cancel
Showing results for 
Search instead for 
Did you mean: 

My Score Is 0 But I Am In Need Of A Loan ...

tag
19th
New Member

My Score Is 0 But I Am In Need Of A Loan ...

Hello,

I was laid off early 2013 & have now recently been hired with a different company. In between the time of me not being employed floods of bills starting coming in & was forced to put some bills to the side to avoid collection & court with others. One of these bills I put to the side was rent, only because my landlord was willing to work with me & my situation.

Soon after I received a letter from my landlord saying I owe 2,250 dollars ( this is including late fees ). Ever since then I have tried getting a loan. I have tried my bank, credit union, installment loans & even a loan through work...also tried family and nothing, no help. Credit union told me they denied me because I have a 0 score credit & a collection on my file also length of employment which has been now almost 4 months was another issue.

I've heard of one main financial but haven't tried. Wanted to come here first for some help on what I should do. I've been trying for weeks my eviction is the end of this month.

The only thing I have is two vehicles for collateral. I need 2250 it sounds like a lot but to a lender with some money is this really that much? I need a lender that will be willing to work with someone with credit score 0, collection on file, and length of employment only being 4 months. Does anybody know of any lender that would be willing to work with me? Just honestly trying to get back on track from being laid off.

Thanks,
19th
Message 1 of 2
1 REPLY 1
lo_nc84
Member

Re: My Score Is 0 But I Am In Need Of A Loan ...

Hi 19th,

 I am nowhere near a expert on credit. I can only give you personal experience; I went through something a lot like you are now. I couldn’t pay rent and my apartment complex was unwilling to work with me. I cleaned the apartment and dropped the keys off to them. They filed a judgment against me for almost $2200. It was then sold to Hunter Warfield and is now over $3000. It was the worst decision I ever made in regards to my credit and life choice. One judgment’s look bad either way you look at it. Two, this will impact your rental history for at least 7 years (I’ve heard 10).  (I am currently looking for a place to rent and am being turned down)

  1. Is this a private landlord or an apartment complex?
  2. Will they take partial payment? In my opinion that proves that you will rectify this issue. Most private landlord’s would rather have some cash than nothing and it show’s them you will pay.
  3. Are the vehicles paid for? My suggestion is if they are to sell one to pay the landlord. It is always hard but sometimes you have to do what you have to do.
  4. Not suggested but again you do what you have to do… Take a loan with a paycheck loan company. I am sure this is not highly thought of. But if it comes to that you might want to think about the option.
  5. I don’t think you will be able to get a loan any way but the way of vehicle title loan or a payday loan.
  6. If you can borrow from family or friends, you might want to take that approach.

I hope everything works out ok. I know it’s a very scary time. You might have to let other things fall by the waist side as your CR will be extremely hurt by the eviction and judgment that will follow. It will make renting any other place very hard. Good luck and keep us posted.

 

Take Care-

 

Lo

 

Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.