How do you get credit after 3 horrible marriages and a completed bankruptcy?

Question

Had 3 husbands, finished a bankruptcy, started my own business but due to the holidays, tax season and a project that did not pay, I am in dire need of financial assistance to maintain my monthly household expenses. Can anyone suggest what I can do or where I can go for assistance?

Answer 1

How much do you need?

Answer 2

I would recommend going to the forums on creditboards.com. There's a lot of people on there who have a lot of experience with credit and give advice away for free. Good luck and sorry to hear you've had so many personal and financial problems.

Sometimes people can get loans on Prosper.com but it varies depending on the circumstances. I'm a group leader on that site and can offer further advice if you are interested.

Answer 3

Obtaining credit and building it:

Under no circumstance should you use a "payday loan" center. This will not build your credit... it will only charge you like a legal loan shark! Your fees will continue to pile up and it's hard to get out of debt to them. You become stuck using them to "get ahead."

The Premier Credit Card is a great card to have and it is a credit building card: http://www.mypremiercreditcard.com/ There is a fee per year that they bill to the card... about $70, then around $6/month for a usage charge.

When your debt starts to decrease... start small... charge gas on it twice a month and pay all but $10 off when the bill comes. They report EVERY month to the credit agencies, so having this account current will help raise you score! Higher scores mean lower payments.

PAY EVERY BILL ON TIME!!! Do not extend past the grace period. Lates will damage your credit and creditors will be weary of lending to you.

If it was a Chapter 7, breath a little deeper. The laws have changed, but you will be better off in the long run.
People will tell you all sorts of things... but a BK is a BK... a 13 or a 7! It all still shows up as a BK on your credit. With a 7, you are out from under most/all of your debt, which brings your "Debt to Income" ratio lower.

If you own a house, consider refinancing. Here is a link to a company that can shop about 150 banks to find what you need for your situation: http://www.cfic.com/jasonhernandez&page=about

If you still owe on your vehicle: Lending Tree really is a great tool to find a lower rate! We are about to refi both our cars and will save $70/month.

If you do not need a newer vehicle, DO NOT get one to raise your credit!! They are negative equity!! Unless someone has the cash or gets 0% financing, you will start off thousands in the hole before you get it off the lot!!

GOOD LUCK!!! You will get through this. My husband and I followed the steps I mentioned above.... We now have a new house and two later model cars.

Jason Hernandez worked maricles for us with his credit advise!!!
The Premier Credit Card was an absolute credit builder for us!!!
We had scores of 480s to 540s in May of 04'. We now have middle scores in the low 700s!!!

Cut back on the little things... Make coffee at home if you drink it.. do not get it at coffee shops, gas stations.... Eat at home. Cut back on fast food and going to restraunts! This adds up soooo quickly!! Cut out the cable all together or swith to the cheaper package!! Buy store brand groceries. 7 times out of 10 the brand name companies make the products anyway!!
It's "The Latte Factor."
PLEASE PLEASE PLEASE check out this website!!!
http://www.finishrich.com/pages/home.php?PHPSESSID=80f30a0d75f134b8c60399534e9ac795

http://www.finishrich.com/free_resources/lattecalculator.php

David Bach is wonderful!!!
Dave Ramsey is ok... but there are a lot of things I disagree with.

Answer 4

Believe it or not, banks are sometimes glad to lend money to people who have gone bankrupt because they are now debt-free. I don't know that it would help you to start borrowing more at this time. I don't know what your circumstances are. Maybe you just feel you need a new car, but if you're really scraping the bottom of the barrel, contact Catholic Charities in your area. You don't have to be Catholic and they won't preach to you.

Answer 5

I'd borrow money from family to see you through, the people you owe money to will just have to wait. Its never a good idea to borrow money for monthly living expenses. If you have to do that, your business is not making it. cut costs everywhere possible if need be. You might not be able to afford your standard of living, in which case, spend less or earn more. Not pleasant to hear I know, but its true for me too unfortunately.

Answer 6

Wow....I bet your under a lot of stress!! I feel for ya....

I don't know of any magic bullets,hun...sorry.....but here is a few ideas,,

1) Sell some things....We almost always have something in storage we don't need....You can have a yard sell or pawn something to get some quick cash...

2) I would suggest one of those "title loans" like places..but I think you would just be digging yourself in deeper....

3)Do you own a house??? Have you tried a home equity mortgage??

4) Check out my source below.....

I hope everything works out for you!!

Answer 7

Search online for a few website lenders. Look at what they have to offer and see if they will meet your circumstances. Hey they give unemployed loans nowadays so yours should be quite easy to get.

Answer 8

Go to http://www.cccsatl.org/ for credit help.

Also, you need to get a secured credit card from a major bank. You put $250.00 in an account and they will give you a credit card.

You can get your $250.00 back in one year.

Answer 9

You can try a payday loan. Even if you are self employed, they will lend you money.