Personal Credit Services

[Anonymous]

Could anyone with knowledge of Personal Credit Services comment, please?  I need to borrow some money for my son's college, and I have fair at best FICO scores.  Supposedly, they will find a lender for a fee (depending upon the amount of money you wish to borrow) and refund the fee if you aren't approved for the loan.  Does anyone know if this is a reputable service?  Thanks.

[Anonymous]

I don't have knowledge of these services. However, have you tried asking your school's financial aid office for suggestions?

[Anonymous]

He is not a full time student yet, and he will be able to secure financial aid once he is.  I am having trouble meeting his expenses right now, because he is studying architecture which requires a huge time investment. 

[virtuousbeauty31]

I used to work at my schools financial aid office and I have heard of parent's getting a service simular to this one and once our office received the paper work they concluded it was a scam. Once you find out what school your son wants to go to, you should sit down with his financial aid advisor who could direct you  to a reputable lending source such as sallie mae or wachovia. You may also want to check with your bank or credit union. If you have any more questions please feel free to ask.

[Anonymous]

It's a scam anytime they want money to "find" a lender for you.  At best, they give you a list of lenders you could find on the Internet.  Don't waste your money. 

[Anonymous]

Here's a bad review of them from the BBB (Better Business Bureau):

http://www.newyork.bbb.org/reports/businessreports.aspx?pid=44&page=1&id=81656

[Anonymous]

Hi JemiBlue,

I'm with the other posters on this one - talk to the financial aid department @ the school.   A lot of schools allow you to do a payment plan for the tuition.  Basically, you pay x amount of payments over the semester.  Some schools charge a very small "administrative fee" for this service, while other schools don't charge a fee.

Have you also heard of "My Rich Uncle"? https://www.myrichuncle.com/index.aspx  - this is a legitimate site that allows you to find lenders for free.   A lot of the consumer advocates highly recommend this site.

[Anonymous]

Thank you so much for all the wonderful responses.  I just love this board.