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13 Month No Collateral Loan Of $56000 With A Bad FICO Credit Score Of 499

There are a lot of options for a collateral loan with bad credit.  The size of the loan available will depend on your credit and employment history. The term "bad credit" is also relative to the lender. A bank may consider a bad credit score 650 when an online lender considers a fair credit score a 580 score. If your credit score is 450 to 580, you fall into a very limited area of bad credit loans where the maximum loan amount may reach $5,000 with no collateral. We have provided a list of lenders for as many bad credit loan scenarios as possible. For example, you may have a small business where bad credit loans start with a 500 credit score or you may have access to some form of security like your car or home. As we are all in a different financial position, we have tried to accommodate as many possible bad credit loan options.    

Unsecured Bad Credit Loan Providers

A bad credit loan definition is referring to a credit score. When a credit score is below 580, this is typically referred to as bad credit. If your searching for a loan with a credit score below 580 without collateral, you are applying for an unsecured bad credit loan.

What you can expect when you apply for a bad credit loan: 

  • Loan amounts normally do not exceed $5,000
  • The term of a bad credit loan is much shorter with the longest around 36 months 
  • Interest rates will be much higher with some starting over 25%

Best Secured Bad Credit Loan Options

Most lenders are looking to provide money to people with security. The lenders want their money to be protected with your assets for collateral. If you do try to apply for a loan with bad credit, having security can go a long way. Security refers to the equity in your home, refinancing your vehicle or finding a co-signer. The lender will place a lien against your asset to secure the loan. Even when you are using security, it can be difficult getting aa secured loan. Lenders still check your payment history as they do not want to risk having to repossess your assets. If you are planning on using security to secure your loan, you are risking the possibility of losing your assets if you default on the loan payment.

Secured Home Loan Options

Home Equity Loan or Home Equity Line of Credit (HELOC)

A home equity loan or home equity line of credit (HELOC) provides an excellent way to consolidate debt even with bad to fair credit score. The home equity provider we have listed has consolidated over 1,500 companies to give you the greatest chance to qualify for a loan.  When you have good credit and the bank looks to provide a home equity loan or HELOC, they will normally finance the property up to 80-90% of the loan to value. The loan to value is the difference between the size of the mortgage and what you will get if you sold the property. With bad or fair credit, the loan to value may drop to as low as 60 to 70% and the interest rates may be higher. This will mean that the amount they are willing to lend will be lower.   

Secured Auto Purchase and Refinance

LendingTree offers hundreds of auto lenders that will help you buy the new car or refinance your existing vehicle.  This can be a great way to get capital out of an asset. This provider can refinance your vehicle and get your capital back to you.

Bad Credit Auto Financing

If you are searching for an auto loan up to $45,000, look no further.  This auto loan provider specializes in auto loans for any credit score. Give them a try today. Auto loans -- Bad Credit? No Credit? No Problem!


Asking your Family or Friends

Once you’ve reviewed the bad credit loan offers, consider offering the same interest to your family members with some form of security.

Personal Loan

An unsecured personal loan is a great solution if your credit score and credit history meet the criteria of the lender.  We have listed personal loan providers with credit scores starting at 620. This lender group offers loans ranging from $1,000 to $100,000. When banks consider a 620 credit score a high risk, online lenders are happy to receive your loan application.  

Co-Signing or Joint Signing

FreedomPlus specializes in co-signing with loans up to $40,000. If you are considering co-signing or asking someone to co-sign, we have provided information that explains the pros and cons of co-signing.

Business Loan Refinancing

We have added a number of business loan providers that will look at a debt consolidation loan with credit scores starting at 500. Some conditions apply including the time in business and gross annual revenues.

Free Credit Score Repair

Novita offers a free service credit score rebuilding program 

Research your Credit Score and Credit History

It's always a good idea to check your credit score and credit history before applying for a loan. Look through the report and check and see if you agree with everything on the report. If you disagree with the information on the report, contact the credit bureau and let them know that there is an error.

Lexington Law

Lexington Law helps consumers repair errors on their credit report. 

Unsecured Payday Loan Debt Consolidation: $500 to $5,000

Consolidating payday loans with 400% to 1500% interest rates will save you money. OppLoans offer an installment loan which provides equal payments over a set period of time to get rid of payday loans.

Reverse Mortgage Options

Debt Relief or Debt Settlement

Another option to consider debt relief or debt settlement. They can help you work with creditors and will explain your options. You can call them at the number below or click this link to go to their site now. 

Bad Credit Loan Request looking for $56,000 with a 599 credit score

Fondo and I are looking for $56,000 to repair a house we just purchased. Our construction business has been operating for 9 years and we are now doing about $650,000 in annual sales. My credit score has taken a beating over the last 5 years with the ups and downs, but things are really turning around for us. We are looking for a no collateral loan. My credit score is not good, so hoping we can use the revenue from the company to secure the loan?

Fonda had an Equifax credit score of 499, regarded as a bad credit score

Fico Score: 499

Fonda had a Transunion score of 480, considered to be a bad credit

Transunion Score: 480

Using the Experian scale, Fonda has a bad credit rating of 515, that will have altered their loan interest

Experian Score: 515

Fonda originally started by inquiring for this no collateral loan using this information

My name is Fonda from Mountain View, Oklahoma. My credit score is 499 with FICO and my Experian rating is 480. I would consider financing with interest levels between 11.0 to 20%. Is there any online loan lenders that you can recommend with bad credit?

Client Information: Fonda
  • County: Kiowa
  • Home State: Oklahoma
  • Current zip code: 73064
  • Current income: undisclosed
  • Profession: Contractor
  • Credit Card Debt: $0 on their UBS Visa Signature® Credit Card

While the articles described are real, the names and some locations have been changed for privacy. We would value your input on our website. Please do not give America Loan Service your last name and try to keep the information in your testimonial quite general. It is the overall topic that everyone relates with and we appreciate your comments. When you send your story, it will be reviewed within 24 hours and you will be notified if they are used.

Past Applications

Application from: Walther

City: Fort Wayne
State: Indiana
Credit Rating (FICO): 464
Profession: disabled students teacher
Amount Requested: $3000
Age: 24
Current Debt: 69,000
Yearly Income: 50,000
Zip Code: 46802

Message:

hi my husband was in a hospital. our health care only paid part of the medical bills. he are unable to work. We were able to get a personal loan at a fairly high rate. With my other bills I are behind in our payments I would like we could get a personal loan to help pay the extra costs. we would would like information on what is availabel to help


Reply to: Walther


Application from: Jacquline

City: Salt Lake City
State: Utah
Credit Rating (FICO): 555
Profession: truck driver
Amount Requested: $188000
Age: 58
Current Debt: 17,000
Yearly Income: 84,000
Zip Code: 84121

Message:

Daughter wants me to get a private loan since I screwed up and i messed up with bad people. I have to pay bills and I so far behind. Please give aid us to get a private loan for $188000. no others who'll assist in Salt Lake City, Utah.


Reply to: Jacquline


Application from: Casha

City: Kalamazoo
State: Michigan
Credit Rating (FICO): 354
Profession: highway maintenance worker
Amount Requested: $34000
Age: 34
Current Debt: 44,000
Yearly Income: 52,000
Zip Code: 49007

Message:

credit score is not bad. needing a loan to get a new fridge thx for info on lenders


Reply to: Casha


Application from: Aubrey**

City: Statham
State: GA
Credit Rating (FICO): 499
Profession: Cook
Amount Requested: $25000
Age: 22
Current Debt: 19000
Yearly Income: 14000
Zip Code: 30666

Message:

Hi Aubrey,

We emailed you our recommendation. We suggest that you go to our debt settlement page and work with professionals to get your debt in order.

Good luck.


Reply to: Aubrey**


Application from: Tonyah Johnson

City: Baltimore
State: Maryland
Credit Rating (FICO): 499
Profession: Mental Health
Amount Requested: $5000
Age: 45
Current Debt: 10000
Yearly Income: 45000
Zip Code: 21206

Message:I am in need of immediate funds while I await the dispersement of my Net 30 invoices from my business. My 70 year old mother was in a rehabilitation center for advanced lung disease and strengthening for months. Finally she has been discharged to my home and care but although she has 2 health insurances, neither are covering her needed medical equipment although she has had significant changes in her health in the last 5 years. Her hospital bed is inoperable. She's totally blind now and unable to use her Hoveround. Just 2 examples. Because of her recent blindness, she also requires 24/7 supervisor so I have to pay to supplement her home nursing and personal care services. I have anticipated funds expected by the end of December but she needs these items and others right now. My credit score is a result of a long and challenging divorce process. I am currently working with a company to help repair and improve.

Reply to: Tonyah Johnson


Application from: Mariaelena

City: Houston
State: Texas
Credit Rating (FICO): 827
Profession: forensics psychologist
Amount Requested: $128000
Age: 41
Current Debt: 48,000
Yearly Income: 24,000
Zip Code: 77036

Message:

I live in Houston Texas and am on sick leave from work. I need cash to purchase a fridge My credit could be better - I think it is 580. I want anywhere from $5,000.00 as soon as possible. I have applied to a few banks and they won't help.


Reply to: Mariaelena


Application from: ERIKA BRACAMONTE

City: SACRAMENTO
State: CA
Credit Rating (FICO): 499
Profession: Profession not given
Amount Requested: $500.00
Age: 26
Current Debt:
Yearly Income: 24000
Zip Code: 95823

Message:

Reply to: ERIKA BRACAMONTE


Application from: ERIKA BRACAMONTE

City: SACRAMENTO
State: CA
Credit Rating (FICO): 499
Profession: Profession not given
Amount Requested: $500.00
Age: 26
Current Debt:
Yearly Income: 24000
Zip Code: 95823

Message:>Hi Erika, Nice to hear from you and happy new year. Although your credit score is only 599, you do not have any debt and you are earning $2,000.00/month. We will email you al ender that may be able to help you. All the best in 2017

Reply to: ERIKA BRACAMONTE


Application from: Cherinda Thompson

City: Longview
State: Texas
Credit Rating (FICO): 499
Profession: Nurse
Amount Requested: $20000
Age: Age not given
Current Debt:
Yearly Income: 54000
Zip Code: 75603

Message:

Reply to: Cherinda Thompson


Application from: scott

City: hawthorne
State: ca
Credit Rating (FICO): 594
Profession: uld sorter for fedex
Amount Requested: $6000
Age: 46
Current Debt: 3300
Yearly Income: 44876
Zip Code: 90250

Message:I need the 6000 to get rid of this loan that is charging me 135% interest for 3 more years. Plus I live in a motel and need transportation and an apartment .

Reply to: scott


Application from: Tonyah J*

City: Baltimore
State: Maryland
Credit Rating (FICO): 499
Profession: Mental Health
Amount Requested: $5000
Age: 45
Current Debt: 10000
Yearly Income: 45000
Zip Code: 21206

Message:I am in need of immediate funds while I await the dispersement of my Net 30 invoices from my business. My 70 year old mother was in a rehabilitation center for advanced lung disease and strengthening for months. Finally she has been discharged to my home and care but although she has 2 health insurances, neither are covering her needed medical equipment although she has had significant changes in her health in the last 5 years. Her hospital bed is inoperable. She's totally blind now and unable to use her Hoveround. Just 2 examples. Because of her recent blindness, she also requires 24/7 supervisor so I have to pay to supplement her home nursing and personal care services. I have anticipated funds expected by the end of December but she needs these items and others right now. My credit score is a result of a long and challenging divorce process. I am currently working with a company to help repair and improve.

Reply to: Tonyah J*


Application from: Courtney*

City: Mobile
State: Alabama
Credit Rating (FICO): 499
Profession: Profession not given
Amount Requested: $5000
Age: 33
Current Debt:
Yearly Income: Income Not Specified
Zip Code: 36617

Message:Really need to pay this bill

bad credit personal loan options


Reply to: Courtney*


Application from: Martisha

City: Bronx
State: New York
Credit Rating (FICO): 499
Profession: Profession not given
Amount Requested: $60000
Age: 23
Current Debt: 18,000
Yearly Income: 36000
Zip Code: 10461

Message:

I need this loan as soon as possible. I have a lot going on and I don’t want my 5 year old son to go through this at such a young age. He deserves a stability lifestyle.


Reply to: Martisha


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