Posted on: 19th Jan, 2007 08:35 pm
My question is i need a loan,personal loan to pay some bills,im behind bad for now,i also do paint and body work part time and need to rent a shop,I am retired and get socialsercurity,plus work for my self paintand body,My credit score is only about 525,I owe old chilsupport another problem i have,I need a chance at geting a loan this is the only way i can crawl out of the hole im in .But i cant find one either my score is to low or childsupport kicks it out,Is their any where i can get a loan i need help bad and fast,David Cabrera
Welcome Hurdon.
A credit score of 525 seems low for a personal loan, even more if it is an unsecured loan. As it is there isn't any personal property which secures such a loan, so the creditor may to be willing to provide such loans. But you may still qualify for secured loan at this score.
Since you owe child support, the creditors may have the thinking that you won't be able to keep up with the payments as you already have a liability.
Still you may qualify with bad credit lenders. However, even if you get an unsecured loan with a lender you may find it difficult to negotiate for a low rate.
A credit score of 525 seems low for a personal loan, even more if it is an unsecured loan. As it is there isn't any personal property which secures such a loan, so the creditor may to be willing to provide such loans. But you may still qualify for secured loan at this score.
Since you owe child support, the creditors may have the thinking that you won't be able to keep up with the payments as you already have a liability.
Still you may qualify with bad credit lenders. However, even if you get an unsecured loan with a lender you may find it difficult to negotiate for a low rate.
what kind of personal loan are you looking for? Did you talk to some lenders? What are they actually saying? I think you need to shop more.