Need A Personal Loan...not a payday loan

I'm currently in need of a loan for about $1000-$1500 to pay for some final wedding arrangments. I work full-time with roughly $2k net income give or take and my credit is in the bad-to-fair range. I had a couple late payments back in 2007 but since then have always been on time. My credit score is roughly around the 600 area, give or take. I have about 3 credit cards, 2 department store cards, and a car loan under my name and have all been on time payments. I did apply for a loan with American General Finance in early February and was just on the borderline to get approved, by their requirements, but they requested a co-signer to get me over that hump but could not find a co-signer so I'm hoping to get a bad credit loan without having to use a cosigner.

I've searched online for loans but either the website just seemed suspicious to me or I was being taken to a payday loan form, which I do not want to apply for a payday loan. Can someone help me out? Would like to apply for this loan ASAP.testtest

First of all, it is great that you are paying your bills on time. That is a very important step to maintain and build your credit. American General is a very popular lender and will work with consumers to provide much needed financing. How much did you ask for back in February? What was the term?
Normally, given everything stays the same, lower loan amount and shorter term would increase your chances to be approved. I definitely want you to stay away from payday loans, unless you can bay it back in 30 days, or "guaranteed, deposit up front loans" which your can read about on our forums.
Also, shop around, check with your local bank, ask you friends and family if they can loan you money. There are options.testtest

This message was edited 2 times. Last update was at 04/15/2009

In February I initially requested $1500. At the same time in February I paid off a loan that was, at the time, open with them. Their reason for not approving me was because they have this forumla I guess of how much my pay is verses how much would go to my bills. The amount that they calculated verses the amount that I needed to be at, per their guideline, was about $100 off. They requested me to acquire a co-signer which I did not want to do so I just left it alone. My payment history with them has been excellent which I sort of thought maybe they'd make an exception.

Would it be a good idea to try to apply again now, since 2 months have passed, maybe thinking I might get a second chence and my request is a little lower? I thought about looking at local banks but I figured since my credit is less than perfect they might not even give me any attention. I currently bank with Washington Mutual or I should start saying CHASE. I definitely wanted to stay away from payday loans because I alreayd know I won't be able to pay back that much money by next payday and all the horror stories I've read about.testtest

This message was edited 1 time. Last update was at 04/17/2009

What you refer to is called DTI or debt to income ratio. It is commonly used by the lenders to decide if customer can afford a new payment structure. You also said that back in February you paid off a personal loan.Well the chances re it was not reflected on your credit report at that time. It may be a good idea to check all three credit scores and reports before applying to see if this loan's status shows as "Paid".
I would recommend to give it another shoot and hopefully this time around it will work.
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Unfortunately I did try yesterday with American General Finance and was denied because of my budget. testtest

I HAVE A SHORT TERM CASH FLOW PROBLEM AND HAVE BEEN TRYING OT GET A LOAN FOR ABOUT FOUR ($4000) DOLLARS. ON THE FIFTHTEEN RO MAY I AM ELIGIBLR FOR A PENSION LOAN THAT I TAKE EVERY YEAR FOR ABOUT FIVE THOUSAND DOLLARS TO PA Y FOR THINGS LIKE TOTAL CAR INSURANCE AND VARIOUS OTHER SMALL DEBTS. I'VE TRIED PERSONAL LOANS SECURED AND UNSECURED WITH NO SUCCESS. I ALMOST WENT WITH CAR TITLE LOAN ON MY CLASSIC 96 IMPALA SS BUT DECIDED AGAINST THAT EVEN THOUGH I KNOW THAT THE LOAN WOULD BE PAID OFF ENTIRELY WITHIN THE NEXT FIVE TO SIX WEEKS. IF I CAN'T GET A LOAN I'LL PROBABLY HAVE TO DEFAULT ON ALL THE ACCOUNT IHAVE THAT ARE KNOW CURRENT.testtest

micarmilny - when you applied for the loans did they tell you why you were declined? Any possibility of borrowing from a friend or relative for the next five weeks until you get your pension loan? Or maybe one of the peer-to-peer lenders?testtest