♥Stacy asked in Business & FinanceCredit · 1 decade ago

Question about getting a personal loan with bad credit?

We have just suffered a big financial blow due to some unexpected expenses and now are at a loss about what to do about Christmas for our children. I have very bad credit due to trusting my ex-husband when we were together. Big mistake!! I am getting it cleaned up but it's been a slow process. I was wondering if there is anywhere to get money for Christmas with bad credit that isn't a payday loan place.

We always stress the importance of giving and that Christmas in not about presents. We don't buy big expensive gifts. We have 7 children and we usually buy them things that they need and can use (clothes, shoes, stuff for their rooms and usually the one (not too expensive gift that they really want.)

I also don't want to go to a chairty because we can pay it back, just not all at once and there are people that can't and I don't want to take away from them. Any suggestions would be greatly appreciated...thanks and have a blessed day!!

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  • 1 decade ago
    Favorite Answer

    I agree with Scot. Any loan that you could procure from a commercial lender would have extremely high interest rates. you haven't mentioned how much of a loan you were looking for. But if it's only for a thousand or a couple of thousand you might be able to find a "loan shark" who could get you the cash.

    Personal loans, by nature, are the hardest loans to be qualified for. To be qualified you have to have collateral or assets for the loan to be secured by such as an automobile that is paid of or property that you own.

    In your situation I would also suggest borrowing from a friend or a family member who you would pay back after the holidays. This would keep you from falling victim to predatory lending tactics.

    Source(s): 10 yrs Mortgage Banker
  • Anonymous
    1 decade ago

    Honestly, if you want to avoid getting ripped off, I would recommend getting a loan from a friend or family member, assuming you know you'll be able to pay it back in full.

    If you have bad credit, getting an advance, or a loan will hit you hard. You'll end up paying 20-30% on top of the loan amount in interest, at the very least. So not a good idea.

    I know you don't want to let your kids down, but Christmas isn't as important as their future if you get into more financial trouble.

    If at all possible, you could try to qualify for a 0% APR credit card for 12 months. Make sure it is a card that allows 0% financing for 12 months for purchases. That way you could buy gifts now and pay the minimum payment for up to 12 months without paying any interest.

    But if you are late again, they can eliminate your 0% APR, so be cautious.

    Good luck.

    Learn more about mortgage, credit, and finance at:

    http://www.thetruthaboutmortgage.com/

  • 4 years ago

    1

    Source(s): Safe Secure Personal Loans : http://personalloans.ohfos.com/?zqT
  • Anonymous
    4 years ago

    For Credit and finance solutions I always visit this website where you can find all the solutions. http://your-finance.us/index.html?src=daxroAA35

    RE :Question about getting a personal loan with bad credit?

    We have just suffered a big financial blow due to some unexpected expenses and now are at a loss about what to do about Christmas for our children. I have very bad credit due to trusting my ex-husband when we were together. Big mistake!! I am getting it cleaned up but it's been a slow process. I was wondering if there is anywhere to get money for Christmas with bad credit that isn't a payday loan place.

    We always stress the importance of giving and that Christmas in not about presents. We don't buy big expensive gifts. We have 7 children and we usually buy them things that they need and can use (clothes, shoes, stuff for their rooms and usually the one (not too expensive gift that they really want.)

    I also don't want to go to a chairty because we can pay it back, just not all at once and there are people that can't and I don't want to take away from them. Any suggestions would be greatly appreciated...thanks and have a blessed day!!

    Follow 5 answers

    Source(s): For Credit and finance solutions I always visit this website where you can find all the solutions. http://your-finance.us/index.html?src=daxroAA35
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  • 1 decade ago

    You Can Try Sunbelt Credit,Payments Are About $120.00 A Month For A $1000.00 Loan/Depending On Your Credit...

  • 6 years ago

    Question about getting a personal loan with bad credit?

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