mcollinsvcollins2003 asked:
2 repossessions, bankruptcy in 1997; late payments on mortgage and credit card in the last 12 months. one repossession has been cleared and the other one still have an outstanding balance.
DAVID
Comments
ouch!! try this resource they compile lenders for people in your kind of situation
With that kind of history, why on earth do you want a personal loan? And if you were a lender, looking at that kind of history, would you be in a hurry to lend this person money? Do you like being in the pit of H*LL? Get a second job, sell stuff at a garage sale or on eBay. Pay off the second repo and then remember where you’ve been so you never get down there again.
People get into these situations for one reason - no savings! If you keep money in the bank for emergencies, WHEN bad things happen (not IF), you have the means to take care of it. Stay away from credit - no car loans, no credit cards, no installment payments. Take care of the repo then save, save, save! Save for that USED car (NEVER, EVER buy new). Save for that new plasma HDTV. Save for … You get the idea.
You have to learn to change your spending habits and recognize how expensive credit is. Look for a “Financial Peace University” class in your area (check the link below). Dave Ramsey is AWESOME. He really makes you look at not only WHAT you’re spending, but WHY you’re spending it. That’s the only way you can change your habits and stop this from happening again. Bankruptcy is a LOT tougher now than it was in 1997. But you DON’T have to go there.
Good luck!
you probably won’t get a loan