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$25K to $40K Personal Loan for Knee Operation – Bad Credit in Oakland, Piedmont, San Francisco Bay, CA

This applicant lives, works and supports his family working two jobs in the San Francisco/Oakland Bay area. He is applying for an unsecured loan anywhere from $25,000 up to $35,000, but as you will read, the recommendation was that he get a personal loan for more – $40K.

This recommendation is based on his current DTI, his marital status, employment status, and recent FICO score check.

This borrower/applicant tells us in some detail why he needs this loan, and we get real life true applicants telling heart wrenching stories like this all the time. For I won’t even bother writing about borrowers unless I feel for the applicant in some way.

It is getting so hard for people in America these days as the rich line their pockets even further. Anyway, more on this loan request.

Reason Why Applicant Needs Unsecured Loan in Oakland, San Francisco, Piedmont for $40,000

The reason this hard working family man needs this loan is not because he and his wife are irresponsible with their money – in fact, considering how much they are dealing with in medical bills, and keeping their children clothed, fed, and cared for, you would think their debts to creditors would be much higher. They are being relentlessly pursued by a hospital for money from his knee operation that was an emergency. His insurance company has refused to pay him the total amount for the cost of the procedure, and therefore he wants this personal loan to pay it off, and get it behind him. NOTE: The ONLY reason they have bad credit scores is because the Knee Surgery Clinic in San Francisco has destroyed his credit rating – all other creditors (credit card companies) have always gotten their minimum payment on time. They have never missed a payment on their Visa cards and American Express cards.

So here is the application form from our poor applicant, protecting his privacy of course (as usual for CLF). We delve into the math on this loan below the application form, to show his monthly payment on a loan agreement of $40,000 – unsecured, and with his LOW FICO taken into account. So much for fair!!!!

Personal Loan Applicattion:: $25,000 – $30,000 – $40,000 Unsecured/Bad Credit Oakland/San Francisco/Piedmont

Personal Loan Application and Processing Speed :: Medium speed please – Within two weeks if possible.

What do you need this loan for? :: To pay of credit card debts and surgery on my knee. I have a really bad knee that has to be operated on as well because my insurance company will only pay for part of the total cost. I live in Piedmont actuall which is East of Oakland, Ca. I commute to San Francisco 5 days a week for work, and it’s been a real struggle because of medical reasons. I can’t keep up the pace of living and earning so little money AND suffer the pain of the bad knee every step of the way.

I have to find some kind of financial relief soon or I think I am going to lose what’s left of my mind. It’s been really stressful for my wife and I as we raise our 4 children, who are; Amy (3), Mark (5), Julie (1), and Sandy (7). My wife Rosy and I are at our wits end and she can’t work because she has to look after the kids all day and night, while I have two jobs to try and make ends meet.

Employment Status for Applicant – Unsecured Loan in Oakland, San Francisco, Piedmont for $40,000

I have a full time job in San Francisco working as a warehouse dock worker, which I have been working at since I was 17 years old. I am 35 now and my poor body is pretty well shot to hell. Bad back, bad knees, and one really bad ankle on top of all that. When I’m finished work in the Bay, and commute back home to Piedmont, have some food, a half an hour rest, and then I travel to Oakland where I work in a Blockbuster Video, at the 3300 Lakeshore Ave. location.

I really need the help of an understanding bank that will see how hard I work to put food on the table, and will realize that keeping these two jobs means I can afford to make the payments required for the loan. My wife and I have taken out the calculator many times and we KNOW we can afford to make monthly payments of $650 maximum. I looked online for a calculator that calculates my debt-to-income-ratio, so we know this to be true math.

What City/Town, State and County do you live in? :: Oakland, California (Alameda County)

Zip :: 94603

What is your employment field? :: Warehouse Dock Worker

Employment Duties ::

  1. Receiving and Stocking Shelves
  2. Tracking Merchandise
  3. Picking/Packing Orders
  4. SKU Labeling
  5. Bagging
  6. Inventory
  7. Cleaning

When are you paid? :: Monthly (last Friday of the month)

Your credit rating to be – excellent, fair, or bad? :: Terrible credit because of medical bills and missed work.

How did you find us? :: Searched Google looking for loans in California for people with bad credit.

Bank Name and Branch :: Community Bank of the Bay (1750 Broadway Branch)

How are you paid? :: Direct deposit

Gross Amount Per Paycheck :: $2,480 a month. I make $15.50 per hour right now because I just got a raise.

Do you agree to have this information published online, minus your PRIVATE information? :: Yes, as long as my wife and kid’s names are changed.

Bad Credit Unsecured Loan in Oakland, San Francisco, Piedmont for $40,000 – APR Concerns

Any extra information here :: I can only afford an interest rate of 12% at the highest, but really want the loan terms to have an APR of lower than 9% if possible. Are there lenders that will loan to people who have bad credit at a rate lower than that?

I can provide employer history and pay stubs reaching back 10 years if you have to have that kind of information. My part time job is solid to regardless of what the news says about the fate of Blockbuster.

Note to Lender from Staff :: We would like to move this all as fast as possible to the various lenders and private banks in the Frisco Bay area, and Oakland Bay area. This applicant has provided a massive amount of information regarding his living, marital, and employment status, and we at CLF believe he could be approved for a personal loan for as high as $40,000 over a 5 year term. Below is the calculation we believe would make work for the lender and the borrower in this case.

Loan Calculation for $40,000 Dollars – Bad Credit Loan in Piedmont, San Francisco, Oakland – Knee Surgery

Principal Loan Amount = $40000
Interest Rate = 9.3%
Payment frequency = Monthly
Length of term = 5 years

Results of Calculation

Total Paid: $49,453.23
Total Interest $9,453.23
Payments: $812.93