Bad Credit Personal loan...Private lenders out there??????

Date: Thu, 10/08/2009 - 08:29

Submitted by Keven Bicknell
on Thu, 10/08/2009 - 08:29

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Total Replies: 3

I was wondering who on these boards can help? I am in dire need of roughly a $15,000 personal loan, and I have poor credit. I am prior military and while in, I made alot of bad mistakes and have many collection accounts on my report. I have a security clearance and I fear I am close to losing it bc of these collections. My only option is to get one larger loan, pay them all off at one time and have only this new loan to pay for. I can afford upwards of $1,000/month and I am willing to accept a high interest rate. Do you have any suggestions?

Thanks so much

and I know youre not supposed to take on more debt, to pay off debt...but I am really taking on the same amount of debt, paying off everything and only having one payment. This will get everything off my report and allow me to pay one thing monthly. I can pay it off in under 12 months so short term, high interest is ok with me.

I can't help you but I just wanted to warn you ahead of time, yo

I can't help you but I just wanted to warn you ahead of time, you'll probably receive some responses from the spam kings who lurk, so beware. The Mods try to get to the posts which are spams as quickly as possible but we don't always get them all before unsuspecting people see them.

lrhall41

Submitted by Shazzers on Thu, 10/08/2009 - 08:42

( Posts: 17344 | Credits: )

If anyone finds anything can they forward it to me as well......

lrhall41

Submitted by rvl_73 on Thu, 10/08/2009 - 10:07

( Posts: 154 | Credits: )

OK first you have a security clearnace. Taking out a personal lo

OK first you have a security clearnace. Taking out a personal loan on top of more debt is not a good idea and sends a red flag to your employment when you need a clearnace update. I work in the feild so trust me you do not want to do that.

What I suggest is you consolidate your debt with debt consolodation program. For example, a Debt Management Plan versus a consolidation loan. This will allow you to pay all your creditors in one low monthly payment. Try looking around on the net for a good non-profit program that fits you. Check the company's rating with the Better Business Bureau and make your choice from there.

IMO, the safest way of you getting a personal loan with bad credit, and not risking loosing your job is pulling equity from your home at this point. Or going through a bank for a debt consolidation loan. I highly am against pulling a new loan in your situation, but it is your choice. As stated with your credit rating your monthly payments will be high and go towards more interest than principal on your loan if you shop around for any other type of loan. So ass Shazz stated be careful.

Whatever you decide, best of luck!!

lrhall41

Submitted by Cool_Abyss on Tue, 10/13/2009 - 07:37

( Posts: 2936 | Credits: )