Bad Credit Lenders in Quebec


Our latest applicant is looking for bad credit lenders in Quebec. He has applied for a 2nd mortgage as a means to consolidating some existing debt that he has and based on his first mortgage payments, the proposed 2nd mortgage payments, property taxes and his income, he should be able to afford the monthly payments. The payments are very high, but then he has a debt situation to deal with and must get control of his finances.

There are a surprising number of people who get into situations like this and need to borrow money to consolidate debt. However because they are in this situation they are sometimes bad credit risks and lenders are careful about lending to people like this even though they are making a very good salary.  This client has a bad credit rating and unfortunately he will be faced with paying higher interest rates due to his credit rating if he can get a loan at all.

He has asked if it is better to apply for a refinancing mortgage that combines his first mortgage with all of the debt that he has. The lenders will need to review his situation decide what terms will be offered if any and then he will need to assess whether it makes sense for him to refinance or just apply for the 2nd mortgage as indicated.

DEFAULT LOAN APPLICATION FOR BORROWER’S INFORMATION

Loan Amount :: $125,000

Loan Application and Processing Speed (when do you need the funds):: I really need this mortgage in a hurry, actually  it is a second mortgage application. I have to repay a couple of loans, credit card debt and i might as well combine my car loan at the same time.

Do you currently have a mortgage? ::yes, I have a 1st mortgage of $225,000

Bank Name and Branch :: Bank of Montreal, St Jacques St

What City/Town, State and County do you live in? :: Montreal, Quebec

Zip :: H2Y1L6

What is your employment field? :: Medical field

Employment Position :: Doctor at a local hospital

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

Your credit rating to be – excellent, fair, or bad? :: fair, although it could be better if I controlled some of my debt

How did you find us? :: searching online for 2nd mortgage financing

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

Gross Amount Per Paycheck ::$2600

Do you agree to have this information published online, without your PRIVATE information of course? ::yes,ok, but please do not let any of my personal information out. I really do not want anyone to suspect I need a 2nd mortgage

Extra information here please (some detail):: I am really quite embarrassed to be looking for bad credit lenders in Quebec, but I have a really bad credit rating  and need a 2nd mortgage as soon as possible so that I can consolidate some existing loans and credit card debt that I have. I already have a large first mortgage, but with the equity in my home and with the money I make, I should easily qualify for a second mortgage with the payments and taxes included.

This is not something I really wanted to do, but frankly I have no choice if I am going to get control of my finances. The first step is to consolidate debt so that I am paying a lot less interest. The second step is to pay off some of this debt so that I can free up some cash flow.

I really do not want any of the details getting out about my personal life. I would be embarrassed in front of my colleagues if they were to find out that I am so far in debt.  I am well educated and should know better but unfortunately between my wife and I, we really have been overspending a great deal and now we have to pay for it.

Note to Lender :: I work for a local hospital and make an excellent salary. I work as a children’s doctor  in a clinic located at the hospital. My income is such that I can afford a great deal of material things, but unfortunately it got away from us and we now owe a great deal of money. We are just having too good of a time with the big house, the expensive cars and the trips and now we have to pay for it all.

I was thinking of a 2nd mortgage as a means to deal with this problem. However I understand that the mortgage rates for 2nd mortgages are higher than they are for 1st mortgages and I was wondering if I can arrange for refinancing of our first mortgage for the total amount that I need. The interest rate would be lower and I would save money this way. I would have to pay early renewal fees probably with the 1st mortgage and perhaps some legal fees to pay out the current mortgage and register the new mortgage. Do you think that this is a better way to proceed? Would I reduce my over all costs or should I just stick with the 2nd mortgage application? Please help.

Category: Loan APR 10% APR 12% APR 14%
Loan Principal $125,000 $125,000 $125,000
Payment Schedule Monthly Monthly Monthly
Length of Term 15 20 30
Amount to be paid $219,264.40 $275,617.00 $344,469.51
Total interest paid $94,264.40 $150,617.00 $219,469.51
Paid per installment $1,201.45 $1,132.67 $1,132.50

Do You Need A Personal Loan?

Legitimate lenders use BFC to find borrowers they can lend money to. We screen them all to make sure they are legal and trustworthy. All fields must be filled out, or the pre-app will not be processed. Thanks for your understanding. NOTE: Lenders generally DO NOT RESPOND to one sentence requests for a loan. They take action if the borrower provides details regarding why they need the money, their Province location, income, outstanding debts in detail. The more in depth your information, the more lenders respond.

Use the loan application below to start the process. Detail your income and purpose of loan please - lenders do not respond to applicants who don't provide it. Thanks for using BFC!


15 Loan Requests

  1. Stella applied for the following loan:

    Loan: 3500.00

    Speed: by monday

    Credit: poor

    Location: Longueuil, QC, Canada

    Income: I only have my salary which is 2100.00 gross a mth and around maybe 1800 clear by month

    Reason:

    I need to repair my car in order to be able to go to work.

  2. Alex applied for the following loan:

    Loan: 11000

    Speed: 4 days

    Credit: Bad

    Location: Montreal,Qc

    Income: 1500$/2 weekly 15th and 30th of each month 180$/Month Veterans Pension

    Reason:

    Consolidate debt, payoff tickets,payoff overdraft,
    Repair roof of my mom house which is in very bad condition.
    Would like to get the loan for 5 years, im a Fed Gouv employee 14 years on the job
    This will help me recover and rebuild my credit history.

  3. Kayla applied for the following loan:

    Loan: 6000

    Speed: Today

    Credit: Bad Credit

    Location: Shawville Quebec

    Income: 860.00 monthly, im on a student assictance program

    Reason:

    I need this loan for school expenses, I have bad credit so no traditional bank will help me out.

  4. George applied for the following loan:

    Loan: 5000

    Speed: 06/06/2014

    Credit: Bad

    Location: Lasalle,Quebec,Canada

    Income: Full time Job at Ericsson since October-2010 Gross 4300$$ Net 2880

    Reason:

    need money to clear 2 payday loans , credit card, household bills and Government taxes .

  5. deijer applied for the following loan:

    Loan: 20000-25000

    Speed: within two weeks

    Credit: 585

    Location: st-lazare, quebec, canada

    Income: draftsman for tech/pro inc. for over 2.5 years and make $1122/net bi-weekly and as a part-time waiter at madison's and make about $600-$800 net a month

    Reason:

    pay off some debts and fix my car and would like to put a good amount on my car loan which has an annual interest rate of 24%

  6. Nathalie applied for the following loan:

    Loan: 5000.00

    Speed: maintenant

    Credit: mauvais

    Location: Terrebonne,Quebec,Canada

    Income: $ 2720.00

    Reason:

    Repartir a zero apres séparation avec le père de ma fille. Il ma crée un mauvais nom et je veut commencer une nouvelle vie avec ma fille et me meubler pour avoir de quoi de bien pour mon enfant.

  7. Lisa applied for the following loan:

    Loan: $5000

    Speed: Today

    Credit: Bad

    Location: St-Eustache, Quebec

    Income: $1860 Per month Paycheck

    Reason:

    I am a single mom and just bought a house. With all these payments, I have run behind on a few of my bills, and I have $2000 left to pay on my car so I would love to just pay that off and pay off my credit cards, so I only have this to pay back along with my regular bills.

  8. Martin applied for the following loan:

    Loan: 60000.00

    Speed: as soon as possible

    Credit: poor

    Location: quebec, canada

    Income: 3600-4000 per month varies slightly because im a truck driver so it depends on the loads I recieve a pay every 1st and 15th of the month

    Reason:

    The purpose of the loan is to complete the construction of our home, I sold my previous home and paid all debts off and had a remaining balance to build a new one , I am constructing the house myself this will be the 3rd home I have built, the excavation and well,septic and foundation ended up costing much more then expected and now we are left with an unfinished home and Im paying rent to live somewhere else. I have no mortgage and no unpaid debts I thought I would be able to borrow money to complete the project from my bank but I was refused because of my credit score due to a previous late payment on a futur shop bill that is now all cleared up but still they will not lend me anything until the house is complete which doesnt make any sense since I need the money in order to complete the house. I own a vehicule and the property and half finished home on it which can be used as collateral, please let me know if you can help me in any way . thank you

  9. Dany applied for the following loan:

    Loan: entre 5000$ et 8500$

    Speed: immédiatement

    Credit: mauvaise

    Location: Ste-Catherine, Qc, Canada

    Income: emploi temps plein 863$ par semaine

    Reason:

    J’ai reçu un avis de saisi de maison de 60 jours. Il me reste 2 jours. Je ne sais plus ou aller. Ma conjointe a déjà une 2ième hypothèque sur la maison, qu’elle paye. Nous avons une entente avec les créanciers pour 817$ par mois. C’est la raison de mon mauvais crédit. J’aimerais un emprunt sur un an ou 2. Je vais collecter mon fond CSN et une portion de mon FRV que j’ai droit ainsi le paiement pourrait se faire plus rapidement. J’ai une conjointe et 2 enfants. Je ne peux perdre ma maison.

  10. LORRIE-ANN applied for the following loan:

    Loan: 5000.00$

    Speed: immediately

    Credit: bad

    Location: Pierrefonds Quebec Canada

    Income: 2,218.00$/monthly net 997.00$/monthly net from Regie des Rentes du Quebec / widow's pension

    Reason:

    I am a single mom working long hours at a dental clinic since three years. I need a loan to pay back money I borrowed from a co-worker.

    Backed up on my Hydro bills, car insurance and school supplies for my 14 year old daughter.

    I would like this loan for a period of no more than 2 years.

  11. micheline applied for the following loan:

    Loan: 6500 - 7000

    Speed: within 4 days

    Credit: not good

    Location: Montreal

    Income: Combined with my spouse 2500$+ I am Superintendent/Concierge of premises where we reside. My monthly salary is 1475$ plus my spouse who earns $1000+ monthly as a self-employed contract worker as well as doing renovations work for my current employer. Our salaries are paid monthly and paid cash.

    Reason:

    We have made mistakes when we were younger and we have had our share of financial difficulties/crisis through the years.
    The purpose of this loan is to consolidate in one payment.
    I owe my employer who has been gracious enough to help and in order to avoid any friction in our working relationship, I would love to bring this debt to zero.
    As well, a family member has been there for us n time of need and now that this member is in need, I would love to give the final balance in one installment.
    Also with winter just around the corner, our vehicle is in need of winter tires and a car shelter.
    And speaking of winter, we know Christmas is also around the corner and would so much love to host a family dinner and purchase needed household items for my children.

  12. micheline applied for the following loan:

    Loan: 5500 - 7000

    Speed: within 4 days

    Credit: not good

    Location: Montreal

    Income: Combined with my spouse 2500$+ I am Superintendent/Concierge of premises where we reside. My monthly salary is 1475$ plus my spouse who earns $1000+ monthly as a self-employed contract worker as well as doing renovations work for my current employer. Our salaries are paid monthly and paid cash.

    Reason:

    The purpose of this loan is to consolidate in one payment.
    I owe my employer who has been gracious enough to help and in order to avoid any friction in our working relationship, I would love to bring this debt to zero.
    As well, a family member has been there for us n time of need and now that this member is in need, I would love to give the final balance in one installment.
    Also with winter just around the corner, our vehicle is in need of winter tires and a car shelter.
    And speaking of winter, we know Christmas is also around the corner and I would love to bring my family Christmas Spirits.
    I would like the terms of payment to be over a period of 24 months.

  13. Valerie applied for the following loan:

    Loan: 6000

    Speed: asap

    Credit: poor

    Location: gatineau qc

    Income: I earn 1740 a month

    Reason:

    I have some smaller short term loans that I would like to have paid off as well as some bills and need to get car repaired.

  14. Kevin applied for the following loan:

    Loan: 10,000

    Speed: As soon as possible

    Credit: poor

    Location: montreal Quebec

    Income: I bring home net monthly salary 3500.00 from Veterans Affairs Benefits. 31 year old Veteran. I have no dependents. I rent my own apartment. I own no secured debt. No car.

    Reason:

    I recently went through a difficult time visiting family in Vancouver. i Live in Montreal. Expenses accumulated and took out several short term payday loans. my monthly payments on these loans are not manageable for my budget. I have not yet defaulted on these loans. but im afraid that is where i am headed. i pay more a month in monthly loans amount than i do in rent.
    I am embarrassed i let this happen to me. but this is what it is. options are either a consolidated load via this site or a consumer proposal or use the voluntary deposit law in Quebec.

  15. Dragonsangel applied for the following loan:

    Loan: 5000

    Speed: april 1, 2017

    Credit: 455

    Location: milton, ontario

    Income: 4500 take home pay

    Reason:

    I have past due rent that I need by april 1, 2017 or I will be evictec. I am getting a great tax return within 30days but can’t hold off the landlord until then. I am in urgent need

Request Your Loan

Your email is never published or shared - NEVER! Use first name or nick name ONLY for your privacy please. Lenders will contact you using your email to initiate process. Applicants who enter more information regarding the purpose of the loan get the fastest response time from lenders. Required fields are marked *

*

*

*

*

*

*

*

*