Chosen by Asker

Yes.... but the more liabilities you have, the higher the interest rate you will get. Because you have no assets, it will probably be higher than expected if you do qualify. Check your debt to income ratio, the percentage of monthly bills vs. monthly income. You want to be below 36% generally.

by dpferguson29

3 years ago

Asker's Rating: 

It would depend on you credit score.I would ask why do you need a $ 6000 loan if on your plate you have other debts that need your attention.I would recommend going to your local credit union and consolidate the all the debt and you could pay it off faster and increase your credit score.

by archduke- 3 years ago

I was approved for $10,000 unsecured loan at 24% interest. I burned through the money in less than 2 weeks. The loan was discharged in bankruptcy along with my other credit card and medical debts. I would focus on making the monthly payments on your current debts without incurring additional debt. Homes are no longer banks - the poster who said this has lost track of reality. The poster who said that one needs $10,000 in assets per $1,000 borrowed has also lost track of reality.

by Karpenisi_Ted- 3 years ago

you can always apply for a loan at any bank. they are required by federal law to accept and process your application. they can't just flat-out deny you. however...typical bank policy is that in order to have an unsecured loan, you must have $10,000 worth of assets per $1000 borrowed. unsecured loans are very rare in the banking industry. your credit report does play a part in the approval process---most banks don't even look at anything lower than 620-600. having said that...present credit history is more important than past history. it never hurts to try. the worst that can happen is they deny you and your credit score loses a few points because of their inquiry.

by centerstage- 3 years ago

No. You have to much debt and possible bad credit. If you have no collateral there is no possible way for a bank or loan company to give you a loan as well. There are some loan companies such as payday loan which may give you a loan up to a limit of 2500 dollars but remember the interest is 100% so if you get a loan from them of 2500 dollars you will be paying about 5000 back due to the interest. The fact that you dont have assests is a problem if you had a home or owned a car your possibilies would be greater to receive a loan. I always tell people owning a home is like having your own personal bank that you can take money out of in emergencies. Good luck

by LiL Diva- 3 years ago