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Member
Posts: 8
Registered: ‎09-14-2009
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Need Advice---Hitting a brick wall.. FICO score--630 and

Help!

I am one foot from the edge of a bridge :smileysad:... Here is my story:

I have a 630 FICO score -- 680 transunion..

I have been solid with my payments on my credit cards for the last couple years (i think i have 1 late from last year)..  

I have like 3-4 serious deliquencies from 2004 (over 120 days)

 

I was recently seperated.. I have credit card debt around 27k.. I do not own a home (I live in NYC)..

My credit cards (due to a couple of days late) are roughlly around 29% interest.. I am getting screwed!

 

I am trying to get a loan (tried with citibank signature loan) dont get me started, the guy was a nimwit, and got denied with both myself and then with my step dad as a co-signer (you kidding me? He has perfect credit)..

 

I dont want to go to a debt consolidation prorgram.. I made $135k last year (but different times completely).. so i have the W-2 for last year (WONT MAKE THAT THIS YEAR).

 

Will any banks, Credit Unions, etc loan to me with this situation?

HELP!!!

 

the email address listed on here is old.. Please help, i am at my own wits end..

 

Lisa:smileysad: 

Frequent Contributor
Posts: 284
Registered: ‎05-11-2009
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Re: Need Advice---Hitting a brick wall.. FICO score--630 and

Lisa,

 

I am sorry to hear about your circumstances. I would definately say that you should apply for debt consolidation (signature/unsecured) loan to pay off the balances. I work for a CU in NYC as well and there is a lot of people who I have worked with in similar situation due to either divorce or death in the family etc. and CU's seem to manually review and weigh pros and cons for the loan (employement histrory, income, assets) etc you know? I would definately recommend getting in touch with your CU and see if you can apply for a loan.

 

Best of luck.

Aim to be fiscally and physically fit...
EQ - 723 FICO as of Aug 2010
TU - 757 FICO as of Sept 2010
EX - 742 FICO as of Oct 2010 (PSECU)
Member
Posts: 8
Registered: ‎09-14-2009
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Re: Need Advice---Hitting a brick wall.. FICO score--630 and

Can i apply at your Credit Union? Maybe i will have better luck???

 

Lsia:smileyindifferent:

Regular Contributor
Posts: 140
Registered: ‎12-29-2008
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Re: Need Advice---Hitting a brick wall.. FICO score--630 and

if you can't get an unsecured loan, it will be time to make some dramatic life changes to save yourself some serious stress/heartache in the future. 

 

move to the bronx, stop buying unnecessary items for the next 12-24 months, make the trip out to the secaucus walmart for your essential basic necessities, make sandwhiches for luch four times out of the week, and hold yourself accountable. you'll pay off that balance in no time on an income of 50-100K a year. some people learn to live within their means early in life, others have to learn the hard way when we're neck-deep in debt. the question now is not so much where you can qualify for a loan, but whether you can make the commitment to pay off this debt now by giving up material comforts and realizing the next 12 months will be painful but you will be a lot happier when you're debt free a year or two from now.

 

good luck 

Frequent Contributor
Posts: 318
Registered: ‎09-25-2008
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Re: Need Advice---Hitting a brick wall.. FICO score--630 and


emartin82 wrote:

if you can't get an unsecured loan, it will be time to make some dramatic life changes to save yourself some serious stress/heartache in the future. 

 

move to the bronx, stop buying unnecessary items for the next 12-24 months, make the trip out to the secaucus walmart for your essential basic necessities, make sandwhiches for luch four times out of the week, and hold yourself accountable. you'll pay off that balance in no time on an income of 50-100K a year. some people learn to live within their means early in life, others have to learn the hard way when we're neck-deep in debt. the question now is not so much where you can qualify for a loan, but whether you can make the commitment to pay off this debt now by giving up material comforts and realizing the next 12 months will be painful but you will be a lot happier when you're debt free a year or two from now.

 

good luck 


Maybe not so painful if you consider there's people that live and are happily (broke too) living making only 40-50k per year. LOL

TransUnion/Equifax
746/754
Date: 9/24/2009/10/02/2009
Frequent Contributor
Posts: 284
Registered: ‎05-11-2009
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Re: Need Advice---Hitting a brick wall.. FICO score--630 and

Lisa,

 

Ofcourse you could apply to my CU bit I think there is something in rules about solicitations or something. Maybe someone can enlighten this. But I hear you. We approved someone for a consolidation loan with a fico of 620 with a cosigner - so I dunno if you are able to get a cosigner? That might help with a debt consolidation loan and also having once centralized payment at a lower int rate than a credit card helps.

Aim to be fiscally and physically fit...
EQ - 723 FICO as of Aug 2010
TU - 757 FICO as of Sept 2010
EX - 742 FICO as of Oct 2010 (PSECU)
Member
Posts: 8
Registered: ‎09-14-2009
0

Re: Need Advice---Hitting a brick wall.. FICO score--630 and

[ Edited ]

I can get a co-signer..He has phenominal credit btw.. Its my dad..

 

What is your credit union? Can we speak off line?

 

I can give you my personal email address and then we can coordinate that way: Edited

 

THanks!!!!!!!

 

Lisa 

 

 

Lisa, posting of personal info, like your e-mail, is a no-no on this forum. However, feel free to share info privately as a PM. Click on the envelope-looking thingy on the upper right hand corner of this screen if you'd like to PM. - llecs, myFICO mod.

Message Edited by llecs on 09-15-2009 05:15 PM
Frequent Contributor
Posts: 284
Registered: ‎05-11-2009
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Re: Need Advice---Hitting a brick wall.. FICO score--630 and

Lisa,

 

I did send you a private message, take a look in your inbox and let me know.

 

Thanks

Aim to be fiscally and physically fit...
EQ - 723 FICO as of Aug 2010
TU - 757 FICO as of Sept 2010
EX - 742 FICO as of Oct 2010 (PSECU)
Super Contributor
Posts: 5,744
Registered: ‎01-28-2008
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Re: Need Advice---Hitting a brick wall.. FICO score--630 and

Lisa-

 

I hope myficoaddict can help you.  I love NYC!!

Frequent Contributor
Posts: 284
Registered: ‎05-11-2009
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Re: Need Advice---Hitting a brick wall.. FICO score--630 and

DI,

 

I think we might be able to do it. I have worked with a few people who had a co signer and we have been able to do a debt consolidation for. So lets see. I emailed her and am awaiting her response which will give me some ammo to get in touch with a lending underwriter and better gauge how to tackle this situation.

 

We had a 19 yr old apply for a debt consolidation loan with us with 23k debt, his mum co signed, his fico was 617 and his moms was 680-ish and combined income of about 80k or so and we approved him. He decline, haha - we required we pay the cards and he close them and he was not okay with that - lol.. anyway, lets see what we can do for Lisa.

Aim to be fiscally and physically fit...
EQ - 723 FICO as of Aug 2010
TU - 757 FICO as of Sept 2010
EX - 742 FICO as of Oct 2010 (PSECU)

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