Is it possible to get a loan with bad credit?

[anti_shrub]

Long story short, my credit's the shits due to my family's whole nest egg getting wiped out from my dad's pre-Medicare cancer bills. I have stedy employment, but a small loan to wipe out small nagging debts would go a long way to improving my financial outlook.

Of course I can't get the bank to look at me w/o laughing.

I know a few DU'ers were (are?) in similar situations, so does anyone know where I can turn to without getting laughed out the door?

[Bluebear]

1. What do you mean by a small loan?

What are we talking?

[anti_shrub]

7. $1000 max, if that

is all I'd need

[Mizmoon]

9. What is your total debt?

Who do you owe? Credit cards? Student loans? Car loans? Loan sharks?

List your debts, the intrest rates you are paying, and tell me your monthly income. I will give you some good advice that people usually pay me a bundle to get.

[Moonbeam_Starlight]

2. Sure

but what kind of interest rate are you willing to pay?

[the Kelly Gang]

3. have you thought of changing the spelling of your name slightly

confuse the computer

[BringEmOn]

4. Yes...if your name is Bush

[bearfan454]

5. Yes you can get a loan, I did.

If they don't approve your loan, they don't get any money.

[ChoralScholar]

6. I'm in the same situation

I'm hoping I can get a home loan, especially since I'm a first-year teacher.

[slutticus]

8. I hope so.

I'm in grad school right now...got into credit card trouble. I hope I'm not too screwed once I get out.

I think you can pretty much always get a loan....they just jack up the interest rate if you have bad credit.

[catmandu57]

10. Have you tried getting a cosigner?

I don't know your situation, but if you'ved banked with the same bank, and have a good track record there, a hardshop loan may be in order.
I have the same situation my credit is shot through, a few years ago I desparately needed car repairs, so I made out a detailed listing of just how much money came in and where that went, how much I needed and how I would repay trhe loan.
The loan officer scratched his head and told me if I could get someone to cosign then they would approve it. I did, they did, my car got fixed, my credit is still cheneyed, but I don't forsee any loans in my future.

[Aristus]

11. Take it from me. I used to be in banking.

Most banks have a division for sub-prime lending. For example, Wells Fargo Bank has a division called Wells Fargo Financial, which deals with lending situations like yours. They work very hard to get loans for people with bad credit. They often have you sign your collateral over to them for the duration of the loan. (They will often take a car as collateral, no matter how old or beat-up). However, the interest rate tends to be pretty high. If a sub-prime lender can't get you a loan, they will often refer you to consumer credit counselling.