage continue your great job,
    have a nice weekend!

  42. Thanks for every other informative web site. The place else
    could I get that kind of information written in such an ideal manner?

    I’ve a project that I’m simply now running on, and I’ve
    been at the glance out for such information.

  43. Aw, this was an incredibly good post. Taking
    the time and actual effort to create a really good article… but what can I say… I procrastinate a lot and never manage to get anything done.

  44. Just desire to say your article is as surprising.
    The clarity in your post is simply nice and i could assume
    you’re an expert on this subject. Well with your permission let
    me to grab your feed to keep updated with forthcoming post.
    Thanks a million and please continue the rewarding work.

Leave a Reply

Your email address will not be published. Required fields are marked *