Advice

Hi masscommmajor

And welcome to DCC.

Actually need more information to offer some advise please.

Are U late or defaulted on your current credit obligations?

Why do you feel/think your credit scores are no good?

also..STAY away from payday loans..those a re a dead end and a fast spiral to a Death of credit..

Jerry

I know for sure i'm at least 30 days late on both accounts.
I've tried applying for personal loans through citibank, wachovia and bank of america, but have been denied. I assume my credit is ruined.
Do you know a list of reputable banks I could apply to?

[quote=masscommmajor@yahoo.com]I know for sure i'm at least 30 days late on both accounts.
I've tried applying for personal loans through citibank, wachovia and bank of america, but have been denied. I assume my credit is ruined.
Do you know a list of reputable banks I could apply to?[/quote]

Each applicaiton you make: rather U are denied or not will lower tyour score via inquires.

If you do not have a steady source of income why would a bank make a loan to a credit risk?

I think that maybe contacting and filling in the information here..you maybe able to be helped by lowering your interest fees and make smaller payments.

Jerry

I am working two part-time jobs while in school. I get paid every Tuesday on one job and get paid on the 10th & 25th of each month on the second job.

Hi masscommmajor

I read your complete post and understand your situation regarding your credit. I also read in your last post that you have some income in each month. So, I suggest you to minimize your unnecessary expenses and enroll yourself for a debt consolidation program. It will enable you to lower monthly payments with lower interest rates. A bit of proper planning with your finance will be enough for you to get rid of your present debts. I hope that you will make this move soon and try to improve your credit score.

For enrolling yourself in this debt consolidation program, please fill the online registration form at the home page of this site. One consultant will be in touch with you and explain the best option suitable to your needs. I wish you all the best in starting your move towards a debt free life.

Hope to hear from you soon.
Thanks
Roxette

[quote=masscommmajor]I'm a 21 year-old senior in college. Though I'm blessed to not owe a large debt, I do have a total debt of $5,000 (credit card and department store card combined).
I'm anticipating graduating this December and want to get my finances on track and improve my credit scores.
I've tried payday advances to help pay off some of the balance, but it only puts me deeper in the whole.
I'm considering a line of credit from by bank, but am afraid I won't be approved because of my credit. I've also applied to a credit union to become a member in hopes I could get a loan.
But what do you recommend?[/quote]

Your debt is not excessively large so there is hope in your situation. First off, I would say that you must stop getting the payday loans. They will only make your situation worse because you would have to contend with high interest rates. In addition, taking out too many loans will succeed in ruining your credit score. So it is in your best interest to leave that strategy.

You should look into getting a private/alternative student loan. Since you are looking for a loan, you should look into bank one student loans. they provide private student loans that you can defer until 9 months after graduation. Since you are a student, that loan would be most applicable to your situation. Since you say you have credit problems, you should try to apply for the loan with a cosigner.

if you fail to receive a loan, you should definitely try to consolidate the 5,000. Since you have a steady income, consolidating will help you reduce your interest and monthly payments.