I Need An Easy Fast Loan For $2000
The problems that this consumer is having with cash flow is not that uncommon. Many consumers who are living from pay check to pay check find it difficult to deal with emergency expenses when they occur. Even if they do have an emergency fund set up, there are times when they find that they have insufficient money in their accounts.
The consumer in this case found that his problems came in 3’s. He had a water leak which of course led to a large plumbing bill. Then they had a flat tire on their car which by itself should not have been a large expense. However in an effort to conserve money they were driving the car with bald tires. The mechanic refused to fix the flat tire. Their only solution was to purchase 4 new tires at a considerable unplanned expenditure.
The third issue and these things always seem to come in 3’s. With no medical insurance they have to pay their health costs themselves. When their daughter required medical treatment for an accident, the treatment and corresponding prescriptions depleted their emergency savings. Now they need a loan to help then avoid paying high interest charges on their credit card debt. They charged the cost of the tires to their credit card and the balance is due in two weeks time.
While their credit rating is not overly bad, they have jobs that pay minimum level wages. In addition he does not have a full time construction job. He works on a contract basis and therefore only has a contract level of income and not a job that guarantees long term employment. This situation increases the perceived risk for lenders. They want to see customers that have full time jobs with sufficient income.
Never the less, this consumer has sufficient short term income to support a $2000 loan. He will likely need to repay the loan within 2 to 4 weeks, although final details will depend on the lender and the terms offered. In his favor, his wife works at a regular retail job although it is also a minimum level paying job. Since he does not have an excellent credit rating and does not have full time employment, he will likely be deemed to be a higher credit risk. While the interest rate will be less than typical credit card rates, it will be higher than the best rates offered to high credit rated customers. He will need to also make sure that he meets the terms and conditions of the loan. Failure to repay the loan on time could trigger penalty fees and other processing charges making the loan very expensive in deed. Also, a report to the credit rating agencies would be completed affecting future potential loans.
DEFAULT LOAN APPLICATION FOR BORROWER’S INFORMATION
Home/Mortgage Loan Amount :: $2000
Home Loan Application and Processing Speed (when do you need the funds):: I need a loan within the next couple of days to buy groceries and pay some bills
Do you currently have a mortgage? :: no, I currently rent an apartment with my wife
Bank Name and Branch :: Arrowhead Central Credit Union, N Sierra Way
What City/Town, State and County do you live in? :: San Bernadino, California
Zip :: 92410
What is your employment field? :: Construction
Employment Position :: Part time construction worker, general labor
When are you paid? (monthly/weekly/biweekly):: Weekly
Your credit rating to be – excellent, fair, or bad? :: Fair I guess
How did you find us? :: Looking for an online loan for an easy $2000 loan
How are you paid? (direct deposit/paper check):: Direct deposit into our credit union bank account
Gross Amount Per Paycheck :: $ 500, varies depending on how much work I can get
Do you agree to have this information published online, without your PRIVATE information of course? :: sure no problem
Extra information here please (some detail):: We have had a lot of expenses over the past two weeks that were unplanned and more than our limited savings can deal with. First we had a leak in our bathroom and we had to have a plumber come to fix that. Next the car needed new tires. They were all almost bald, but then we had a flat and the mechanic would not even fix it because it was so bad. He said the tires were unsafe and he could not legally repair the tire. We had to buy four new tires.
The last straw was when our daughter had an accident at school and needed stitches and a prescription for pain. With all of our expenses, our limited savings was quickly exhausted and now we need a small loan to pay off our credit card bill and also buy some groceries. We used our credit card to pay for the tires and the medical expenses. We have another two weeks before the bill arrives. If we do not pay it they will start charging interest which as you know is pretty high. This just adds more expense to our already growing list.
I work part time in construction and do other odd jobs when I can get the work. I have worked pretty regularly over the past year and have a contract that will last for over a month. My wife has a retail job for a major retailer. She makes minimum wage, but at least it is a regular job and she gets good hours. Both of us are going to try to work extra hours for the next few weeks so that we can repay this debt. We just need help over the next week or two to help manage our cash flow.
We know we should have an emergency savings account. We had one, but obviously the amount we had saved was not enough. Our situation is not great. The money we make is enough to pay our regular expenses and save a little bit at the same time. We are so like many people trying to make it on minimum wage salaries. We appreciate your help in finding a lender to help us with this short term loan.
Note to Lender ::