In search of a loan lender in maine that helps with bad credit.
Comments
metalandmeeples t1_j5u4epp wrote
This is actually great advice if you don't have an immediate need for credit despite what finance bros like Dave Ramsay say. It's better to trash your credit for 7 years than trash your foreseeable financial future.
JimBones31 t1_j5uv1s0 wrote
I used to be a staunch supporter of Dave Ramsey but have been moving away from that school of thought. (Though I'm still heavily anti-debt). I really wish personal finance was a required course in highschool.
Zephyr4813 t1_j5ycihx wrote
The ultra anti debt takes I think are small brained. Cheap debt that can yield returns is amazing.
For example, I love my mortgage with 3% interest.
JimBones31 t1_j5ycsvv wrote
Sure, low interest rates are great, but don't you want to own your home?
And starting a comment by calling someone small brained is small brained. 😊🤷
Enjoy your own personal finance. One of the things I've learned from not following everything Dave Ramsey says is that it's not my job to tell everyone how to spend their money.
New-Work-139 t1_j5u5z7j wrote
Don’t do this. DONT DO THIS. Personal loans are almost never a good idea. Sell all your shit, give plasma, whatever you need to do. If you’re in a hole the first thing to do is stop digging.
flocking_north t1_j5tut3j wrote
What are you trying to get a loan for? Generally, you are going to get a bad deal if you have bad credit. Bad credit = high risk, so you are going to pay out the nose in interest wherever you go. You might get approved for a loan, but no lender is going to "help" you, they are going to ream you out.
YogiJ3ear OP t1_j5tvp9g wrote
Personal loan, bill mostly. I’m self employed and this winter has not gone well.
TimothyOilypants t1_j5tx44v wrote
To echo what u/flocking_north said; if your personal bank or local credit union isn't able to do anything like a secured consolidation loan for you, you're pretty much at the mercy of predatory loan companies. Only advice I can give is try and stay away from unsecured (revolving) lines of credit. These will have higher interest rates and are more likely to create more risk for you down the road.
You're better off looking at programs that can help subsidize your food, heating, etc. to free up more of your income to pay down debt.
Everyone needs help sometimes. Don't suffer for pride. You'll get through this.
indyaj t1_j5ufygx wrote
Do you own your vehicle? Take a personal loan off that.
leeroy20 t1_j5womk3 wrote
What type of bills?
Call 211. This is a general service number that may be able to help in finding assistance to pay these bills.
New_Sun6390 t1_j5w3jvj wrote
If your own business is not doing well, you might consider seeking a job at a local business or even Hannaford or Walmart. Virtually everyone is hiring right now. Adding to your debt load only makes a bad situation worse.
sledbelly t1_j5twud6 wrote
Do you belong to a credit union? They are typically easier to work with than larger banks.
I would also look into your town hall, they have programs that can help if you need to pay some bills like electricity and heating.
MathematicianGlum880 t1_j5veuqt wrote
When I fell on hard times, I sold everything I could. Furniture, movies, tv, everything that brought money. Good luck!
[deleted] t1_j5twsa0 wrote
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Antnee83 t1_j5twsd5 wrote
I don't know your situation, but no money + bad credit + a loan is gonna be a force multiplier that makes your situation worse (by a lot) in the long run.
Don't get trapped into a payday loan cycle. Do anything but that. Sell shit if you have to.
You say it's for bills- depending on exactly what it is, you may be able to get away with just not paying it right away and be better off (ESPECIALLY medical bills. Throw them right in the trash, I'm serious). Overdue bills aren't going to gather interest, generally. A loan to someone with shitty credit absolutely will.
Just something to think about. Sorry to hear about your situation.