Hello everyone,

I recently closed my checking account because of payday loans. However, I find myself still in need of an unsecured personal loan. My credit score is low --- in the 300 range. Any suggestions anyone?

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Carolyn B

Welcome to the Forums I would think twice,if I were you, about taking out another loan. With your credit score so low, the interest alone will kill you, plus, you'll stay on the wheel of debt longer. Since you are registered, someone will contact you for credit counseling. They may have some solutions you haven't thought of yet, so give them a chance before considering taking out a loan. If you have any questions, please ask....Karen

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As long as you are alive, there's always hope

You must stress in improving your credit scores. You will have to do a lot of hard work but you must do it by all means. Cut any amount of unnecessary expenses from your daily living. Start paying small debts slowly through a debt management program and this will help in improving your credit.

Like Bossy said, your hard earned money will go in interests alone because of your low score. See these tips how you can rebuild your credit.

Taking a loan to pay of another is not a wise idea. I know this for a fact because I put myself in this own position. I fooled myself into thinking it would be no big deal. I was wrong. Since you have registered with the forum, a credit counselor should contact you within a couple of days to discuss your financial situation with you.