college student looking for a loan of......

I'm currently trying to get a loan for $11,000 I've been denied by 4 banks already but my score is Trans: 723 Exp: 715 Equi: 627. I don't want to put anymore reported loans on my score for this year because it reports that I've asked for 6 times for a loan and was denied.

I don't have a job reporting income at the moment but I DO have a job that pays me but it's a self-employed job that I just started this month. I work on Elance as a freelancing web developer and on onforce as another freelance IT. I've already made 3 thousand in my first month and expect to make more as the months go on and I recieve my certificates as a certified IT specialist.

So before I add another report on my credit report that was denied I want to make sure if credit.com will give me the loan if I put nothing on the report or should I place something... I don't want to give false information.

This message was edited 1 time. Last update was at 04/03/2009

Hello Edwarn,
I completely understand your frustration. Ironically you have answered your own question in the post below. Yes, your credit scores are actually are not bad (Equifax score troubles me a but being so much lower comparing to the other two). Here is a deal, especially in today's credit environment I can't think of any bank to offer you a loan without a proof of income. I know you are a freelancer and it is great, however, you will have to have a history of receiving income from your assignments. In your situation not being employed by someone else is actually hurting your chances. It will improve once your can prove to the lenders that your efforts generate the sustainable income.

So, here is what I suggest to do, check with your local bank, talk to a real person and explain the situation. Only ask for the amount you actually need and not what you would like to have necessarily. Be ready to generate some type of documentation regarding your income.

This message was edited 1 time. Last update was at 04/02/2009

Igor wrote:Hello Edwarn,
I completely understand your frustration. Ironically you have answered your own question in the post below. Yes, your credit scores are actually are not bad (Equifax score troubles me a but being so much lower comparing to the other two). Here is a deal, especially in today's credit environment I can't think of any bank to offer you a loan without a proof of income. I know you are a freelancer and it is great, however, you will have to have a history of receiving income from your assignments. In your situation not being employed by someone else is actually hurting your chances. It will improve once your can prove to the lenders that your efforts generate the sustainable income.

So, here is what I suggest to do, check with your local bank, talk to a real person and explain the situation. Only as for the amount you actually need and not what you would like to have necessarily. Be ready to generate some type of documentation regarding your income.

Oh okay, I just recently found out from a credit report with equifax that I have a public record with absolutely no information on why it's there other then the fact that it was issued by a court in Trenton and it's a very large amount of money. I had no idea this existed I have never done anything that had to do with loans or what ever would have brought it up last year because all I was doing was going to school and playing video games. Equifax is currently debating with the court about me having no information about this and I think I might be a victim of identity theft....

Side Note: I just started looking for a loan this month and the public record was reported Jan 1 09.....

Yep, that explains it. Please stay on top of it and keep an eye on the other two reports. There is always a chance that this public record could show up on TU and Experian reports as well.