Anyone familiar with moneynowusa.com

[RichieNY]

If anyone knows about this site, are their lowns a good tool to rebuild credit with?

thanks

[llecs]

Never heard of them but they sure did buy ad space on or bought the domain name on thousands of sites. I'd be skeptical.

[RichieNY]

Thats what I was thinking

They claim to not be a lender, they foward your information to "hundreds of lenders who rarely check your credit score"

I read up on "yahoo answers" some say it is legit, just very high interest....like a legal loan shark haha

But I'd be willing to take out high interest 500 personal loan JUST TO have another positive on my credit

[Anonymous]

IMO, stay away from it.

One of their options is a payday advance, and am sure other options are similar.

Do you have an installment loan reporting on your CR now? If so, you don't need this loan.

Remember, repair then rebuild. Take it slow, trying to rebuild before repairing could cost you lots of money in interest and IMO, not worth it.

ETA: I highly doubt any of their lenders even report on your CR, unless you default.

Message Edited by sidewinder on 12-12-2008 08:48 AM

[RichieNY]

In response to "do I have an installment loan on my report" the answer is no

I have 8 things on my report, 3 chargeoffs and 5 Collection accounts

My credit score, obviously is very poor.

The negatives are now aging, they are all 3-4 years old and I am trying to become more responsible and start fresh

This month I have opened:

-crown jewelers

-a First premier card, only one I can get, even orchard denied me

-my father put me as an AU on an AMEX with 3 years good history, $1500 utilized out of an 8K limit

I am hoping those 3 will greatly increase me score

DV letters are in route to the 8 baddies

Just relying on those 3 accounts that I got open this month to make an impact