I am seriously in debt and my credit is a wreck

woah...under no circumstances should you get a loan. Just check out some of the horror stories on here. To be honest with you, 400 isn't really that bad.

Slowly over time it'll improve. Try applying for Rewards660 (credit card) and Capital One. They'll help you rebuild you credit...and from there, depending on how old each account is make them an offer of about 40% of what you owe. That is if you can pay it right then and there. Also start returning all mail that doesn't have a name on the outside. If it's someone you know, they'll call you by phone and say "hey...we got this back" Anyway...if they can't get ahold of you, they'll eventually charge it off. It'll stay on your credit report, but show as a closed account (zero balance).

just a thought.

Unless they take you to court and sue you for the amount. I know it doesnt seem like the way to go, but you might want to consider Bankruptcy. I was just discharged from Chapter 7, and its like a new lease on life. Granted it does stay on your report for a number of years, but you can over come that. If you are buying a car or a house you can get competitive rates after 2 years and in most instances before that. If you are going to declare chapter 7 you need to move quick because the new BK law goes into effect October 1. Your credit is already screwed and if you have over 20K in debt, you arent going to be able to pay it back. Alot of people on this forum will disagree with me. Some say CC companies wont sue for anything less than 10K. Thats just BS. Discover sued me for $1200.

My credit score actually went up 50points after my BK was discharged and it is going up even more when all the accounts are corrected.

Hi vwh

When you said that a lot of people will not agree to filing for bankruptcy in the above mentioned situation, I feel that everyone has its own perspective.

I feel that I will try to erase my debts through some easy repayment programs so that I can build up my credit. After my payments get complete, I will also see an increase in the credit scores by 20 to 40 points. But I know it positively, that a bankruptcy stain will not appear in my credit file.

Basically, there are ways of how we look at things in the long run. Ways are many but we need to execute our steps properly. Right!!

The laws actually change October 17th...You'll want to be filed by October 15th!!!!! I'm in the process of a chapter 7 myself!!!