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Question for the pros (or anyone that knows the answer lol)

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  1. dekarr69 dekarr69 is offline

    Ottawa
    Canada

    Posts: 145
    Joined: Nov 07

    Dec 1st, 2008 (12/1/2008 11:56am)

    I was just curious is it possible for poker players to get loans from the bank etc... if so how would they go about doing it would they just go under self employed? but then how do you prove youre income etc etc.... just curious if anyone has ever went for a loan and got it ... thanks in advance
  2. Smokin Zags Smokin Zags is offline 2010 CA Amateur Golf Champion

    Lake Forest, CA
    United States

    Posts: 1,941
    Joined: Oct 07

    Dec 1st, 2008 (12/1/2008 11:57am) in reply to dekarr69

    I'm sorry but,

    El Oh El
     
  3. lordxixor101 lordxixor101 is offline

    Westland, MI
    United States

    Posts: 6,364
    Joined: Mar 06

    Dec 1st, 2008 (12/1/2008 12:05pm) in reply to dekarr69

    Not a pro, but I might be able to help (a little, before better answers arrive).

    You'll be treated like your self employed, but it's almost worse. You'll have a near impossible time proving your income (since most banks will want some corroborating evidence that you can't tamper, and the casino won't be able to vouche for your income over a set amount of time).

    So, your going to need to build up a strong credit history. To do this, you'll probably need to put up collateral (so have a CD at a bank for $20k when you go to get a car loan for 20k). This will cost you money (since the cd will make less than the loan), but you'll build a history.

    Other than that, when you buy a house, fully expect to show you have money in the bank (not on sites), and you'll have to put down a strong down payment (probably in the 20% realm.

    But, this is once banking gets back to normal. Right now, people with good credit/jobs struggle for loans, you won't be getting one.
  4. luckyleewon1 luckyleewon1 is offline

    Wheeling, IL
    United States

    Posts: 555
    Joined: Aug 06

    Dec 1st, 2008 (12/1/2008 12:19pm) in reply to lordxixor101

    GA
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