Lenders: contact
us for listing removal.
Provident Credit Union
1757 Technology Dr #10, San Jose, CA 95110
providentcu.org
800.632.4600
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Meriwest Credit Union / Chesbro Financial
Center
5615 Chesbro Ave, San Jose, CA 95123
www.meriwest.com
877.637.4937
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Star One Credit Union
3136 Stevens Creek Blvd, San Jose, CA 95128
www.starone.org
866.543.5202
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Technology Credit Union
2010 N 1st St, San Jose, CA 95131
www.techcu.com
800.553.0880
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CommonWealth Central Credit Union
3075 Union Ave, San Jose, CA 95124
www..commonwealthcu.org
408.531.3100
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First Republic Bank
1625 The Alameda, San Jose, CA 95126
www.firstrepublic.com
408.999.0242
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US Bank Branch
2980 E Capitol Expy, San Jose, CA 95148
locationsusbank.com
669.234.5069
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Heritage Bank of Commerce
150 S Almaden Blvd, San Jose, CA 95113
www.heritagebankofcommerce.com
408.947.6900
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Bad Credit
Loan Form for San Jose
San Jose CA Lender Service Area
Map
Tap
image for larger interactive map.
San Jose
5x5 Loan App Volume
Top 5 San Jose neighborhoods
for loan application volume in the last 5
months.
Source: WFL
Lender Pool. Updated
Monthly.
Bad Credit Loan Example In San Jose
This consumer in San Jose ran into a number of life
issues that strike all of us at some time in our lives. In this case
he had an accident at work, was off on disability for 4 months and incurred
a number of medical related expenses which were not covered by the insurance
company.
The combination of having less income along with the additional expenses
has put them in debt on their credit cards.
He is back at work now and working extra hours to make additional money
to pay of his debt.
They made the mistake of missing a few payments as well which combined
with their total debt on the credit cards contributed to 400 level credit
score. He is finding it difficult to be approved for a loan with a 400
credit score.
If this was not bad enough, their roof is leaking and they need major
repairs which will cost almost $10000. They would like to borrow a total
of $25000 and consolidate their high interest credit card bills along
with the roof repairs. They are having a difficult time finding a lender
willing to take a risk with them given their low credit rating score.
The homeowner did not offer his home as equity, and we are not clear
how large the existing mortgage is or whether he could combine the existing
mortgage with the additional amount he would like to borrow.
If he was able to consolidate all his debt into one secured mortgage
payment, he might qualify for a lower interest rate and a lower overall
monthly payment. He will need to provide more information if he wishes
to pursue this option.
Regarding his roof, we wonder if he has explored the idea of repairs
rather than replacement. We obviously have no idea why the roof is leaking
or what condition it is in. If he could make repairs, the cost would
be substantially lower providing him with some breathing room until
he gets his other debts under control.
Although he did not discuss emergency savings, we assume that there
are no savings for him to draw on and reduce his overall debt. Perhaps
this is something he and his wife will consider in the future. In addition,
he did not mention if he owed anything on his vehicle or vehicles. These
debts would also need to be considered when make a decision regarding
a loan especially with a low credit score.
Below is a breakdown of her loan request from her submitted
information;
Principal:
$25000
When Needed: Like most people I guess we need the money
yesterday. Our credit card payments are due within 5 days and we have
emergency repairs to our home to contend with.
City: San Jose, California
Zip: 61616
Employment: Auto mechanic
Credit Score: Not good, currently I have a 400 credit
score due to missed payment and credit card balances.
Income: $3670 monthly
Comment:
Our
problems started when I had an accident at work and had to go on disability
for 4 months. Basically I was off work for the entire time and could
not work. Although I was covered by disability payments, the amount
I was paid was not close to what I would normally earn in a 40-hour
week.
We cut back on expenses during this time frame but it was not enough.
Then there were the medical bills. Although the accident happened at
work and they paid for almost everything, there were some expenses that
we had that the insurance just would not cover. With more time on my
hands I also spent more money as well which did not help us financially
at all.
The bottom line is that my wife and I incurred credit card balances
that we could not pay on time which in turn triggered high interest
rate charges which just make the problems worse. We have about $25000
in total debt in addition to our mortgage. We would like to consolidate
everything into one monthly low interest payment to improve our cash
flow and let us get back on track.
The problem is that during this time we failed to make some monthly
payments which in turn really hits your credit score. Combined with
what we owe on credit and our payment history, our credit score is now
down to 400. We have tried borrowing money from our bank, but they do
not offer what they consider to be high risk loans. They will not consider
any loan application from us.
Now we have an emergency repair to our home that is required. The roof
starting leaking and we are told that it will cost almost $10000 to
replace the roof.
What can go wrong next?
The good news is that I am back to work and also putting in extra hours
to try and make more money to pay towards our monthly bills and also
pay down our debt. It will take a long time to pay off this debt at
the crazy high interest rates we currently have.
Anything
below the 21% that the credit cards are charging will save us money.
If I can find a loan to consolidate my debt at a lower interest rate,
we will be able to pay down the debt more quickly.
We are looking for any help and suggestions that can be provided. We
are trying to get back on our feet financially. I am working overtime
at my job as much as I can and my wife is cutting back on expenses as
well. Can you assist us?
If you live in the San Jose CA and you
need a loan regardless of a bad credit rating we hope our website helps
you in some way.
Sincerely,
Andy Somerset

Andy
Somerset is the son of Lance Somerset who founded the We
Find Lenders Pool. He writes for WeFindLenders.com whenever he's
not working hard on his degree in finance.
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Employment & Education Advancement
Opportunities in San Jose CA
If you live in San Jose and you're
struggling with making ends meet, you may consider advancing your education
and/or finding a higher paying job. We've provided some links here to
help with that.
Job Upgrade: Indeed
/ Monster
Education Advancement:
College / University
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Credit Counseling
In San Jose
Tap image
for larger interactive map.
Debt Doctors Credit Counseling
111 N Market Street, San Jose, CA 95113
(408) 675-5300
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San Jose Credit Repair & Counseling
88 S 3rd Street, San Jose, CA 95113
(408) 705-4947
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A Better Credit Service
1885 The Alameda, San Jose, CA 95126
(408) 564-0316
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Federal Resources
FTC
Budget PDF / USA.GOV
Debt Info
San Jose Assistance Programs
Food Bank: Second Harvest
Food Bank / Address: 4001 North 1st Street, San Jose, CA 95134 / Phone:
408.266.8866
Hot/Cold Meals: Loaves
& Fishes Family Kitchen / Address: 1534 Berger Drive, San Jose, CA
95112 / Phone: 408.922.9085
Shelter In Case of Eviction:
Home First / Address: 2011 Little Orchard Street, San Jose, CA 95125 /
Phone: 408.294.2100
Social Assistance Programs:
Santa Clara County Social Services / Address: 1919
Senter Road, San Jose, CA 95112 / Phone: 408.758.3100
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Usury and
Regs. Governing San Jose
California
DOB Website / California
Usury Law Codes
Summary of California Usury
Law(s) / Legal: 7% Contract: 10% for personal,
family or household purposes or any other purposes / Judgment:
10% / file
an online complaint, or learn more about the legal code(s)
applicable to the State of California view
our California State page.
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WFL
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