Re: Chances of being approved for $10,000 personal... - myFICO® Forums

LacyMcGrady · ‎11-17-2021

Long story short, my grandfather is almost on his death bed.. he hasn't hit hospice yet. But his cancer has spreaded to his upper body and the doctor told us to start preparing for the funeral as he probably only have 2 months left to live.

I need $20,000 at least.

I have two credit unions that I bank with... I have an open loan with one credit union for $3,600 that I opened back in May 2021 in which I owe $2,900 on it. And I was told I can get an increase. I just haven't applied yet.

My second credit union I have no open loans with and I paid off the two loans I had in 2019 and 2020.

my credit report looks like:

-7 credit cards (toy limits) and 3 are maxed out and the remaining 4 are low balances.

$500 personal loan (from credit union #2) Paid off in 2019.
$1,500 personal loan (from credit union #2) paid off in 2020

(I also have a credit card with credit union #2)

$1,000 personal loan ( from credit union #1) Paid off Jan 2021

$3,600 personal loan (from credit union #1) Open since May 2021... I owe $2,900.
7 credit cards no lates. 4 are paid off and 3 are maxed out ($1,800)

Car loan - $23,900 (Closed 2020 paid off by insurance company)

my goal is to try to do door dash for the next 15 days and make at least $70 a day to try to pay those maxed out cards at least down to 30%. I have a day job plus I am studying for sterile processing tech. In the mean time I have a dirty janitor job $2750 gross monthly.

what are my chances? I will be applying within the next two weeks. Hopefully my granddad can hold on.

but we have to have this money to put him away nicely.

rostrow416 · ‎11-17-2021

My sympathies. Not to sound callous or anything, but isn't there anyone else that can share the burden? Or any insurance that can help cover the expense?

LacyMcGrady · ‎11-17-2021

No. I'm pretty much the only one. Long story but he really have no one else.

stw715 · ‎11-17-2021

Try some of these personal loan pre-approval sites and see what pops up. Research them, asking others about their experiences before jump in, best of luck.

https://ficoforums.myfico.com/t5/General-Credit-Topics/Soft-Pull-Pre-Qualify-Links-Part-2-Updated-11...

Anonymalous · ‎11-18-2021

It's very admirable that you want to go to such lengths for your grandfather, but it sounds like $20,000 is going to be a huge stretch. Have you considered all the options? Giving someone a good send off is more about the people who care than the money, and funeral homes are notorious for upselling people when they're at their most vulnerable. In most places, a good, respectful funeral can be half or a third that. If your grandfather is a vet, a burial in a national cemetary won't cost anything, and comes with the full 21 gun salute.

CreditInspired · ‎11-27-2021

@LacyMcGrady wrote:
Long story short, my grandfather is almost on his death bed.. he hasn't hit hospice yet. But his cancer has spreaded to his upper body and the doctor told us to start preparing for the funeral as he probably only have 2 months left to live.

I need $20,000 at least.

I have two credit unions that I bank with... I have an open loan with one credit union for $3,600 that I opened back in May 2021 in which I owe $2,900 on it. And I was told I can get an increase. I just haven't applied yet.

My second credit union I have no open loans with and I paid off the two loans I had in 2019 and 2020.

my credit report looks like:

-7 credit cards (toy limits) and 3 are maxed out and the remaining 4 are low balances.

$500 personal loan (from credit union #2) Paid off in 2019.
$1,500 personal loan (from credit union #2) paid off in 2020
(I also have a credit card with credit union #2)
$1,000 personal loan ( from credit union #1) Paid off Jan 2021
$3,600 personal loan (from credit union #1) Open since May 2021... I owe $2,900.
7 credit cards no lates. 4 are paid off and 3 are maxed out ($1,800)
Car loan - $23,900 (Closed 2020 paid off by insurance company)

my goal is to try to do door dash for the next 15 days and make at least $70 a day to try to pay those maxed out cards at least down to 30%. I have a day job plus I am studying for sterile processing tech. In the mean time I have a dirty janitor job $2750 gross monthly.

what are my chances? I will be applying within the next two weeks. Hopefully my granddad can hold on.

but we have to have this money to put him away nicely.

As you know, $20K is a huge amount for a PL. I'm sorry to say that with your monthly income, 3 maxed out credit cards, and cards with toy limits, it's going to be next to impossible to get a loan of that size. And, even if you did, the interest rate would be pretty high. Here is an example. If the loan was at 10% interest for 5 years, the monthly interest alone (not including principal would be $166.67).

I have a suggestion. Think about a GoFundMe page. It really helped my niece's family when they found there was no life insurance.

My sympathies are with you and I hope you take this with all the sincerity I offer. Please realize that this is a terrible time for you, and it may not be prudent to take on this kind of debt at this time.

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SouthJamaica · ‎11-28-2021

@LacyMcGrady wrote:
Long story short, my grandfather is almost on his death bed.. he hasn't hit hospice yet. But his cancer has spreaded to his upper body and the doctor told us to start preparing for the funeral as he probably only have 2 months left to live.

I need $20,000 at least.

I have two credit unions that I bank with... I have an open loan with one credit union for $3,600 that I opened back in May 2021 in which I owe $2,900 on it. And I was told I can get an increase. I just haven't applied yet.

My second credit union I have no open loans with and I paid off the two loans I had in 2019 and 2020.

my credit report looks like:

-7 credit cards (toy limits) and 3 are maxed out and the remaining 4 are low balances.

$500 personal loan (from credit union #2) Paid off in 2019.
$1,500 personal loan (from credit union #2) paid off in 2020
(I also have a credit card with credit union #2)
$1,000 personal loan ( from credit union #1) Paid off Jan 2021
$3,600 personal loan (from credit union #1) Open since May 2021... I owe $2,900.
7 credit cards no lates. 4 are paid off and 3 are maxed out ($1,800)
Car loan - $23,900 (Closed 2020 paid off by insurance company)

my goal is to try to do door dash for the next 15 days and make at least $70 a day to try to pay those maxed out cards at least down to 30%. I have a day job plus I am studying for sterile processing tech. In the mean time I have a dirty janitor job $2750 gross monthly.

what are my chances? I will be applying within the next two weeks. Hopefully my granddad can hold on.

but we have to have this money to put him away nicely.

I don't know what your chances are but I'd say that your plan of paying the revolvers with balances down to below 30% is good. Since you already have relationships with 2 credit unions, I guess your best bet for a loan is to go to them.