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$8000 Dollar Installment Loan For Bad Credit – Boise ID

This writer lives in Boise ID and is looking for an $8000 dollar installment loan for a bad credit situation. He was quite up front about his bad credit and how he ended up with bad credit. There is nothing wrong with this approach since the lenders would find this out anyway without the benefit of the history of how they ended up in this situation.

They both fell sick, were off work for awhile and had to set priorities with regards to what bills they paid. Their credit rating sank and now they are having difficulty being approved for an installment loan. The debt is credit card debt and the interest rate they are being charged on the over due balance is 21%. It takes a long time to repay a loan with interest rates at this level.

He is hoping to be able to be approved for an installment loan with lower interest rate. He knows that he will still need to pay a higher rate than more credit worthy customers. Even if the rate is 15%, it is still 6% below what he is currently paying. The money he saves will be used to repay the loan more quickly. They are anxious to repay the loan and also show that they are actually good credit risks.

It will take a few years to demonstrate that they are a good credit risk. They need to show that they can pay their loan payments on time without any late or missed payments. It is easy to lose your credit rating and much more difficult to regain a decent rating. Lenders are always very cautious when it comes to lending money to bad credit customers.

This potential installment loan customer also needs to supply some additional information to support his application. Never the less, he should be approved for an $8000 dollar installment loan at an interest rate that will be better than the rate he is currently paying. If he does what he plans to do and uses the savings to repay the loan more quickly,  he should have an easier time with his next loan application.

Consumers experience various emergencies all of the time. This client demonstrates why it is so important to always have an emergency fund available to pay for emergency repairs, out of work situations and other surprises that life throws at us from time to time. In addition to repaying the loan more quickly, he should also consider building up an emergency fund that is equivalent to at least 6 months of income. If he can do this, he will be able to sustain his family and pay all of the bills for 6 months while he looks for a job or deals with some other major problem.

Once he provides some additional financial information, his application will be reviewed by lenders for potential approval.


Home/Mortgage Loan Amount : $8000

Home Loan Application and Processing Speed (when do you need the funds): I need to be able to repay my wife’s credit card debt by the end of the week, so approval should be within 24 hours.

Do you currently have a mortgage? : no, we currently rent a town home

Bank Name and Branch : Key Bank,W Idaho St

What City/Town, State and County do you live in? : Boise, ID

Zip : 83702

What is your employment field? : Auto repair and maintenance

Employment Position : Oil change technician

When are you paid? (monthly/weekly/biweekly): bi-weekly

Your credit rating to be – excellent, fair, or bad? : we have a bad credit rating

How did you find us? : looking online for an installment loan with a bad credit rating

How are you paid? (direct deposit/paper check): Direct deposit

Gross Amount Per Paycheck : $1200

Do you agree to have this information published online, without your PRIVATE information of course? : Sure no problem, maybe my situation will help other people who are in the same situation as we are

Extra information here please (some detail): ok, my wife and I have a bad credit rating. We have not been great at paying our bills on time due to an illness and job loss last year. We were both off work for almost 6 months and just did not have enough money to pay all of our bills. We paid our rent and utilities and that’s about it. It did not take long until our fair credit rating dropped into the bad category.

If your wondering why I am including all of this on an application, we both think that we might as well as explain what happened. Your going to see the bad credit rating anyway. It is better to be up front about it and also the action we took to deal with our overdue debts.

Both of us have recovered from our medical issues and now have jobs. They do not pay a lot but we can pay the bills including working at paying down the debt. We are not trying to avoid paying our debts. We fully plan to repay everything, but we thought we could use a little help if we were paying a lower interest rate.

The interest rate we are paying on credit cards right now is around 21%. This is really high and we are hoping that we can get an $8000 debt installment loan with a lower interest rate. The money we save on interest will go directly towards the loan. In fact we can keep the monthly payments at the same level they are now, with more principle going to repay the loan and less to pay interest.

We are also hoping that once we show we can meet all of our debts and pay the debt installment loan in full, our credit rating will improve. With bad credit we know we are not going to be approved for a loan with really low interest rates. We want to be in that position in a few years. Right now we would just be happy with a lower interest rate than what is being charged on the over due balance on our credit cards.

Can you help us with these issues?


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  1. Donald wrote:

    A few years back my wife was diagnosed with HER2 Breast Cancer. She underwent some harsh chemo treatment for a year and a half and a double mastectomy which so far has her cancer free, but left us struggling financially. We had two in college at the same time as her cancer which made everything really difficult. I have always had a full time job and I work overtime to try to bring in more, but my wife has been put on disability now. We are needing about $10,000 in order to consolidate some high interest bills and try to make life just a little easier. Thank you for your consideration.

  2. Chris wrote:

    I am refinancing my mortgage. Need to payoff $23k in debt to raise FICO score enough to qualify with 700+ FICO. I need $20k with no credit check and no new trade line added to my credit report. Will payoff debt and do rapid rescore to get to FICO 700+ and close on my refinance within 30-45. I will then re-pay the $20k loan upon closing immediately. Can any lender out there help with my loan need without doing hard credit check and without establishing a new trade line on my credit report. Again, this will be a short-term loan between 30-45 days. Thank you for your consideration.

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