At this point in my life I am a young professional in the up and down business of Theater. I have managed up until this point to accumulate no debt, until the purchase of my car 6 months ago, but I also have little to no credit history as a result. I was always told when I was in college that having a credit card would only put me in a serious financial hole, so I never got one. Being in theater means I have work seasonally and have a new employer ever 4-9 months, even if I return to the same location two years in a row I had to work elsewhere in between. It also means I move on a regular basis, and theater is not a really well paying job but I love what I do. Now because of a new job I need to move to Massachusetts and I have no real savings to be able to pay the 2000-3000 dollars for First/last and security deposit on a new apartment. I have never been late on any bills in my life but now I have no money to make this very important move, and no one around me who can help me out. I want to get a personal loan but I’m afraid with the way my lifestyle and work history is and my current lack of a strong financial history no bank will lend me money.
Is there any hope of me getting a personal loan? Will talking to a representative make me look less invisible or less of a danger in the financial world? Are there other alternatives? I don’t have a credit card to take out a cash advance on.
I’m not trying to fix a huge financial debt I’m just looking to not be homeless.
Yours is a classic reason why building good credit can be very beneficial. I’ve written a guide to help people build credit and the process works.
The only real hope for a loan as you describe seems to be from LendingClub.com. LendingClub.com is a peer to peer lending network where consumers lend to consumers and cut the baks out of the loop. The requirements for getting a loan are a little relaxed but you’ll still need decent credit.
It is well worth exploring, especially in your situation which is a little out of the norm and would probably result in an automatic rejection from a Main Street bank..
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.