need suggestions for personal loan vendors

[Resigned2BK]

We discharged out of our Chapter 7 in April 2012, but did not close until August 2013 (trustee house grab).

At this point, we are looking to buy a mobile home. We technically have just barely enough cash to do it, but might only have up to $1K left (if we get the seller to agree to the offer we make). That's not enough to get window treatments, do some painting and yard stuff, maybe get some furniture we'll need, moving expenses, and whatever else). I just looked up Lending Tree and they only showed two offers for my situation (660 credit score). One is Springleaf Financial and the other is BorrowersFirst.

Does anyone have experience with those? With the savings in housing cost, I anticipate we should easily be able to pay off the balance after one year, but if we have to keep renting, we won't be able to save (rent is twice as much as lot rent in a MH community in our case).

thanks in advance

[switch625]

A couple years before I did BK, I took out a loan with One Main Financial, which turned out to be one of several stupid decisions that paved the way to my BK. They were always the first of my creditors to call me if I was late and only after two-three days late at that. Not familiar with BorrowersFirst, but if Springleaf is anything like OneMain (they seem to be in my mind, with storefront lending) I'd stay away. The interest rate will be sky high and you will pay little principal in the first year and you may end up wondering if it was worth it to be paying 200-300 a month in mostly interest if your plan is to pay off the loan in a year. Also, the longer the term on these loans, the higher the rate and we are talking between 21-27% APR. With OneMain they ask for several personal references and you establish a one-to-one realtionship with your lending rep which I was alway uncomfortable with because they knew so much about me and people who go to OneMain or SpringLeaf are usually a step or two away from financial calamity.

[magic13]

Be careful with One Main Financial, they are actually Citi Corp. A large player in the credit game.

[Resigned2BK]

yeah, the apr listed on each was more mid 20s, pretty extreme. I'm just trying to figure out how to get a little extra funds, like $5-10K and no one seems to think mobile homes are real (which is pretty stupid, but oh well).

[LadyInTheRed]

With a 660 credit score, you are not going to get reasonable rates. Have you done anything to rebuild your credit? Have you checked your credit reports for errors?

[Resigned2BK]

yes, and there are no errors. All accounts are listed as on time, it's just that bk that's the big ole black spot after all this time still. Very very frustrating.

[LadyInTheRed]

Have you actually used credit so that your credit reports show recent credit usage and on time payments?

[klandsb]

Have you tried a Credit Union ??? I thought that I heard it is hard to get a loan for a mobile home because they depreciate so much and they are mobile whereas a home is a permanent structure on a piece of property...