I have been creeping around the forums forever, and many of you have really helped me figure out the best ways to improve my credit, so THANK YOU!
However, I figured it was finally time for me to actually post a question, as I wasn't finding the complete information that I needed.
So here's the deal: I need a $8500 - $9000 loan.
My Credit File:
My *lowest* credit score is a 620 (EQ).
I have one credit card with a 1k limit & is currently at 20% for utilization.
I have an auto loan - monthly payment of $278, and about 4k to pay off.
I have student loans - about 55k - All in deferment.
I just graduated college and make about 24k annually for income.
As for negative things on my report...
I have one credit card that reports as a charge off. It was for about 1.5k. However, I've recently settled this account, and it has yet to update.
On my open credit card, I have a couple late payments ranging from 30-90 days late. However, it's been 9 months since any late payments.
So my question to you all is how likely is it that I can be approved for a loan of this amount? Is there anything I can do to increase my chances of being approved? Any and all information would be helpful!
Thanks in advance!!
Not very likely, IMO. Your file is pretty thin and includes derogs. Decent personal/unsecured loans aren't all that easy to get.
What is the loan for?
You can work out a payment arrangement with the property tax division. It will halt foreclosure for sure. Call them immediately and get it in writing.
Ouch. I'm sorry about your loss.
$9000 net income in 3 months is going to be tough. A personal loan likely won't happen at that rate. One thing to consider doing is looking for additional income sources -- can you drive for Uber and Lyft on ALL your off hours? If you can put in 60 hours a week doing that, it's feasible to bring in $2000-$2500 a month net. Over 2-3 months that gets you much closer, and at that point you MAY qualify for a very high interest $3000 loan that you can pay off in 1-2 months of additional driving.
I can't think of any routes otherwise -- getting $9000 on $24000 income with derogatories reporting isn't going to happen even at a high interest rate. If you don't have assets you can sell immediately, you're going to have to push your limits to finding routes to earn enough to cover it. Overtime at work requests may also be possible, but doubtful it would add up to $9000 in 3 months after taxes.