I would stay away from any kind of vehicle and personal loans. Auto loans are usually for 5-7 years and personal loans are shorter. But with personal loans you will pay a higher interest rate. Start saving what you think would be a car payment now, collect interest on your savings and then buy a car with straight cash. A 20, 000 loan for auto should cost about 24, 000 after intesrt at 6%. So you really paid 24, 000 for your car. Try selling things you don’t use to get your car fund going, add what your blue book value for your current car and see how much more you need to save. Put aside a $1000 for a deductable and save even more on car insure with full coverage. I insured two vehicles w/ full coverage in KY for $700 because I set aside the deductable in savings. I would stay away from using collateral because if a bank won’t loan you they money you shouldn’t be borrowing it to begin with. Visit a personal finance plan site like dave ramsey.com and don’t go into debt in the first place so you have money to save for what you want. Yes if you have good credit you won’t need collateral. But writting a budget and saving for what you want will get much further then taking out loans will. Always conduct yourself with integrity and money will find it’s way to you.

All hard work brings a profit, but mere talk leads only to
poverty.

Proverbs 14:23, New International Version

Sorry I can’t give you a definite answer, but if the Alabama courts have found credit cards to be a form of a written contract, then article 2 of the UCC would be irrelevant. I’ve found anecdotal evidence to suggest this is the case, but nothing firm. I did find examples of other cases in other states where the courts ruling seemed contraindicative of the UCC, and was based partly on UCC limitations - meaning it looks like there definitely is a chance (depending on EXACTLY what was included in that signed piece of paper the collection agency produced) that your credit card account qualifies as a written contract.

If you’re unsure, you could try contacting another attorney from Legal Aid for a free second opinion, although I doubt your attorney would give such seriously erroneous information. I know that there legal fees are ginormous, but why not ask him to spell it out to you, show you previous cases where this ruling was upheld, etc.

leswickederwrestler84, Try finding other methods to get the cash first. Payday loan companies offer a great service, but it’s not something just anyone should get invovled with. If you do take a loan, pay it back quickly.

A personal loan is an un-secured/non-collateralized loan. Your approval is based soley on your credit history and abilty to repay, i.e. steady source of income (which they will want to verify).

In my state, with the Bank I work for, you apply, get approved and, as soon as the docs are generated (usually only a day or so), you sign and receive a check same day.

As far as your stipulation question, this is a personal loan and, as long as you’re approved, the Bank generally does not want or need to know the purpose.

Some banks do give small loans of about $2000-$3000 and it helps if you have an account (s) with the bank.

If your credit is good, the bank will consider giving you more money and for sure if you own your home and don’t owe major amounts of money to others, you’ll probably get the money.

leswickederwrestler84, Go to your bank and discuss a payday loan loan with them. In emergencies, sometimes the bank is more understanding than you might think they are.

Sometimes the Salvation Army will pull through as well,if you have one in your area.

Take time to look into your community for support, but some people don’t have all the options that come with an understanding community.

Credit card are defined as an Open Ended account..Your attorney is incorrect. Credit cards are established as Open Ended accounts under the Truth In Lending Act.

TITLE 15 > CHAPTER 41 > SUBCHAPTER I > Part A > § 1602
§ 1602. Definitions and rules of construction(i) The term “open end credit plan” means a plan under which the creditor reasonably contemplates repeated transactions, which prescribes the terms of such transactions, and which provides for a finance charge which may be computed from time to time on the outstanding unpaid balance. A credit plan which is an open end credit plan within the meaning of the preceding sentence is an open end credit plan even if credit information is verified from time to time.

This is a Federal Statute and as far as I am aware there is no state law or regulation that would override this. However, I also do not know specifically about Alabama Laws. You may want to consult a couple more attorneys to get their opinions. If the attorney for the creditor is good enough they may be able to make a case(right or wrong) that it is a written contract, and if you have an attorney going in that says it is a written contract you may not have much of a defense.

Apply for a personal loan at your bank. For the amount you are considering, you could get the loan with no collateral, as long as you have the ability to pay the loan payments.

I have a $20,000 line of credit at my bank. All I had to do was ask for it.

The norm with most credit card companies is at least a couple of days for the purchases to show up. They are all the same, they do not work like a debit card.

It honestly does depend on the merchant. If the merchant has a good processing contract, the stuff posts in real time. If they do not have a good contract, the stuff can take days to post.