Loan help
Date: Mon, 09/18/2006 - 09:03
I live in CT. My credit score is in the low 500's. Can anybody help me? I really need a loan to pay some cards off, get current in all my debt and move on from there. Eventually after a year that my credit score gets better I can apply for a bigger consolidation loan.
Is there any place that will lend you money based on your income? Thanks.
Welcome to the forum hoolio! There are a lot of people on here
Welcome to the forum hoolio! There are a lot of people on here that are or have been in the same situation as you. If you register with this site, a credit counselor will contact you to discuss your situation and explain the options available to get you back on track.
You can put all of your debt in a consolidation plan and make 1 monthly payment instead of borrowing even more money and being that much more in debt. The consolidation plans can usually lower your interest rates and get rid of late or overlimit fees. You make one affordable monthly payment to the consolidation company and they make payments to your creditors.
Tiffany is right. Don't take a new loan when you are already in
Tiffany is right. Don't take a new loan when you are already in debt. You will increase your overall expenses and the interest rates will also be charged twice. You have a good income presently. You must use that money to pay off your existing debts without going into the hassle of taking a new loan. Look into the benefits of the consolidation program. It will make your repayment process only easier. See this link
http://www.debtconsolidationcare.com/benefits.html
I've been told by other people who have used debt consolidation
I've been told by other people who have used debt consolidation that it adversely affected their credit because the debt consolidator contacted the grantors and renegotiated the debt?
Will that happen?
Wrong stories! Consolidation program helps you in paying off the
Wrong stories! Consolidation program helps you in paying off the debts. If possible, try to pay off the debts on your own. That will be the best thing you can do to your credit. But if you can't, use some debt management programs so that your file does not always remain in a delinquent state. I don't think that using such programs will leave a negative impact on your file as long as you are paying off your debts.
We are current on all our debts. Currently, my credit score is
We are current on all our debts. Currently, my credit score is in the low 600's as is my husband but this is due to the debt to credit ratio. We tried obtaining a loan so we could pay it all off and have one bill but were declined so I'm looking at other options, including consolidation. I just don't want to hurt our credit since it's all current and relatively good, I just want to pay it off!
Consolidation won't hurt your credit scores in the long run. You
Consolidation won't hurt your credit scores in the long run. Your future lenders will find in your credit report about using the consolidation program, you will have to negotiate with them for better interest rates unless they are willing to grant you new credit. Once the debts are paid off, this program will be off from your file. You will get the benefits after the accounts are paid off over a regular period of time. Go through this link
http://www.debtconsolidationcare.com/debt-solution.html