Personal Loan for Bad Credit

Anonymous · ‎07-05-2017

Hi all,

I have put myself in an odd situation with a recent job change, breakup, move, and several businesses requiring more capital. As such, I have stretched to the limits of my credit, but have never been late or 'charged off' anything with any lender. I have always paid early, and have never had an issue.

Over the next 20 days, I will need a loan of $15K, however my credit is in the high 500s (590 exp, 640 FICO) and I am unable to get a loan through a site like Sofi or Prosper due to the balances being so close to the limit. Now, I have not 'fully applied', as in 'hard-pull', but when I put my info in, it doesn’t even allow that option.

That said, have any of you had luck with these lenders? I can show good income, and I will pay off the loan in 60 days or less (have a $100K not coming due in August).

Thanks for your help!

Anonymous · ‎07-06-2017

Welcome to the board.. Have you tried the credit unions?

Anonymous · ‎07-07-2017

Thanks for the welcome! I have not.. Just have not considered it. I am looking for around $10K over an extremely short (3-6month term). I can prove $200+K income last year via taxes, but have not made it past any of the 'prequalification' screens for most of these P2P lenders.

Anonymous · ‎07-07-2017

What is your utilization and how much revolving debt do you owe?

Anonymous · ‎07-08-2017

Thanks for reaching out. Here is what it looks like presently:

0 Mortgage history

3 Installment accounts.. $128K used, with 31K avail. 81% debt to credit

5 revolv. accounts... $76K used, with $120 avail. 100% debt to credit. AMEX is reporting the wrong top line number, refuses to fix it, so it looks like I am absoutley strapped. It is more like 80% as well if they were to fix.

Thank you for your help.

Anonymous · ‎07-08-2017

@Anonymous wrote:
Thanks for reaching out. Here is what it looks like presently:

0 Mortgage history
3 Installment accounts.. $128K used, with 31K avail. 81% debt to credit
5 revolv. accounts... $76K used, with $120 avail. 100% debt to credit. AMEX is reporting the wrong top line number, refuses to fix it, so it looks like I am absoutley strapped. It is more like 80% as well if they were to fix.

Thank you for your help.

Yee-haaa....It's going to be next to impossible to get an installment loan regardless of how much income you have. What cards are maxed? No AA at all yet?

I don't have any idea who would even touch you. I know SoFi and the likes won't.

Anyone?