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Posts: 53
Registered: ‎01-27-2017
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Any experience with Mariner Finance?

Hi all, so I currenty have credit scores that are 629 EQ, 648 TU, and 604 EX. I have one collection that reports on both from a medical bill from 2014, it's about $1,749. I applied for a personal loan to consolidate all of my debt into one payment just to see what could happen, has anyone had any experience with this company, how they approve people and what the service is like? Thanks in advance!

Starting Scores:
EQ: 630
TU: 663
EX: 618

Goal Scores: 700 ATB
Senior Contributor
Posts: 5,420
Registered: ‎02-24-2015
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Re: Any experience with Mariner Finance?


spacecowboy256 wrote:

Hi all, so I currenty have credit scores that are 629 EQ, 648 TU, and 604 EX. I have one collection that reports on both from a medical bill from 2014, it's about $1,749. I applied for a personal loan to consolidate all of my debt into one payment just to see what could happen, has anyone had any experience with this company, how they approve people and what the service is like? Thanks in advance!


1. I have no experience with the company; never before heard of it.

 

2. I don't think you'll be doing yourself any favors by getting such a loan.

(a) consumer finance companies are discriminated against in FICO algorithms

(b) having a new installment loan with 100% utilization will hurt your scores

(c) the terms of the loan are probably predatory, you'd be better off trying to do it through a credit union

 

3. My advice would be, rather than borrow from Peter to pay Paul, just pay your debts down gradually.


FICO8 EQ 782 TU 806 EX 786 FICO5 EQ 747 Total revolving 503000

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