Rebuilding Your Credit

[agforfree5]

I need some advice/suggestions on fixing my brother's credit. He has a few high balances on CCs and collection account. We are thinking of applying for a personal loan or a debt consolidation load to bring down the balances, as neither of us have the cash to put down at once.

Any suggestions on where to try to get one ? I know large banks such as Chase does not offer unsecured debt consolidation loans. We are not a part of any CU. His scores are in the Low 600s.

Any input would help. Thanks.

[TrishN]

With CA on his credit report , I believe no one will open unsecured for him. He have to paid all CA or PFD to satisfied debt first

[agforfree5]

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TrishN wrote:

With CA on his credit report , I believe no one will open unsecured for him. He have to paid all CA or PFD to satisfied debt first

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Ok thanks.

But I guess my question is.. Are debt consolidation loans even offered anymore? If so, where at, as I can't seem to find any bank that does?

[agforfree5]

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agforfree5 wrote:

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TrishN wrote:

With CA on his credit report , I believe no one will open unsecured for him. He have to paid all CA or PFD to satisfied debt first

---

Ok thanks.

But I guess my question is.. Are debt consolidation loans even offered anymore? If so, where at, as I can't seem to find any bank that does?

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Bump...

[madmann26]

Your brother may find it easier to pay down the balances over time. This does 2 things:

1. Establishes a payment history

2. Will do more for his score over time.

[agforfree5]

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madmann26 wrote:
Your brother may find it easier to pay down the balances over time. This does 2 things:

1. Establishes a payment history

2. Will do more for his score over time.

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Madmann -

I understand that, that is why I am asking if a debt consolidation loan is a good idea (if I get it at low interest rate)? Also, what is a good place to try and get one ?

Anyone here with any experience on this ?

[agforfree5]

Still no answer... anyone ?

Bump..