Prosper uses it's own version of an Experian Fako score...
Earlier this year, they told me that my score was 650 or so, and that they had no products to offer me...
You might want to check with local auto repair shops. Often times they deal with good lenders. Not sure where you live but I live in Alabama where there is a local loan company, Acceptance Loan Co, and they offer, even secured loans, by word of mouth of what your secured goods are. I am speaking from experience. Had to get one a couple years ago for auto repair. Got $2000 in 30 mins, credit score they pulled said 605, they asked me about my household goods of value, I random told them things like computer, flat screen tvs, sound systems, etc. and I had several collections and derogs at the time. Many repair shops, especially transmission specialist use them regularly, even having apps at their shop. Good Luck!
My daughter was able to get a $750 Card from Firestone ( via GE Money Bank) she only has one Credit card and needed car work done. They may even have no interest deals for X months.
i was >1yr out from my chapter 7 when my car got stolen. i went to prosper.com to apply for a personal loan to buy another vehicle. they check experian and you need at least 600 to qualify. i had two rebuildier cc that were >1yr old. prosper uses ratings to determine what your interest rate will be. my rating was a D! i did get approved for 3000.00 loan and 36 months to pay it off. they report to EX and TU so it was a bonus to use that tradeline when i purchased my home. they ask for normal paerwork (id,ss card, paystubs, etc) and even do some identity verification info over the phone that only the borrower would know. i was grateful that i got this loan from prosper because i did not have the cash to go out and buy another vehicle nor did i want to go get some long term bad credit auto finance loan that i would have probably regretted.
prosper works by indivduals who put up some or all of your requested loan amount, thus making them your lender (s). they fund your loan. prosper just acts as the middleman who processes everything.
What was the apr they charged you if you don't mind telling us. Where did you shop around before you decided on prosper?
my apr that i was charged was 29.50%. i pretty much shopped around everywhere i could think of but no one would touch me, not even my banks ( had bank accounts with wells fargo & best bank & and a credit union account) i could have paid this off early with no prepayment penalties but decided to just pay minimum payments due to have it when i bought my house. i only have 1700.00 left and plan to pay this off with tax refund.
Just coming back with an update. CU's are awesome! So I applied at a local CU for membership and applied for a loan. Approved! I then realized that the amount I asked for was not going to be enough for the car repairs so I applied for another loan from the CU at my work. Approved! CU's definitely are willing to work with you even if you have had credit problems in the past unlike big banks.
Thanks everyone for the help, I really do appreciate it.
Well, I'm glad it worked for someone. I know someone looking for a personal loan. Their FICO scores are between 660 and 670 with the three CRAs (a recent app and a score pulled when applying for a car reported some of the scores over 710, but I'm sure that can't be FICO). Credit history is not that long. Had a account with a furniture store for about 2 years thay was paid off about 6 months ago. A credit card with about a 500 limit that will reach a year in age next month. A car loan of 12K originally that's only about 5 months old. Probably 8 inquiries in the last 12 months from applying at 2 other car lots, applying for a mortgage, and applying for another credit card. She also has a 3 year old 1K medical collection.
The last time she was denied for something it was based on limited length of credit history and the number of inquiries.
BTW how was the process with the repo? I know someone who was repoed. They paid the car off. They were made to wait 10 days before the car would be released. They were charged 80 a day during the process including during the 10 day waiting period. Seems like a rip-off to me.