Alone Moms

There is a public perception that having bad credit means you are irresponsible. The fact for single mothers is that often it’s just a matter of circumstances. They may have been married, but never established credit in their own name. When a divorce or death occurs, they have to start building a credit score when times are tough. That’s obviously not the best time to start establishing a credit record.

Other times, the spouse may not be paying child support or the support is not sufficient to care for the children’s needs and unexpected emergencies that might occur. In that instance, a single mother may be forced to start borrowing money to cover shortfalls. At some point, if she can’t dig herself out of the hole she’s in by herself or with help from her family, she’ll have to start to look for loans for single moms with bad credit.

Being a single mother is always a juggling act, but pinpointing what loans for single moms with bad credit are available and in what sector may help her to decide whether to use her money to pay the electric bill or the car repair bill. There are loans for single moms with bad credit available, but they are not for things like food or diapers. If an emergency comes up, the best thing to do is to weigh your options and make an informed decision.

Car Loans

Fortunately, these are very easy nowadays to get with bad credit. The auto industry is hurting and many American companies are willing to overlook bad credit just to get a car off their lot. The price is that you will get a high interest rate on the loan. The cost of the car may be far more than it is actually worth. However, if you need transportation and think your situation is temporary, buy the car and refinance the loan later with a better rate.

Housing Assistance And Repair

The Department of Housing and Urban Development offers loans to help with buying a house, and also major repairs like roofing. They will work with buyers with poor credit and low-income as well. If the emergency is a home repair this is the best place to go for loans for single moms with bad credit.

Payday Loans

Generally these loans are not good options. The interest rate is can climb as high as 1800 percent of the original loan. And late fees apply to missed payments as well. These types of loans should be avoided at all cost. However, they remain a popular alternative because they do not do credit check. If an emergency requires a payday loan, be aware that missing payments rack up substantial fees and the repayment may equal two to three times the original amount when all is said and done. Try to find other loans for single moms with bad credit before considering a payday loan.

For more great information about Single Mothers visit our “Single Mothers” Guide.

In order to survive as a single mother, one has to start building a network of support systems that cover housing, childcare, food, finances, education and more. The list of needs that a single parent has and her ability to pinpoint resources for her needs may mean the difference between stability and poverty. This article addresses the three basics of survival: housing, childcare, and food.

Housing

The U.S. Department of Housing and Urban Development has great information on their website on where to find assistance for single moms for locating housing assistance. It can range from vouchers, to first-time homebuyers programs, and Section 8’s.

Other possibilities to help defray housing costs are organizations that pair up single mothers to co-house, or getting fuel or heating assistance from the local utility companies.

Child Care

By far, next to housing, childcare is the single biggest expenditure in a single mother’s budget. Many single mothers rely on relatives to help with the childcare. The Department of Social Services has information on child care subsidies and child support enforcement.

For children in elementary schools, the school system sometimes offers after school programs. The YMCA also offers after school programs. If you work at a university and your child is older, they might qualify for a subsidized summer program being held there. There are a number of government and local programs to help provide assistance for single moms needing day care.

If you are working full-time at a company that has a dependent care flexible spending account, sign up. Allocate only the money that you know you will need for childcare expenses and no more. Any unclaimed money at the end of the year is lost. However, with careful management, one can save the same percentage on childcare as your tax rate allows. This can range from 10 to 28% of childcare costs and is a hefty benefit.

Food Programs

A single mother who is pregnant or with children under five may qualify for WIC (Women, Infant, Children), which is a program to give help in providing nutrition. There are income guidelines and the Department of Social Services may need to assess your nutritional risk to determine if you qualify for assistance for single moms.

Registering with the Department of Social Services would help one to also possibly obtain food stamps, which now come in the form of an Electronic Benefits Transfer card, similar to a debit card. This type of assistance for single moms can be invaluable in bridging the gap between making it or not.

Public schools all have meal programs that are need based. There is a national school lunch, breakfast, and special milk program. Schools will typically include guidelines and an application form when you are enrolling the child in school.

Food co-operatives will often let you buy food at a discounted price if you donate time with them. Another possibility is local food pantries and church initiatives.

Typically, the bulk of assistance for single moms falls into providing this daily necessity of food, shelter, and childcare. There are many options available, but it takes time and persistence to apply and obtain benefits.

For more great information on Single Mother Assistance visit our “Single Mother Assistance” Guide.