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Is there any company or bank that you guys may know of or ever have used, that still consider people for loans that have bad credit? Overall, I have about 10,000 in credit card debt. I also have a student loan and car loan but those are always paid on time; it's the credit cards that drive me insane. If I just had a loan or advance for the above amount, I'd pay them all off and just focusing on the new repayment of the loan. I've ran my credit cards through shredders, so there would be no temptation to use them again. Any suggestions? In total, my credit cards come to about $360/month in total payments. I'm sure I should be able to get a loan with a smaller monthly payment than that right?
@Anonymous wrote:Is there any company or bank that you guys may know of or ever have used, that still consider people for loans that have bad credit? Overall, I have about 10,000 in credit card debt. I also have a student loan and car loan but those are always paid on time; it's the credit cards that drive me insane. If I just had a loan or advance for the above amount, I'd pay them all off and just focusing on the new repayment of the loan. I've ran my credit cards through shredders, so there would be no temptation to use them again. Any suggestions? In total, my credit cards come to about $360/month in total payments. I'm sure I should be able to get a loan with a smaller monthly payment than that right?
It depends on your scores. You can always try a CU; in fact your odds are better there. Or try peer-to-peer lending. I got one via Lending Club. They will pull your TU FICO (same version as on here) and require a 660. Prosper is another one and they'll pull a Scorex PLUS score for EX.
Yeah, I definitely have no shot with those lending companies. I haven't checked my FICO score in over a year, but I know for a fact that it's horribly low. Mainly, because I've had 2-3 recent collections and out of my 9 cards, 7 are near maxed out, which is one of the worst things for your credit score. That's the whole reason why I want a loan, so that they will all be "zeroed" out.
One of my good friends had credit issues a few years ago and he swore that when we ordered his credit score online, it told him that his score was too low to come up with a numerical number. I think I may be in that same boat now :-(
@Anonymous wrote:Yeah, I definitely have no shot with those lending companies. I haven't checked my FICO score in over a year, but I know for a fact that it's horribly low. Mainly, because I've had 2-3 recent collections and out of my 9 cards, 7 are near maxed out, which is one of the worst things for your credit score. That's the whole reason why I want a loan, so that they will all be "zeroed" out.
One of my good friends had credit issues a few years ago and he swore that when we ordered his credit score online, it told him that his score was too low to come up with a numerical number. I think I may be in that same boat now :-(
I think your friend might have been pulling your leg.
For anyone that has enough activity to generate a score the lowest a FICO can go is 300.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".