Bad Credit Application

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This is the pre-app submission page for – we thought we would tell you a story about a borrower and her story just case you want to read something after you submit your loan application. Enjoy!

The information below was used with permission from a borrower who used our loan approval system. As part of our agreement, we promised not to mention her location, her employer, or her last name. Protecting the privacy of our users is a very BIG DEAL for us @

Shelia’s Story

Shelia was down on her luck. She had a really bad credit score of 400 and it looked like there was no hope of getting approved for a $10000 loan. Well not any time soon. That’s the exact words the loan officer said at the last credit union she applied with.

She wanted $10000 to pay off some high interest debt she had accumulated the last 2 years. Her credit was damaged for a few different reasons.

  1. She had been overspending
  2. Her earnings per month had shrunk
  3. She was in a car accident that cost her a lot of money

One of the biggest things she admitted was her lack of self control with spending. However, that wasn’t the biggest contributing factor causing her temporary financial predicament. Some of it was just plain bad luck, and there’s nothing a person can do about that.

So there she was. Behind on almost every account she had. Her cell phone bill was overdue, her car payments were behind, her electricity and landline were behind on payments, and worst of all her stupidly high interest rate credit cards were ballooned up in the stratosphere.

If you’ve been doing the math as your read this you’re most likely asking, “Hold on a minute girl, that sounds like a lot more that $10000 in debt!”

Well it was more than $10000. Luckily for her (and unluckily) one of her older generation family members had passed away leaving her close to $25000 inheritance. She was always the apple in her Uncle’s eye so he willed her this $25000 from his sizable estate. She used that money to pay off her medical expenses and a couple department store credit cards.

But even after that stroke of bad/good luck, she had around $10K on credit cards, utility companies, and phone companies combined.

Approved $10000 Loan With Bad Credit

She made the same mistake so many of our visitors make when they’re seeking loans or lines of credit. She didn’t understand how her credit score was being ruined to the point of obliteration due to applying with all the local banks in her city. She tried getting approved with the PNC bank, Wells Fargo, Bank of America, and three local credit unions!

Ouch. That’s really bad for your credit rating, and obviously part of the reason why her FICO score dropped down into the 400 range.

Devastating. And the sad part is she was finally informed of this reality when she was talking to the loan officer at a credit union. She was angry that the PNC, BOA, and Wells Fargo loan officers didn’t tell her that. Maybe they don’t want to discourage potential borrowers from applying. That’s a cynical thought, but who know these days how the big consumer banks think. Who knows what schemes their backroom strategists and marketing people are cooking up. I mean they’ve all proved over the last 5 decades that their priority is making gobs of money – certainly not doing business in a way that’s honest and up front.

OK, I’m getting off track here – I’m feeling a rant coming on again. Unfortunately you get cynical when it’s seems every financial institution is a predatory lender. Let’s get back on Shelia’s story shall we.

Yes. Now her FICO score was a horrid 400, and as far as she could tell there was not a chance in debtor’s hell she was ever going to be approved. All she wanted was a second chance to get a fresh start and pay off all her debt. A clean do over with open skies to look forward to.

Hello WFL

Since she was having absolutely zero luck with the banks and credit unions in her service area, she did was ALL of our visitors do and she began researching and hunting for legitimate lenders online. Woah! Now were wading into some seriously dangerous territory.

The Internet is ripe with payday loan companies, cash advance companies, pawn shops, and outright fraudulent individuals who make money taking advantage of people like Sheila. Some of these people who are deep in debt with bad credit scores get so emotional and desperate that fall hook, line, and sinker for their bogus offers.

To Sheila’s credit she never took the bait with these predatory lenders. She kept looking online for a company, private lender, or lending institution that would take her seriously and give her a loan based solely on her employment income. After all, she worked full time for a medical supplies company and had a decent income of $2500 a month after deductions.

She is an honest person and had already really cleaned up her act. She was no longer using her credit cards for anything except necessary purchases (gas, vehicle costs, food, rent, and clothing). She wasn’t spending cent on partying, shopping, or going to the bar. She realized how she got where she was and had already corrected her costly lifestyle.

She just needed to find a lender who recognized that. A lender that trusted her like her friends and family do. A lender that believed in second chances and willing to approve a $10000 with much lower APR than Visa, American Express, and MasterCard.

During her online searches she found one of our initial websites that Lance and his wife (the founders of had started. She loved their system whereby she could apply with hundreds of legitimate lenders at once WITHOUT hurting her credit rating further.

So she tried it.

She submitted her pre-application form and waited for an email from a legitimate lender in her service area. Someone willing to lend money to people with credit scores as low as 400 like hers. On her first pre-app she didn’t hear back from a single lender, and that really frustrated her. But after a week of not hearing back, she submitted another application and she got two emails back. Both lenders could provide loans to people in her area and she spoke with both of them on the phone. She chose the best offer with an APR of 12% (much lower than her credit cards at 23%) and she was funded for a debt consolidation loan in 3 business days from the time she submitted her second pre-app.

She had to prove her income and show her credit card statements proving she wasn’t overspending anymore, and she had to sign an agreement that stipulate penalty fees for late payment or defaulting. Fair enough.

Her lender was a private company and not a big bank or credit union. The work closely with people that have every kind of credit score under the sun. These are exactly the kinds of lender we hunt down so we can give them access to our system.

Thank you for stopping by Learn about our unique process for approving bad credit applicants here.

INSTRUCTIONS: Please fill ALL fields in form. Your loan application is secure and private.

“Just a quick big thank you to everyone at WFL! THANK YOU SO MUCH! I got approved with a credit score below 600 and I had 2 offers emailed to be from lenders within 1 day of applying.” – Munroe Thoen (Birmingham Alabama)

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