Does anyone know of any companies that will loan money to military who have bad credit?

2020-02-15T11:59:31-05:00

Does anyone know any loan options that help build credit and help for temporary financial assistance that works with the military?

Response by Capt Brandon Charters made Feb 15 at 2020 12:21 PM

2020-02-15T12:21:51-05:00

LTC Steve Mannell& 2d Lt Cinthia W. might have some advice here

Response by CPT Private RallyPoint Member made Feb 15 at 2020 12:52 PM

2020-02-15T12:52:57-05:00

I used pioneer military loans when I was enlisted. They are a pretty solid company.
All In all, they are no replacement for wise money management though. Talk to a financial advisor over at acs and make a good gameplan.

Response by SFC Casey O'Mally made Feb 15 at 2020 2:16 PM

2020-02-15T14:16:18-05:00

DANGER!!! DANGER, WILL ROBINSON!!!
There are a whole lot of folks who will line up to give you money. They'll only charge 150% interest, too! They see that you have a (more or less) guaranteed paycheck for the forseeable future, and that you are young and (presumably) naive. Predation commences.
Seriously, read the fine print, don't accept an offer on the spot, take an NCO with you, if you can, even bring the contract by the legal assistance office.

Response by SPC Richard Zacke made Feb 15 at 2020 8:11 PM

2020-02-15T20:11:09-05:00

You did'nt mention just how bad your credit is but if I were you I'd give Quicken Loans or Rocket Loans (same company) a call. Everything is done on-line and they even come to your home for the closing...they brag about loving the military...I'm 100% TDIU and I'm damn glad they called me. Althought I have a 750 credit score they got me from a loan that was 5.25% to a loan that is 3.25%...I went from just over $1200 a month to $879....thats three benjemins a month in my pocket. Good luck SPC Private RallyPoint Member and work on that credit...looks like your married or getting and credit will be your most important comodity!!!

Response by CWO3 Private RallyPoint Member made Feb 16 at 2020 4:51 AM

2020-02-16T04:51:15-05:00

Buyer beware. Consider a debt consolidation and credit improvement first. Repair FICO score and try again. otherwise you'll be upside down fast with the vigorish. Plenty of info online.

Response by SSgt Private RallyPoint Member made Feb 18 at 2020 10:15 PM

2020-02-18T22:15:35-05:00

look into a short term TSP loan, it's a loan of your money, the interest set at G fund at time of lending goes back into your account, payment is made by allotment so you can't miss a payment. Is reported to help your credit. Eligibility is based on time left on contract not credit score.