Refer to this question:

Which bank(s) allows a student living in India to apply for unsecured lines of credit upto $10000?

Should we permit such questions asking where to get a loan? More specifically, should we permit such a question where the poster is asking for specific service providers to be named/recommended? I would think not.

A couple of these types of questions have been closed in the past, but we don't have anything in the FAQ yet and I'd like to raise this kind of question to FAQ-level as off-topic.

UPDATE: The FAQ's "don't ask" section now has a point for:

  • Requests for specific service provider recommendations; e.g. asking where to get a loan, what broker to use, etc.

Feel free to comment/answer if you think the text above could be better worded.

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Agreed on principle, these don't make the internet better, and they're very hard to give an objective answer to. –  C. Ross Jan 24 '13 at 13:44
    
Some loan queries could be reasonable queries depending on circumstances, asking for opinions. But the current question is outwardly fishy, seems from the query. Questions of such intent, a big no. But genuine queries should not be caught up in this quagmire. –  DumbCoder Jan 24 '13 at 16:07
    
@DumbCoder Fishiness aside, the issue raised is primarily about permitting requests to recommend specific service providers ... I wouldn't have a problem with a question asking what kinds of places one could seek a loan, but should we be directing people to specific service providers, permit answers that do such? IMHO, if we do, then it's an invitation for spam from less-than-reputable businesses that would like to lend money (and often at criminal rates). We already get lots of spam on questions with the word "loan" in the title. –  Chris W. Rea Jan 24 '13 at 16:12
    
@ChrisW.Rea - I should have made my comment more clearer. If a poster says, I got this deal from such and such institution and asks if (s)he could get a better deal(or if it is unfair) from a different institution, if any other user had done so. Will this be flagged down too ? If yes, than I would say that is being harsh. People should be allowed to shop around and maybe ask people who might have done so. –  DumbCoder Jan 24 '13 at 17:38
    
@DumbCoder I see where you're coming from. Could you post that as an answer here so people can comment & up/down vote? –  Chris W. Rea Jan 24 '13 at 18:41
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Especially as I'm not sure I fully agree with @DumbCoder -- a full answer could provide more detail and context, especially if your position is more nuanced. –  Aarthi Jan 24 '13 at 19:54
    
This one i don't think we need to discuss ... just close and delete ... –  Dheer Jan 25 '13 at 7:09
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3 Answers

up vote 5 down vote accepted

Wouldn't such Q&A by definition be too localized soon after the interaction? Terms of loans change all the time, if we are voting, I'm a 'nay.'

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I am also a nay vote on the grounds that it is shopping advice. Picking a company to get a service from is shopping just as picking a stock is shopping.

How to evaluate is on topic. Which features to look for is on topic. Which company to choose is off.

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This is my opinion as well -- yes, a good consumer should shop around, and yes, the internet is a great way to lower the barrier to information. However, our purpose isn't to be the research team for your consumer choices. Asking for expert opinions on what to look for in a loan contract? A+ question, in my opinion -- we have lots of users who are qualified to answer that in a meaningful way. Asking if one could get a better deal elsewhere? Firmly off-topic in my opinion. –  Aarthi Jan 25 '13 at 16:14
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I'm with @JoeTaxpayer on this. Not only would it be too localized soon after the interaction because the terms may change; it would also be too localized (specifically, an extraordinarily narrow situation that is not generally applicable to the worldwide audience of the internet) immediately because (in this particular example) even if another person walked into the same branch office on the same day they may receive a different response because they are judged to be a different credit risk.

It's one thing to negotiate a $10K loan if you make $100K/year and have no other debt (though then you might get odd looks from people wondering why you would). It's quite another to get that same loan if you don't have a job that pays any income whatsoever.

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