$60000 Dollar Loan for Bad Credit in Dayton Ohio – FUSA

This client is in a really difficult situation. His credit rating has been severely damaged due to many bad decisions on his part, which is making it difficult for him to find anyone willing to lend him money. He needs a $60,000 loan and lives in Dayton Ohio.

His bad decisions include overspending on his credit cards, having many credit cards and then failing to make payments on these credit cards. All of this has put him in a bad situation and all of the lenders he has approached have refused to lend him any money. We understand his situation, however the only way a lender is going to lend him money at this stage is to charge a high interest rate to cover the risk and possibly even garnishee his wages to ensure that they get paid. He might have seen the light and now has the best intentions, however business people will not be willing to take the chance on this client at this time.

The payments on a $60k loan are pretty high even if it has a lower interest rate than credit cards. He makes $3200 a month and the payment on a loan will be approximately $1300 depending on the final interest rate or 40% of his monthly income. This is at the upper limit of what many lenders would consider for a client with an excellent credit rating, let alone someone with really bad credit. He still has rent to pay, utilities and other living expenses that we all have.

It is doubtful that he will find any lender willing to touch this application for such a large amount of money. He is going to have to focus on paying down the credit card with the highest interest rate first and then focus on the other cards while continuing to meet the monthly payment schedule of his debts. He may need to take a second job or work over time in an effort to generate more income to help him get through this difficult time. Once he has demonstrated regular payments and reduced his debt some what, he might be able to reapply and be approved for a loan at a lower interest rate. Until then he is faced with paying his debt off slowly and dealing with high interest rates.
Loan Amount :: $60,000

Loan Application and Processing Speed (when do you need the funds)::pretty quickly, the credit card companies are demanding payment right away

Do you currently have a mortgage? :: no, just a whole bunch of credit cards with unpaid balances

Bank Name and Branch :: Wright-Patt Credit Union, Inc, 1137 W Third Street

What City/Town, State and County do you live in? :: Dayton, Ohio

Zip ::45402

What is your employment field? :: mechanic

Employment Position :: mechanic

When are you paid? (monthly/weekly/biweekly):: biweekly

Your credit rating to be – excellent, fair, or bad? :: really damaged credit

How did you find us? :: I have been searching on the internet for someone who will help me with this loan problem

How are you paid? (direct deposit/paper check):: Direct deposit

Gross Amount Per Paycheck :: $1600

Do you agree to have this information published online, without your PRIVATE information of course? :: sure, why not

Extra information here please (some detail)::I need a loan right away. I owe $60,000 to a bunch of credit cards and I have not been paying my monthly payments. My credit rating has three major strikes against it. First I owe all of this money, secondly I have multiple credit cards and thirdly I have missed several payments on these cards. One lender even told me that I have a severely damaged credit rating and could not believe that I was serious about applying for a loan. Of course he was with one of the major banks and they never lend to people like me with bad credit, let alone severely damaged credit. He almost laughed me out of the office.

This application for this loan is my last resort. I am hoping that you will be able to look at this loan and lend me the money based on my guarantee that I will make all of the payments on time. I have learned my lesson and plan to really focus on meeting my obligations. All I need is a chance to obtain a loan at a lower interest rate than what the credit cards charge me so that I can repay what I owe ever faster. With a lower interest rate I hope to be able to save a great deal of money and repay it that much more quickly.

Note to Lender :: I have worked at the same place for the last ten years at a local car dealer as a mechanic. I am their go to guy whenever they have a major problem that they cannot seem to solve. I work on all kinds of cars, but mainly engine and electrical problems. All of the other stuff is strictly mechanical and not that difficult to fix. While I am an expert in my job and well respected in my field, I obviously cannot manage my finances very well. Or I would not have ended up $60k in debt.

I really need to get this loan approved and get my life in order. I am prepared to scrimp and save until everything is fully paid for. I am not accustom to having to deal with these kinds of problems and would appreciate a little help.