personal loan

[MoOaNdLiTtLePoPpEt]

hi

just after some advice.

we are thinking of taking out a personal loan of $5000.

DP works casual, but he works 5 days a week and has done so for almost 4 years now.

What are our chances of getting a loan?

we are Maybe wanting to obtain it as we are maybe moving interstate and instead of maxing our credit cards we think this would be a better option.

DP is working casually at present and if we move interstate he will be working full time, and earning double his wage. I am a full time stay at home mum...we get some Govt assistance.

so yeh just wondering what our chances would be.

we have good credit rating, i have a personal loan in my name through the bank (we have some savings in his name...which we will be contributing towards the move...will pay for about half of it)...we have a good name with the bank and a good saving history as well.
thanks

[andie_pandie]

Hi there

Sorry it has taken a little while to get back to you, have had a sick child and playing mummy.

With regards to your DH being casual generally if they have been in a job for over a year then most banks will look at his wage like a permanent.

I suppose you will need to be careful as the funds are helping you to move, hence it would be good to know that DH does actually have a job so that you do not have added stress with additional debt.

The bank will assess both of your debt levels and make sure that you are able to service the new loan, and they will look at taking family allowance into account depending on their criteria.

If you do need assistance to check it out further let me know via PM.

Cheers Andrea