PLEASE HELP!!!!!!

[karileigh78]

I'm new to this site and am unsure if this is the right place to ask, but............

Does anyone know how I can get a loan for $6000 with a credit score of 545???? 

Any information would be greatly appreciated.... I am in danger of losing my home!!!!!!

[Shogun]

Do you have a good working relationship with a CU or a local bank?  These might be your best chances.  I don't know what's on your CR, but that score is a bit too low for a conventional loan.

[karileigh78]

No, unfortunately I don't. I know that the score is entirely too low for a traditional loan, even through my bank. Do you know of any company that does handle bad credit loans in the amount of $6000? I am willing to accept a higher interest rate. I am in a major mess!!!! 

[wHiTeSoL]

You can try Springleaf Financial. I warn you though, the interest rates are above 20%. I had similar scores last year and they gave me a $3000 "secured" loan, secured they said by random house hold goods that I had, they had me list my TV and cell phones and computers and give them a value so if i defaulted they would repossess those items. Good luck.

[DaBears]

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@karileigh78 wrote:

No, unfortunately I don't. I know that the score is entirely too low for a traditional loan, even through my bank. Do you know of any company that does handle bad credit loans in the amount of $6000? I am willing to accept a higher interest rate. I am in a major mess!!!! 

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Hi karileigh78 and welcome to the forums!!!! What kind of mess you are in? We might be able to help if you list the specifics? I agree with Shogun a conventional loan would be out of the question and getting a secured loan would probably be worse. Let us know what you are needing and we can go from there. 

Community Leader, 

DaBears

[karileigh78]

My situation:

I rented this home on February 1, 2013 and lost my job on February 4, 2013. I have paid rent through April, but have depleted all savings by doing so. I have been diligently seeking employment, but with today's economy it has proved extremely difficult. I recently teamed up with a company to sell insurance over the phone. I believe that this will be rewarding, but it is still in the trial and error process. 

My daughter is turning 5 in less than 2 weeks and has been planning her big girl birthday for 3 months. It devastates me that she may not be able to have her party the way she wanted. Not to mention, she starts her first day of Kindergarten on Monday. I can't stand the thought of having to transfer her to another school in Kindergarten. That will be such a difficult transition for her. 

I am trying to secure a loan for $6000 to cover paying into the depository as well as cost of moving in case things do not go well in court. 

Please let me know if there is anything that you can suggest.

[MoMud]

Tough times,

I have been in tough spots with my kids not being able to get the good things or the things we want them to have. I have 4 children personally, they are resilient and most don't mind waiting a little to get that special day or thing. Can't tell you how many bday parties I had to put off until a payday or 3 away to make it happen.

And take this with a grain of salt, could it be possible that you may need to downgrade a little for a while to help save some money? I once had to downgrade to beans and rice for about 4 months because I let bills get behind and my children needed things. My kids don't like beans and rice much now though LOL. But they never knew about the financial trouble.....

Advice from a Father who has been there......only help i can give at the moment.  Good luck

[karileigh78]

I've downgraded a lot... and my fiance has been working. My rent is only $950/month for a 4 bedroom home (we have 3 kids in the home). I can't downgrade my rent much more than that..... I just started working again and I know that we are going to be fine. I just need to secure my place to live. Even if I was to move, I'd need the money for that. Any suggestions on where I could get a loan with such damaged credit?????

[DaBears]

SpringLeaf Financial might be the place to start. I dunno if they will go that high tho.