Posted on Feb 15, 2020
Does anyone know of any companies that will loan money to military who have bad credit?
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Does anyone know any loan options that help build credit and help for temporary financial assistance that works with the military?
Posted in these groups: 
Finance
Finance
Posted 5 y ago
Responses: 6
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DANGER!!! DANGER, WILL ROBINSON!!!
There are a whole lot of folks who will line up to give you money. They'll only charge 150% interest, too! They see that you have a (more or less) guaranteed paycheck for the forseeable future, and that you are young and (presumably) naive. Predation commences.
Seriously, read the fine print, don't accept an offer on the spot, take an NCO with you, if you can, even bring the contract by the legal assistance office.
There are a whole lot of folks who will line up to give you money. They'll only charge 150% interest, too! They see that you have a (more or less) guaranteed paycheck for the forseeable future, and that you are young and (presumably) naive. Predation commences.
Seriously, read the fine print, don't accept an offer on the spot, take an NCO with you, if you can, even bring the contract by the legal assistance office.
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MAJ Ken Landgren
Solid advice. Bad credit = high interest rate. What are you wanting to buy? Be very cautious as the federal government has loosened regulations in favor of those who loan money. I suggest you look at:
https://www.myarmyonesource.com/familyprogramsandservices/financialreadiness/default.aspx
https://www.myarmyonesource.com/familyprogramsandservices/financialreadiness/default.aspx
military loans, military scholarships, financial assistance, financial services, military discounts, financial services, financial assistance, financials, assistance financial, military financial help, loans for military
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look into a short term TSP loan, it's a loan of your money, the interest set at G fund at time of lending goes back into your account, payment is made by allotment so you can't miss a payment. Is reported to help your credit. Eligibility is based on time left on contract not credit score.
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You did'nt mention just how bad your credit is but if I were you I'd give Quicken Loans or Rocket Loans (same company) a call. Everything is done on-line and they even come to your home for the closing...they brag about loving the military...I'm 100% TDIU and I'm damn glad they called me. Althought I have a 750 credit score they got me from a loan that was 5.25% to a loan that is 3.25%...I went from just over $1200 a month to $879....thats three benjemins a month in my pocket. Good luck SPC (Join to see) and work on that credit...looks like your married or getting and credit will be your most important comodity!!!
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