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90s_tuner
05-23-2006, 11:29 PM
I need someone to approve my friend for 3800. Hes 20, no credit but has a steady job. He owes me the money for one of my bikes which he dropped and now has to buy it. Hes been to CIBC and TD, they both pretty much said no.

I need him to get this money because its been over a month and a half now and I'm getting pissed off. :thumbsup:

Tell me some places that would approve him.

GQBalla
05-23-2006, 11:35 PM
he has a steady job why can't he afford to pay you back?

get a co-sign?

asuth077
05-23-2006, 11:43 PM
Thats odd, if he works full time at a steady job he should be able to get the money. Are you sure he is really trying?

90s_tuner
05-23-2006, 11:45 PM
His dad tried co-signing but apparently he owes enough money as it is. :nut:

He would pay me monthly like 200 bucks but I want it in whole; i'm not a bank. Plus I took out money from my savings to get another bike and I need to put it back asap.

His main problem is lack of credit. He had no visa/mc until he signed up a few weeks ago.

FiveFreshFish
05-23-2006, 11:52 PM
Originally posted by 90s_tuner
He had no visa/mc until he signed up a few weeks ago.

Get him to do a cash advance as soon as he gets his credit card. Let him worry about the high interest.

90s_tuner
05-24-2006, 12:02 AM
Originally posted by FiveFreshFish


Get him to do a cash advance as soon as he gets his credit card. Let him worry about the high interest.

Good idea but I doubt they will give him a high enough limit. When I got my first CC it was 500 bucks. I had to make up way up to 7000 over a year.

cocoabrova
05-24-2006, 01:58 AM
What does he have for collateral:dunno:

TrevorK
05-24-2006, 08:25 AM
Wells Fargo - but they charge 28% interest or so.

But they'll definetely lend to him.

broken_legs
05-24-2006, 10:41 AM
citi financial, same rape on interest

90s_tuner
05-24-2006, 11:08 PM
Originally posted by TrevorK
Wells Fargo - but they charge 28% interest or so.

But they'll definetely lend to him.

Where is Wells Fargo? I'll tell him to go there.

TrevorK
05-25-2006, 08:32 AM
Originally posted by 90s_tuner


Where is Wells Fargo? I'll tell him to go there.

In the worst parts of town :rofl:

Here's a couple:
Wells Fargo Financial - 4315 Macleod Trail Sw - (403) 243-2703
Wells Fargo Financial - 222-855 42 Avenue SE - (403) 214-4380
Wells Fargo Financial - 114-1725 32 Avenue NE - (403) 250-9009

aram1000
05-25-2006, 08:46 AM
try citifinancial, they will lend to anyone but the interest is high, has he tried scotia bank or bank or montreal, is he a student? because if he is, could look into getting a student line of credit

90s_tuner
05-25-2006, 08:55 AM
Yea I'll tell him to go to Citi first since its right by the Futureshop by my place :D

Then he can try Wells Fargo. haha

As long as the interest is less than like 20% he'll take it. He doesn't have bad credit so I think he should be alright there.

James
05-25-2006, 12:03 PM
Wells fargo usually charges in the high teens to low thirties for interest...its disgusting....when i was young and stupid i went through Trans Canada Credit( i think wells fargo bought them out)....I didnt make much money, with a cosigner that had no problem giving me a loan.

broken_legs
05-25-2006, 12:54 PM
i thought charging more than 28% was illegal??

FiveFreshFish
05-25-2006, 07:11 PM
Originally posted by broken_legs
i thought charging more than 28% was illegal??

Nope. If you charge 60% or more, it's illegal.

Xtrema
05-25-2006, 07:43 PM
Originally posted by FiveFreshFish


Nope. If you charge 60% or more, it's illegal.

Charge your friend 60% then :D

Supa Dexta
05-26-2006, 04:30 PM
Originally posted by cocoabrova
What does he have for collateral:dunno:

a busted up bike...

:rofl:

sabad66
05-26-2006, 04:33 PM
Was the bike ruined after he dropped it?

88CRXGUY
05-26-2006, 04:49 PM
I think that he should just suck it up and try to pay for it without a loan. In the end he is going to be paying more anways, he should think about getting a second job over the summer...

Also too since taht he is going to be applying for all these loans and stuff its going to be showing up on his history. Which means the banks are going to see that, its kind fo like red flagging, it shows that he needs the money. When its red flagged he's more of a risk and the bank isn't going to give it to him. But if he wants to pay 28 plus percent interest, then he is just raping himself twice, once with the bike and now the interest...

futurecivic
05-26-2006, 09:07 PM
the only reason why cibc wont do it is because they had a bunch of unsecrued loans that people had a didnt pay so they took a hit on all of those and now they will only do loans that are secure i just had that problem with them i wanted to add money to my existing loan and they said no due to the fact that it wasnt secure

but deffinetly try citi of wells fargo

90s_tuner
05-28-2006, 10:58 AM
The bike is still drivable but its scratched up pretty bad. It was a big bail. I can't just take the bike back now because I couldn't sell it for more than 1800 looking like it is now (that's how bad it is).

Anyways, I told him to go to Citi financial on Monday so we'll see how that goes.


Originally posted by 88CRXGUY
I think that he should just suck it up and try to pay for it without a loan. In the end he is going to be paying more anways, he should think about getting a second job over the summer...


That wouldn't work. I can't wait for him any longer. This is the 2nd month now. Like I said earlier, I do enough favours. I have stuff to pay for myself.

88CRXGUY
05-28-2006, 11:00 AM
Well yeah then getting a loan would be the best thing for the position you've been put in at this present moment. I hope that everything works out for you tomorrow when you go to the bank...

nusneak
05-28-2006, 11:12 AM
afaik credit cars can get a cash advance on any avail funds.

might be different on his though since hes young? :dunno: