Anyone have any experience with a signature loan?

[Texasgal]

I don't have enough equity in my house for an equity loan, how do signature loans work? Anyone have any experience with it?

[hippywife]

1. We just got one today at our credit union.

It's pretty simple. They just looked at total net income and total owed to creditors. Ran a quick credit report and copied both of our recent pay stubs and voila! Done! We are paying it back in 18 months at a very reasonable 7.5% interest.

Had to do this since the hospital wants their balance paid within 90 days even tho they got the biggest chunk already paid by the insurance company and wrote off a big wad for the insurance company. If I couldn't pay it in 90 days they had a loan program which charged 18% interest. The only bloodsuckers in that place aren't just in the lab! :eyes: