Hard getting a loan when on SSDI

[Admin - Jon McNamara]

Hi Gillian,
As you may see below, we do have some information on using SSDI to get a loan, but to your point it is harder if you have no income other than SSDI. And using a loan to pay electric bills is not a good idea.
But we do have other options available too, such as where people with low FICO scores can get a loan, as many lenders and programs are listed there.

Hi, my name is Gillian,
I am in need of help, even a loan, to pay my electric bill. I was given an amount I never got before, and my complex says it's correct, but I don't know. However, I have till December 6 to pay full amount. I have 440$ of the $690. I need $250 for the remaining balance. I'll attach bill statement. If you guys can help, please let me know even if it’s a loan where I pay monthly payments as it seems hard to get a loan from a bank of my SSDI. I make $987 a month with SSDI and SSI. Typically, I have to use part of the money to get groceries because I don't get my food stamps till the 8th of the month.

[Felise Navadad]

Hi, my name is Gillian,
I am in need of help, even a loan, to pay my electric bill. I was given an amount I never got before, and my complex says it's correct, but I don't know. However, I have till December 6 to pay full amount. I have 440$ of the $690. I need $250 for the remaining balance. I'll attach bill statement. If you guys can help, please let me know even if it’s a loan where I pay monthly payments as it seems hard to get a loan from a bank of my SSDI. I make $987 a month with SSDI and SSI. Typically, I have to use part of the money to get groceries because I don't get my food stamps till the 8th of the month.

[Admin - Jon McNamara]

Yes, most lenders will not provide funds to people with a low income, and SSDI payments (and only that) is generally a low-income. But we have some credit unions listed, online lenders and other places to try. Maybe they can help, and look here for loans for people on SSDI.

[Maldanado]

Hello! I've read all I could about you...right up to that you have contacts all around U.S. Much to my dismay, no place in Maryland, only neighboring states.
I'm 65, widowed, on SSDI, in an apartment for which I'm blessed to pay $650/month, despite it's 20 steps up and I have lumbar stenosis, i.e. chronic pain and had two strokes almost three years ago...but the reason I need help as well as a loan.
I'm on Medicare, my 2021 Part D prescription coverage has a $445 deductible before anything is covered, I have 9 medications for my SSDI that is also causing me to not have income for a loan. The first needed is January 10th, for 5mg Eliquis twice per day. It's about $500 with a coupon. If you know what the med says, do not stop taking it...basically I could die.
I still have my rent to pay, need $445 of the $650. I have been upset for days while I searched for help. I know that after the deductible is paid my meds will be reasonable enough that I'll be able to pay 2020 medical bills too!
This year's plan is so much better but this hump is a nightmare! I can't get any loan assistance because I get $250/month too much from SSDI.
Can you please help me?

[Bobbert]

Hi my name is Steven, and I'm sending you this email because I am on SSDI and am having a really difficult, hard time getting a loan. My wife couldn't make it to work for a few days because of getting snowed in, so we have an emergency to pay our rent before we get evicted and have nowhere to live. We always make it our number one priority to pay our bills on time and we would definitely be able to do the same with our loan payments if we get one. So, if there's anything that you can do or any information that you could give me to help me borrow money when living on SSDI. It would be greatly appreciated if we could get a SSDI loan. Thank You!!