Very Bad Credit Loan in Miami, FLA for $3000 — I live in Miami, Florida. My name is Bolton and I’m a land surveyor.
My credit score is really bad credit is bad, and I need to borrow $3000.
Can pay back $240 a month over time? I really can’t afford much more per month that this with all by bills and child support payments.
Want lowest APR possible. Need money transfer same day please. I am 34 years old this week, and I have three children. I own a home but only have around $20, 00o in equity. I would prefer to not use home equity for this loan please. I would like to make this a personal cash loan, and use my employment income as the lender’s security.
Lender Notes: This borrower/applicant only needs to borrow $3000 but he doesn’t want a high APR that some small consumer loans have. There are the typically high APR SCLs (small consumer loans), such as Payday Loans, Installment Payday Loans, and Cash Advances.
Most all conventional lenders won’t lend money out for personal loans to their customers for lower than at least 5000 dollars. They need to make more money per transaction than that when they are only charging an APR of 10% to 13% (which typical for a loan approved to a bad credit customer). These loans for 3K, and under, are more often handed off to the high-yield lenders who DO charge massive APRs.
For a loan between $2000-$5000-$6000, and up to $10,000 or more you should be using a personal line of credit, a home equity line of credit, or a low interest credit card. If you use a credit card cash advance, MAKE SURE you pay it back as soon as you can.
This applicant ended up cleaning up his credit score my removing some of his blemishes, and paying off some of his credit card debt. He took out a cash advance on his credit card, and paid back $250 dollars each month on the loan. Of course this cost him allot in interest until it was paid off, but it worked.
If you need to borrow over $1500, you should try using other sources of credit before breaking down and using a PDL, cash advance, or payday installment loan. [LL Cite] [Time-Stamp 2011-09-25, 21:05:24]
Disclaimer: The views expressed by this author don't necessarily reflect the opinions of Lazerloan.com, it's owners, or it's affliates.
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