Question : I need to get a personal loan or consolidate about 10k in debt, but my credit is awful, how do I do it?
I have about $10,000 in debt. I need to consolidate the loan, as my financial situation is now getting stable. It's not stable enough for me to pay the collection companies a lump sum yet though. My credit is bad enough to where a personal loan is not likely. I would like to consolidate it so I can have manageable payments and get on with my life and credit rebuilding. I don't think I have anyone I know who can cosign for me on a loan either. Any suggestions?
- asked by kamolahy
All Answers:
Answer #1
you could try something like care one, but theonly thing is it can really affect yourcredit.......negatively.
- answered by melissa s
Answer #2
You have 10k in debt and poor credit., What youneed to do is STOP BORROWING MONEY and startworking more. Work 2 or 3 jobs and pay off yourdebt. Then, when you pay off your debt, yourpayments will be VERY manageable.
- answered by snwbm
Answer #3
Instead of a loan, have you considered a creditcounseling agency? They can get the creditors tostop calling you and put all your bills into onemonthly payment that you pay directly to thecredit counseling agency. They often can reduceyour interest rates and/or get late or over limitfees taken off, so the total amount you owe isreduced.Taking this route DOES NOT affect yourcredit negatively.They also can provide you withsome very solid advice and tools so that once yourdebt is erased, and you're on your way torebuilding your credit, you won't fall into thesame traps that got you where you're at today.
- answered by whydewyouask@sbcglobal.net
Answer #4
There is a great place to go with this. I was in avery similar situation.This is getting help fromreal people without the use of banks or creditcard companies. GoodLuck!
http://www.prosper.com/join/lzc5wh
- answered by kel.scot
Answer #5
People with poor credit feel that it is difficultto get personal loans. However, there are manyfinancial companies and banks that provide loansto bad credit applicants. Bad credit personalloans are generally soughtThe interest rates on secured loansare lower than unsecured loans. However, there isalways the risk of losing your house or propertyif the loan is not repaid.
- answered by Helen m
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