can I apply for a loan with fair credit and no home to refiance, to help me and my husband rebuild our credit?

Question

I would like to get a loan but each place I try on line it consist of home ownership, wich I don't me and my husband don't have yet. But I need a loan to help get us on track and help us get our credit score build up

Answer 1

The BEST way to raise your credit scores is to open small acounts first. Such as store credit cards (JCPenny, Lowes ect). Once you get one of those make several purchases and pay them off as quickly as possible it will take months maybe even a year or so to get your credit score to start improving. Good Luck!!!

Answer 2

If you have a job you should be able to get a loan. The interest rate may be high. Try to join a credit union. Call some credit unions and ask them what you need to do to open an account. If you have to work at a certain place try to get a job there at least long enough to open the account. Most credit unions will make personal loans for up to 12 months. Borrow a small amount and pay the loan off in five or six months. What they will want to see is a history of payments made on time, so don't pay it off in one month.

Other than that you could try to start a corporation and establish credit but that gets complicated and would take at least a small amount of money up front.

Some banks offer a cash up front credit card. You give them $500 and they give you a credit card worth $500. You buy something for $100 and then pay the credit card bill. Again, in time, you could establish credit.

Another idea is to try to get a co-signer for a loan. The loan will be based on the co-signers credit.

Hope that helps.

Answer 3

I would try going through a bank and trying to get a personal loan even if you have to put your car up for collateral.....this will help build your credit....whatever you do....watch out for businesses on the internet that will tell you that they can loan you money..i.e. (Rockwell Capital Group)....BIG SCAM!!!!!......or if you go to a finance company and get a small loan, you might have to pay a bigger interest rate, but it will help your credit if you pay it on time...hang in there...i filed bancruptcy about 11yrs ago when i was 19, my bancruptcy was closed in 2000, but i am just now able to start getting stuff....it takes so long to fix your credit, but it is worth it in the end......keep your head up!!!

Answer 4

you don't want to BORROW MORE to get out of the debt that you already have. try going to the credit counselling bureau. (make sure it is a reputable one) or go to the Oprah web site. She did a series called the Debt Diet. It has the steps to show you how to get out of debt, including some good worksheets.

Good luck!