I'am on unemployment and just discharged from bankruptcy in March 09'.
Are there any companies/banks that would give me a loan ? I need it for training for a school to get my CDL .They offer classes for $1500.00 for a minimum month course to $4000.00 for a advanced course.
So I would need a loan for either $1500.00 to $4000.00 .
I have around $600.00 for a "down payment" and Iam guaranteed money through unemployment and have cut back on expenses to have extra money every month , around $150.00 to $200.00.
I only have rent and utilities to pay , no other loans or anything.
I could just save up but I need to do this ASAP , not 4 or more months from now.
Am I S.O.L. ? Or is there hope ?
Thanks
I'am in Illinois
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there are several route I would suggest for you,the first and best would be to open an account in your local credit union...this allows you greater access to a loan especially if this is where you put that extra money you spoke of! the more active your account the more likely they will be to loan you your money! They also offer better rates as they are not held under the same laws as the big banks.# 2 would be a student loan,as long as you've never defaulted on one before you're in! You seem to be working hard to keep your credit clean and most banks will see this! Also most banks love discharged bk's because you can't do it again for a while...so you've got to keep your nose clean and they know it! Just make sure you check the schools accreditation's so you don't get burned! Finally yes unemployment benifits are absolutely counted as income...it also proves an employment history! Best of luck man
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Unemployment benefits are NOT proof of income! Proof of income is a job. Unemployment is not a permanent job! Look, if you think unemployment is an income, walk into a bank and tell them that when you fill out the application, and see what they say. Bet they tell you to come back when you have a job!
Doesn't the school you are wanting to attend have some sort of financial aid?
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You cannot collect unemployment and go to school at the same time, That is against their rules unless it is like one day a week. you might be able to get a student loan, and it you wouldn't have to pay it back untill you are out of school.
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I very much doubt you would get a loan when unemployed, how would you pay it back? They need to see that you have an income.
Could I get a loan on unemployment ?
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