So biz, i have a small question, i have a small emergency and i am thinking of getting a 1000 dollars loan...

So biz, i have a small question, i have a small emergency and i am thinking of getting a 1000 dollars loan, i have never done this before so i want to know how risky it is and what could go wrong

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What kind of emergency?

nothing goes wrong desu youtube.com/watch?v=oD2gXY4piF4

My computer is fucked, also wtf is a "Trustee (promissory note)"? I am a 22 yo zoomer so idk any of these terms

>My computer is fucked

Go buy a $200 laptop until you're not poor

I am a freelancer, i can't do the shit i do for a living on a 200 dollar shitbox

You obviously don't make a lot of money with this job anyway, so what difference does it make

Do not

Alright, but right now i need advice on the loan thing, is it risky? Its a bank loan, i could beg my dad for the money but he is far away and a pain in the ass to reach

Why?

nothing really risky. just make payments $10/month or whatever to repay it. In the future keep 3-4months worth of expenses in your bank account

Debt collector here.
Usually what fucks people over is the interest. Make sure the loan you're getting is not some retarded 60% APR shit. Also get your loan at a credit union, not a bank, banks are for-profit companies, which means all they care about is fucking you in the ass . Also make sure your monthly payments reasonable considering your income (ie you won't starve trying to make payments). Also check the grace period on the due date on the loan, some financial institutions offer like a 10 day period to make your payment after the due date, which I imagine is helpful if you get into a bind.

Basically don't get a loan you can't pay, I fucking hate having to track down mouth breathing retards that get some crazy 30,000 dollar loan and then get pissed when they can't make their $1000 a month payment and i come over their house to repo their shit

You won't pay the loan back, because while you're paying it back, you'll just take on new debt. I know you don't plan on getting more debt, but life has other plans at times. And unless you have a job lined up where you need this computer, you actually don't need that computer. You just want it.

who the fuck would give you 1k loan

Welp, i am on the bank website and it says that i have to pay 44 dollars per month on the 1000 loan i want, how good does it sound? Another question, lets say i have a very good month, i can go and pay lets say 300 bucks and make the debt smaller, right?

Too low?

unless you are from India no bank is gonna give you 1k loan, they will just give you a credit card

Well my bank does and i am not from india

worst would be those milkers flat tire in a car accident

What's the APR? How long will you pay $44 a month for?
And sure you can pay extra, but check first with your financial institution if they will charge you more for terminating the loan before the maturity date (some do)

For 60 months

Man after 60 months you'll have payed $2,640.00, you will be paying 1.5 times the loan just in interest.
Contact your local credit union, those guys offer lower apr rates than banks

Most entry level credit cards max out at $1.5k this is not worth getting a loan over

Ok but if i paid the loan in less than a year? I have an emergency right now but i can make bigger payments next year

Whats worse a loan or a credit card loan?

A loan, my credit card didn’t make me pay interest untill a full year so my balance never increased over time and the apr was 2.5%
Get a credit card even if you don’t think you need it for small emergencies. Unless you’re a compulsive spender it’s the best tool to get you out of a small rut without accumulating debt fast.

Lol ranjeesh

Nope, another minority tho, i am sure you can guess

Just as long as you do that you'll be fine, but ask your bank if they have an early termination fee first.

Ok got it, some guy from the bank is going to contact me in the next 3 days to answer my questions and proceed with the loan if i feel ready, thank you for your time m8