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Lenders & Resources
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Lenders & Resources: Where to Turn for Help
Introduction
Dealing with financial struggles can be really tough. Like, it can totally feel overwhelming trying to figure out your options when you’ve got money problems or need a loan. The good news is there are tons of places out there that wanna help people in situations like yours. I wanted to give you a quick rundown on some of the top lenders and resources, in case you or someone you know needs support.
Banks and Credit Unions
Banks and credit unions are usually the first place to turn when you need a personal loan, auto loan, mortgage, or other type of financing. Most of the big banks like Chase, Bank of America, Wells Fargo, etc. offer loans with decent rates and terms. The nice thing is they already have all your financial info on file which makes getting approved easier.
Some smaller community banks and credit unions can have even better rates and be more flexible on things like credit score requirements. So be sure to shop around! Here’s a few good ones to check out:
- Local credit unions – Find one near you
- Online lenders like Lightstream and SoFi – Good for personal loans
- Quicken Loans – Top mortgage lender
And here’s a handy guide from r/personal finance for picking the best bank or credit union.
Government Programs
If money’s really tight, be sure to look into government assistance programs. These can help with things like food, housing, utilities, medical care and more. Some good ones to check out:
- SNAP/Food stamps – Helps low-income households buy groceries
- Section 8 housing – Subsidized housing assistance
- LIHEAP – Help with home heating and cooling costs
- Medicaid and Medicare Savings Programs – Free or low-cost health insurance
The Benefits.gov site lets you check eligibility and apply for many different government assistance programs.
Non-Profit Organizations
In additional to government help, there are also tons of non-profit and community organizations that provide financial assistance and other aid. These vary a lot by location but can include things like:
- Food banks and soup kitchens
- Rent and utility payment assistance
- Job training and career counseling
- Youth programs and childcare
- Immigration and refugee services
A good place to find non-profits in your area is 211.org. You can search by zip code and get connected with all kinds of local assistance programs.
Crowdfunding
If you have large medical bills, emergency expenses, or other specific financial needs, crowdfunding sites like GoFundMe and YouCaring let you create an online fundraiser to get donations from friends, family and even strangers. Just make sure to share your story far and wide on social media to attract donors.
Crowdfunding likely won’t fully replace the income from a stable job. But sites like Patreon allow artists, musicians, writers and other creatives to get monthly donations from “patrons” that help support their work. So look into these options if you have creative talents!
Low Income Legal Help
If debt collectors are hounding you or you’re facing issues like foreclosure or bankruptcy, it may help to talk to a lawyer. Legal aid organizations provide free or low-cost legal services to people meeting income eligibility requirements. A few to check out:
- Legal Services Corporation – Helps find legal aid in your area
- LawHelp.org – More resources for finding pro bono lawyers
- ABA Free Legal Answers – Get brief advice and answers from volunteer attorneys
There are also lawyers who offer payment plans or take cases on contingency. So don’t assume you can’t afford representation.
Financial Planning Help
If you’re struggling with debt or have trouble sticking to a budget, it may help to speak with a financial counselor or planner. They can offer personalized money advice, help negotiate with creditors, create a spending plan and more. Places to get this type of help include:
- NFCC.org – Non-profit credit counselors and financial educators
- AFCPE.org – Association for Financial Counseling and Planning Education
- NAPFA.org – Fee-only financial planners
- Reddit Personal Finance subs – Ask money questions and get free advice
Unemployment Help
Losing your job can be downright scary when you’ve got bills to pay. But there are resources that can help in the short-term while you hunt for new work:
- File for unemployment benefits ASAP after losing your job
- Check if you qualify for COBRA health insurance to maintain coverage
- Take advantage of local workforce development programs and American Job Centers to help with your job search
- Get financial counseling and career advice from the National Foundation for Credit Counseling
Additional Resources
Here are a few other great sites, subs and organizations that can provide guidance when money’s tight:
- 211.org – Connects you with local assistance programs
- AuntBertha.com – Helps you find free and reduced cost services in your area
- NAMI.org – Mental health treatment programs and support groups
- Reddit Personal Finance – Ask money questions and get free advice
- Nerd Wallet – Compares financial products like loans and credit cards
In Conclusion…
Dealing with money struggles is tough, I feel ya. But just know there are options and people out there who wanna help. Start with this list of lenders and resources. And don’t be afraid to ask friends, family or even strangers on Reddit if you need advice or extra support. We’ll get through this!