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Best place for a personal loan?

Posted on 9/16/14 at 2:15 pm
Posted by Delacroix
Member since Oct 2008
3992 posts
Posted on 9/16/14 at 2:15 pm
Long story short: I am going through an insurance claim right now and the contractor needs his money before I will be able to receive my money from my mortgage company. I will be able to pay back the personal loan within a month after I receive the check.

I need about 5k and I have good credit.

TIA
Posted by Mr.Perfect
Louisiana
Member since Mar 2013
17444 posts
Posted on 9/16/14 at 2:18 pm to
quote:

insurance claim 


quote:

contractor needs his money 


quote:

receive my money from my mortgage company. 


I am REALLY confused
Posted by Will Cover
St. Louis, MO
Member since Mar 2007
38692 posts
Posted on 9/16/14 at 2:27 pm to
quote:

Best place for a personal loan?


Several months ago, LA Capitol FCU, was offering 5.89 % personal, unsecured loans.

Looks like rates have ticked up.

Check out Pelican State Credit Union. Currently offering 6.99 % personal, unsecured loans.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
37308 posts
Posted on 9/16/14 at 2:42 pm to
Have you spoken with your mortgage company about this and explained to them that you don't have the money to front the payments to the contractor? It is in everyone's best interest (both you and the mortgage company) for the repairs to be made.

In my couple of experiences with this, I have been able to get the mortgage company to release the money 2-3 times while construction is going on, and the contractor was able to wait for final payment until the inspection was made.
Posted by VABuckeye
Naples, FL
Member since Dec 2007
35703 posts
Posted on 9/16/14 at 2:59 pm to
The contractor should take a deposit. The initial deposit should only be 20-30% or so. If the contractor wants a huge deposit find another contractor. He is robbing Peter to pay Paul and eventually will be walking away from jobs without completing them.
Posted by foshizzle
Washington DC metro
Member since Mar 2008
40599 posts
Posted on 9/16/14 at 7:20 pm to
This is what a line of credit is for.
Posted by Ice Cream Sammich
Baton Rouge
Member since Apr 2010
10117 posts
Posted on 9/17/14 at 9:31 am to
I got one from Pelican a year ago. Easy and best rates that I could find from a brick and mortar.
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