Getting a personal loan with a collection on my credit report

[Anonymous]

Hello,

I'm looking for a personal loan but I have an open collection that is about 6 years old on my transunion credit report.  My credit scores aren't really too bad.  Equifax and Experian are 777 and 761 respectively.  Neither of those have that collection on their reports however.  Even my transunion number is 674, which isn't horrible I suppose.  The collection is from an unpaid medical bill.  I know even if the bill is paid that the collection still stays on my report.

I've recently run in to a situation where I'd like to get a personal loan for $10,000.  I just applied for a Discover personal loan and was rejected because of that collection.

My question is:  Do you think that there is any chance that I would be approved for a loan even with a collection on  my transunion report?  I ask because I don't want to keep having institutions make hard inquiries if there is a slim to nill chance my application will be approved.

* Extra info,  I claim $40,000/ year in income and have no other debt.  Not college loans, morgage, or credit card.

Any advice would be much appreciated.  Thank You!

[Anonymous]

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@Anonymous wrote:

Hello,

I'm looking for a personal loan but I have an open collection that is about 6 years old on my transunion credit report.  My credit scores aren't really too bad.  Equifax and Experian are 777 and 761 respectively.  Neither of those have that collection on their reports however.  Even my transunion number is 674, which isn't horrible I suppose.  The collection is from an unpaid medical bill.  I know even if the bill is paid that the collection still stays on my report.

I've recently run in to a situation where I'd like to get a personal loan for $10,000.  I just applied for a Discover personal loan and was rejected because of that collection.

My question is:  Do you think that there is any chance that I would be approved for a loan even with a collection on  my transunion report?  I ask because I don't want to keep having institutions make hard inquiries if there is a slim to nill chance my application will be approved.

* Extra info,  I claim $40,000/ year in income and have no other debt.  Not college loans, morgage, or credit card.

Any advice would be much appreciated.  Thank You!

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SOFI SP pulls Experian only for the preapproval and then HP's Experian once you accept the offer.

[Anonymous]

Have you tried disputing it with TransUnion to get it removed?  I do that with something on mine as the other two were not reporting it.  They removed it and my score went up because of it.

[Anonymous]

I have an embarassing amount of medical bills in collections and I was approved for a (small) personal loan by a local credit union. I could have gotten more if I had a cosigner or some sort of collateral. Try a credit union if all else fails. They were the only ones willing to give me a chance at the time.