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Need a $12,000 Loan

Can You Help me Find a $12,000 Loan?

I need a short-term loan of $12,000 to settle a debt. I can secure that loan with my home or autos. Can you help me find a loan?

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Bill's Answer
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Need a $12,000 Loan
Highlights

  • Personal Loans for $12,000 are available.
  • If you need a long-term secured loan and have equity, then look for a home equity mortgage.
  • If you don't qualify for a $12,000 loan look for other debt relief solutions.

Thank you for your question about needing a $12,000 loan to settle your debt. Yes, it is possible to find a short-term personal loan for $12,000., which you can use for a variety of purposes, including debt consolidation. In general, personal loans are offered between 3-5 years, but you can pay it off early. If you can’t afford those monthly payments, then you need to look for a different debt management solution.

Get A Personal Loan Quote Now

Do you need a $12,000 loan? Bills.com makes it easy to shop for a personal loan. Start by filling in your credit score, zip code, loan purpose, and the amount of loan you need. Check out different offers and click on the appropriate ones.

A $12,000 Home Loan

You suggested the possibility of refinancing home to get a $12,000 debt consolidation loan. A cash-out or home equity mortgage can be an attractive option if you are looking for a long-term loan at a relatively low-interest rate, and low monthly payments.

In general, your total loan to value ratio (LTV) can’t exceed 80%. To compute your LTV add $12,000 to your current mortgage and divide the result by your current home value. For example, if you owe $150,000 and your home is worth $225,000, then your current LTV is 67%. With the new $12,000 your new LTV will be 72%,

The two main drawbacks to this option are the upfront fees and long-time to close a loan.

A $12,000 Auto Loan

You mentioned securing a loan with your vehicles. An auto refinance loan, otherwise known as a title loan, is allowed under law in many states. However, title loans are expensive. You are also going to need of equity to qualify for an auto refinance loan. Also, title loan lenders can be very aggressive in collecting these loans. Missing a payment means repossession of your vehicle.

Other Alternatives to a $12,000 Loan

If you are finding it hard to qualify for a $12,000 loan and you are suffering from financial problems, then there are other debt relief solutions. Some possible solutions include a credit counseling and debt management plan, debt settlement, and even bankruptcy. I suggest that you try Bills.com innovative tool, the Debt Navigator.

I hope this information helps you find. learn & save.

Best,

Bill

bills.com

Get Debt Help!
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10 Comments

Recent Best
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  • WG
    Nov, 2018
    Wendy

    I was able to get the $10,000 I needed for my son’s medications as well as food and a couple other basic necessities. My son would have suffered without the funds I received from this loan, so I am beyond grateful to have gotten approved for it so quickly. I was able to pay off the loan in a timely manner so as to avoid any late crippling late fees. While the interest rate was higher than I would have liked, it was still a tremendous help to me in a very desperate time in my life. 

    0 Votes

  • EP
    Aug, 2013
    elba
    Essex, CT
    Interesting content, finance for starting small business is very important, I find this share very crucial because I like run my enterprise soon and I'm sure it will obviously be complicated.
    0 Votes

  • DR
    Feb, 2012
    dan
    Olathe, KS
    i owe a friend 12000 for a loan he gave me and he needs the money bad my credit is not good and i am starting a new job this month what is my best option if any?
    0 Votes

    • BA
      Feb, 2012
      Bill
      Our article above contains five suggestions and a link to a government Web page that has even more. Do any of the suggestions we mentioned seem possible for you in your situation?
      0 Votes

  • CD
    May, 2011
    Carol
    Jeffersonville, IN
    My husband is trying to get a short term small loan of $1000. Can we use both our incomes but just his credit? Mine is not very good and we really need this right now.
    0 Votes

    • BA
      May, 2011
      Bill
      The answer to your question depends on the policies of the lender. In general, the answer to your question is yes.
      0 Votes

  • BA
    Jul, 2010
    Bill
    You must disclose your marital status in the loan application. However there is no investigation as such.
    0 Votes

    • DB
      Dec, 2010
      Derek
      North Pekin, IL
      When was this article written? Are P2P loans still a reality today because signature loans sure are not!
      0 Votes

    • BB
      Dec, 2010
      Bill
      San Mateo, CA
      Signature loans are still available, but may be called different things. Wells Fargo, for example, offers what it calls a personal line of credit.
      0 Votes

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