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jbachman

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Can I get approved for 2 separate loans by 2 lenders in the same week?
I would like to get a personal loan to pay off some medical debt in collections, and also to consolidate credit card debt to eventually improve my credit score. I also need a new car soon. I have finally brought my credit score up high enough to be approved for a loan, so I was hoping to knock out the 2 loans I am in need of at the same time. I know this will lower my credit score at some point, but what I want to know is if its possible for 2 separate lenders to approve me in the same week? I know if I get approved I will initially take a hit with 2 new lines of credit, but that personal loan will eliminate the debt in collections and i desperately need that if I ever want to eventually have a good credit score.

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If your credit is good enough and your "debt to income ratio" is good and can handle it. If you have collections on your reports then I wouldn't count on getting either loan.

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