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Bridal Loans

Okay, my friends, my husband and I have come to a point at which we think we may need to take out a loan to pay for some of the reception. We encountered a website called Bridal Loans and I was just looking for some advice from all of you on what you thought.

Posted On: Nov 7, 2009 at 1:50 PM | Vendors are allowed to participate

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BigBride

Wedding: 10/30/2010

44 Comments | Login or Signup to post a comment!

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 1:54 PM \| Flag As Inappropriate
I don't think a wedding is worth starting out married life in debt. You will want to be saving for a home right now, dealing with student loans or whatever.......I think a wedding is important but to me it wouldn't be worth debt....but as an adult you have to weigh that decision for yourself

MEG

Wedding: 06/12/2010

Posted On: Nov 07, 2009 at 1:55 PM \| Flag As Inappropriate
I don't know anything about Bridal Loan. Are you sure you want to start our your marriage in debt? I would recommend finding ways to lower your budget or save money before you wedding. You have almost a year to save.

lynda l.

Married: 09/06/2008

Posted On: Nov 07, 2009 at 2:04 PM \| Flag As Inappropriate
listen to Laura K. she is smart.

reddiva22

Wedding: [Private]

Posted On: Nov 07, 2009 at 2:10 PM \| Flag As Inappropriate
I don't think that it is a good idea to start your married life in debt... I think you should try to cut where you can, but try to save $$, I agree with MEG, you have a yr to save. Good luck!

loveat1stsite

Wedding: 10/02/2010

Posted On: Nov 07, 2009 at 3:01 PM \| Flag As Inappropriate
It's one day!! Mind you, It's a VERY important day and one you will remember the rest of your life but I wouldn't jump into a loan for it. I agree with the previous input, you don't want to start your married life in debt, however, if you don't have other debt, then it may be that important to you! I would weigh your options heavily and if you do proceed with the loan, please be careful reading the fine print and any extra fees, interest rate fluctuation, etc. Good luck with whatever you decide!

happybride1022

Wedding: 05/01/2010

Posted On: Nov 07, 2009 at 3:07 PM \| Flag As Inappropriate
I understand your concern. If you decide to go this route, besure to check out the interest rate and and reviews of this outfit. I might be better for you to review your options with your own bank. They may give you a better interest rate. We have set a strick budget based on our current income. However, my job is in flux right now and with the Michigan economy at 15%, it is VERY possible I will be totally out of work soon. What we decided is to set a deadline of 3 months before the wedding. If my job is ok, then we proceed. If not, we go to plan B. Forfiet the deposits and go to a simple ceremony, family only and no recepetion and honeymoon. Maybe a big party after we recover finacially on a future anniversaery date. We picked 3 months because that is when the invitations go out.

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 5:58 PM \| Flag As Inappropriate
We are going to be getting a loan from where ever we can find one. There just isn't a way around it for us. I only work part-time and his checks aren't enough to cover what we need. Yes, we know that it sucks that we will already be in debt but we see it as we are only going to get married once and we want it to be the way we envision it. Living in Michigan has given us no other choice because I was trying to find a second job and that just isn't happening..So onward forth with the loan process.

arlala555

Wedding: 05/15/2010

Posted On: Nov 07, 2009 at 6:11 PM \| Flag As Inappropriate
Try Citi-financial if you guys must get loans. Their percent is kinda high because it's an unsecured loan but, it might be the only option. I had to use them before for consolidating my debt a few years back. It's fast to get approved too if your approved.

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 6:36 PM \| Flag As Inappropriate
http://weddingpaymentplan.com/brides_grooms_family.html That is a wedding loan site that I just found. They offer lower rates and sound pretty legit. I may even look into them even further for our loan needs.

reddiva22

Wedding: [Private]

Posted On: Nov 07, 2009 at 6:37 PM \| Flag As Inappropriate
I would look into trying to save up for your wedding, even if you put back a few dollars a week you could probablly save enough money to have a beautiful wedding, good luck. It is up to you though if you decide to do the loan, I would maybe look at your bank too if you decide to go that route, good luck:)

Trina

Wedding: 09/10/2010

Posted On: Nov 07, 2009 at 6:54 PM \| Flag As Inappropriate
Honestly, I am a collector for Chase. And I wouldn't advise you to that. Theese credit companies are doing whatever it takes to get their money back. And a wedding isn't worth it. Remember a application for creit or a loan is a legal binding contract. are you going to be able to pay it back? that is something that you have to know. You will be giving yourselves another bill. Please don't do it.

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 6:57 PM \| Flag As Inappropriate
The way I see it is that taking out a loan is a lot better than racking up debt on a credit card...As long as you can get a lower rate on the loan then on a credit card.

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:01 PM \| Flag As Inappropriate
I don't agree with much credit card debt either.....why not put the money aside into a savings that you would be putting towards a loan payment and when the savings account gets up to the loan amount THEN get married?.....that's how I do things....but I know I am down right un-American with how I don't like to live beyond my means and go into debt putting things on credit...I'd rather save a couple dollars a week for YEARS than pay interest on scary debt...I've never even financed a car, I save until I can afford it outright. That's how I put myself through college, etc...3-4 jobs at a time when need be....there's a reason the country is falling apart with people who can't afford all the debt they've built up...it's sad

Trina

Wedding: 09/10/2010

Posted On: Nov 07, 2009 at 7:06 PM \| Flag As Inappropriate
I was just giving my opion. honestly it's up to her what she decides to do. It doesn't matter if it's a credit card or a loan. You still have to pay it back. And make sure that you are going to be able to handle the monthly payments. *If you have to get a loan to have a wedding, to me that means that you can't afford the kind of wedding your having* I would try to save up money and try and cut the cost as much as I can. The economy is bad and it isnt getting any better.

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 7:12 PM \| Flag As Inappropriate
Some people don't have the means to have any kind of wedding and that is why they have to take out loans and all that great stuff. Just because we can't afford it doesn't mean that we don't deserve it. Sorry if I sound offended but my whole life I haven't been able to afford crap and for once on my day I deserve to get what I want. We can afford the payments on the loan we just can't afford that kind of money right off the bat like it is required. I don't know about the person who posted this and what her financial situation is I just know what ours is and for us that is the best option.

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:15 PM \| Flag As Inappropriate
but what doesn't make sense JJ is that if you can afford loan payments you can afford to put that money into a savings account until you do have enough to pay for what you want, right? I'm not trying to offend you or upset you in anyway...I just don't understand the point you're making and I'm asking for clarification....seems to me that if someone is scraping by why would they want to pay interest on a loan which will end up costing you MORE than if you just put that same money into savings? what is wrong in that logic?

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:16 PM \| Flag As Inappropriate
actually in an ING account you'd be MAKING 4% interest on the money instead of paying 19% interest for the loan....no one said you don't DESERVE it....hell I wish I could have afforded all the things I DESERVE LOL

reddiva22

Wedding: [Private]

Posted On: Nov 07, 2009 at 7:16 PM \| Flag As Inappropriate
Or even if you are ready to get married why not to a simple JOP ceremony and then have a renewal of your vows/reception for your 1yr? That maybe a better route. That way you can still save $$ but enjoy being married. Just my opinion, but again its up to you.

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 7:19 PM \| Flag As Inappropriate
I know you aren't trying to be offensive, it's just a really touchy subject right now for me. We can't afford to save enough money for the venue in enough time for our date. We are only taking out half of what it costs so that moeny wise we do half in cash and half in loan. We have figured it all out and we can afford to pay off the loan in about 2 1/2 years at a very low monthly payment. We are paying off our credit cards right now and will be cutting them up in about 3 months (i'm very excited for that :-) ) and then the money that goes for those payments will also be going toward our wedding fund. I don't really want to post what our budget and everything is but I would be willing to PM you for a better run down if this post doesn't clear it up.

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:23 PM \| Flag As Inappropriate
oh good lord no JJ you don't need to send me your personal budget info! LOL this is YOUR personal business of course! However it works for you two as a couple is up to you. My point is just that PERSONALLY I would rather put the wedding off those 2 1/2 years until I have it saved up (actually since there's no interest it'd probably be under 2 years) than get into more debt. But that's just me, like I said I'm very uncomfortable with debt and I don't understand the American obsession with it. I'm sorry it's such a touchy subject for you. I've struggled for ever penny since I was 15 so I get why it's hard. That's why I guess I am different with my money than most people and I don't buy things I can't afford

Trina

Wedding: 09/10/2010

Posted On: Nov 07, 2009 at 7:24 PM \| Flag As Inappropriate
Laura your so right. I have an ING account for my son. And the intrest is great :) ***JJ, I understand where you are comming from I didn't have much growing up. And I worked very hard to get where I am at. I have two jobs, I am a bill collector for Chase part time and I am a Medical Office Admin. It is hard. And I feel like you should have to wedding that you want. But a loan is scary. I mean you get a loan for school not a wedding. You I have a saying, "If I have to ask how much it is or can't pay cash for it I don't need it" JJ your right not everyone can afford a huge blowout but I wouldn't go in debt for a wedding. You don't know if you finances will chace before your done paying it back. God forbid what happens if you can't pay. They are going to charge you the highest intrest rate. Really think about it before you do

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:25 PM \| Flag As Inappropriate
Trina that's an excellent point about why loans are scary, what if you lose your jobs or get injured and can't work? I can't stand having things over my head like that! the ONLY debt I have is student loans and I hate even that! LOL

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 7:27 PM \| Flag As Inappropriate
I'm right there with you on the struggling part Laura. I haven't grown up in the greatest environment and it has definitely not been a good journey. But that is why I am allowing myself this. We thought about pushing the date back but we have already done that twice now and don't want to do it again. In the end we know it will work out for the best. But I am interested in the ING thing that you mentioned earlier...What is it? Just an account I could get at the bank or something like that?.?

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:31 PM \| Flag As Inappropriate
oh man I LOVE ING! LOL it's an account you open online and link up with your checking account. You do all your transactions online and transferring money is SOOO easy and they offer a higher interest payback than any other bank. When I had a regular paycheck I had an automatic savings plan set up where as soon as my paycheck went into my checking, a certain portion would go right into the ING savings. If the money isn't in your checking you don't spend it! I mean even if it's like $10 every paycheck, eventually that adds up! That's how I saved for everything for the wedding. It's so easy....go to INGdirect.com and it's free and easy to set up the account, there are no minimums or anything

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 7:34 PM \| Flag As Inappropriate
Wow, that sounds awesome...Thank you for that information!

reddiva22

Wedding: [Private]

Posted On: Nov 07, 2009 at 7:35 PM \| Flag As Inappropriate
wow that sounds awesome, when I am working again I will have to look into ING accounts. Dumb question but do you have to be a certian age or anything?

reddiva22

Wedding: [Private]

Posted On: Nov 07, 2009 at 7:35 PM \| Flag As Inappropriate
I mean I am over 18, I am just wondering.

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:35 PM \| Flag As Inappropriate
JJ I get your reasoning on treating yourself this one time...that's how my husband even talked me into spending as much on the wedding as we did, I've struggled HARD for so long....but when you think about debt are you really doing yourself a favor? I mean giving yourself debt and stress and loan payments and interest, making you put off saving for a house, adding stress to your new marriage, etc....are all of those things really "allowing" yourself this one special treat? Sounds more like a punishment to me! it's obviously your choice, just think about what you're really choosing with it

Trina

Wedding: 09/10/2010

Posted On: Nov 07, 2009 at 7:36 PM \| Flag As Inappropriate
ING...Love it. Yes everything is done online. I would reccomend you opening one. Like Laura said you can put as little as 10.00 each check. I know it sonds like a small amount but it adds up. JJ I sent you a PM read it and let me know

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:37 PM \| Flag As Inappropriate
I'm pretty sure if you have a checking account you can have an ING account...I've had the same checking account since I was 16 so I don't think there's an age minimum.....yes LOVE LOVE ING! We now have 2 accounts that we both put 10% of our income into. One is for long term savings that we never touch and the other one is our "fun fund" that we use for travel and stuff like that....no debt if I an help it

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 7:39 PM \| Flag As Inappropriate
Thank you Laura you have definitely given me some things to think about and talk to Josh about. I mean regardless I know that we will have to take out a loan but maybe by investing in the ING we can cut it in half or even more and that would be great! Thanks again :-).

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:44 PM \| Flag As Inappropriate
aw i'm happy if I could help in ANY way....the best education is the school of hard knocks and I sure as hell had that! LOL so I totally get it and would want to pass on anything I've learned the hard way. Thank you for talking about a subject that is touchy for you without getting defensive...that's how we learn new things! You have behaved mature and intelligent even though it's an emotional topic for you HUGS

Lacie R.

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 7:46 PM \| Flag As Inappropriate
OKay..cming from someone that has to "save up" also..there is a lot of crap taht happens to come up when you are trying to save...i was thinking the same thing..to get a loan..to get the bulk sum of what you need to pay the deposits on places..and then pay it back later..in SMALLER payments.. btw..we are gtting married on the same day!! yaay.. 9-10-11!! hehe

naynay79

Wedding: 01/16/2010

Posted On: Nov 07, 2009 at 7:47 PM \| Flag As Inappropriate
I just heard of that today. I thought about it for a few minutes. Then thought better of it because as much as We all want a lovely wedding. It's not worth it to go into debt over.

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 7:47 PM \| Flag As Inappropriate
Aww thank you Laura :-). When I was typing I kept reading it over and over thinking that it sounded mean so I was really worried about that. But as i've learned in life you have to ask the hard questions and deal with the answers if you ever want to grow up and learn something new and worthwhile. HUGS Back

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:49 PM \| Flag As Inappropriate
that's the exact point Lacie..if something comes up and you miss putting something into savings that month it's ok but if something interrupts your loan payment your interest rates skyrocket and then it snowballs and you are screwed! I've seen it happen to 2 friends. They got debt they could handle in their present situation but sudden things happened and they went under....one has declared bankruptcy and the other is barely scraping by years later and can't even have a checking account because they take her money as soon as she deposits a check..it's not worth the risk, especially these days when anyone can lose their job..there's not risk in savings

Lacie R.

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 7:52 PM \| Flag As Inappropriate
yeah we werent going to have an outrageous amount for the loan..i mean we are saving up right now..but sometimes those deposits and stuff just kinda hit u out of nowhere!

J.J

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 7:55 PM \| Flag As Inappropriate
I am right there with ya Lacie..those darn deposits are a nice swift kick in the rear.

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 7:57 PM \| Flag As Inappropriate
my one friend who can't even have a checking account now started out with a loan that was only $3,000 and she was a top manager with AT&T and had a good savings account...sh*t happens and it's a slippery slope when it starts going wrong...all I'm saying is BE CAREFUL! This is the reason everyone in the country is in so much trouble, be careful!

Lacie R.

Wedding: 09/10/2011

Posted On: Nov 07, 2009 at 8:01 PM \| Flag As Inappropriate
yeah...we are trying to avoid that also..but im about to be a nurse and he is in the military..both jobs are pretty concrete..but u never know!

Laura K.

Married: 05/15/2009
Reviews: 7

Posted On: Nov 07, 2009 at 8:04 PM \| Flag As Inappropriate
she didn't even lose her job, just other bad luck all at once: car, health, etc....you're right...you never know what will happen....most people in the country are just one paycheck away from disaster...I don't know, it's not for me....but I really really really need security so I'll go without until I have a cushion for if I fall

DreamComeTrue

Wedding: 06/25/2011

Posted On: Nov 07, 2009 at 8:16 PM \| Flag As Inappropriate
I agree with happybride. If you and your FH decide this is the best decision for the two of you (and ultimately this is the most important opinion of all) than definitely check your bank. I'm not sure if you are a part of a credit union, but in my experience they give you great rates! Also, it's usually very easy to get a personal loan if you have your payroll check directly deposited into your bank account. Good luck :)

BigBride

Wedding: 10/30/2010

Posted On: Nov 07, 2009 at 9:06 PM \| Flag As Inappropriate
Thank you all for your input. My husband and I were just considering it. There is still a small chance that we will take out a loan somewhere to help pay for some of it, but it's still up in the air at the moment. So here's a little more 411 on out situation. My husband and I are already married, as I think I may have mentioned to some of you before. When we got married previously on May 15, all we got was a quick little courthouse wedding to get all of the formalities out of the way and because we really wanted to get married and couldn't afford to have a big wedding. Just recently we decided to start planning our big beautiful wedding for next October. My parents, and probably my grandparents, will be helping pay for some of the wedding, but the larger deposits, such as the reception venue reservation, will be cutting it close. We were looking into loans, but it is something we will have to discuss with my parents, and others who are helping pay for the wedding.

reddiva22

Wedding: [Private]