My husband and I have about $5,000 of CC or bank debt, and i have $10,000 auth loan left. our credit it horrible, both of us are between 400-500 due to our cc payments being late every month and a couple of them with collection agencys now. are we still elligible for a personal loan? or what should we do?
2006-12-22 01:29:54 · 6 answers · asked by JisLOST 1 in Business & Finance ➔ Credit
You really are not eligible for a personal loan with reasonable terms.
Because of your late payjments, you should try credit counseling. They can help you get lower interest and lower payments on the credit cards. They can also help you handle the collection accounts.
2006-12-22 01:36:23 · answer #1 · answered by Anonymous · 0⤊ 0⤋
1
2016-09-28 08:58:24 · answer #2 · answered by Randi 3 · 0⤊ 0⤋
You can't get out of hole by digging it deeper! Quit borrowing.
Keep food on the table, a roof over your head, and keep the lights and water on. Tell your cc companies that you'd like to make arrangements. It's either that or they may not get paid at all. Try to get your interest rates down. Go to the libraby and borrow some 'get out of debt' books. Don't spend money on anything. Make getting debt free your project for 2007. Budget yourself and stick to it!!!!! Don't spend 10 cents without knowing where it is going. Be strong.
Just quit borrowing. I was just like you at one time, and now I am debt free. I travel and shop, and pay as I go. I've been in both places, and believe me, where I'm at today is wonderful!
2006-12-22 01:46:19 · answer #3 · answered by Momma Jo 6 · 0⤊ 0⤋
I recommend you enter credit restoration/credit repair. This should improve your score up to 90 points in 90 days getting you a preferred interest rate. If you are a homeowner, you could refinance as well and settle out the debt for 50 cents on the dollar as well. Check out this link:
http://66.206.13.149/
2006-12-22 03:09:06 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You want to pay off debt with debt? And you ask us what should you do? 1.) never ever ever ever ever pay a cc late. 2.) Scrape ever penny you have, eat rammin noodles, return pop bottles, sell your car... to pay off to pay off your debt you have to stop the meter of a horrible interest rate that they are gouging out of you. 3.)Seek professional (metal not financial) help to isolate the cause of your sever lack of judgment 4.) Never do that again. 5.) Thank god that your credit suck so you cannot do any more damage to yourself. I am not trying to be mean (I never met you) and I do wish you the best of luck (but how is it that I know you will not listen?)
2006-12-22 01:57:49 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Im sorry to hear that, my aunt had a terrible debt situation too and she got loans assistance from NHBS, Inc. I think they have better loans programs, not sure with your situation but it wont hurt if you'll try checking it wiht them, let me see their site is at
http://www.newhorizon.org
2006-12-22 01:47:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋
http://badcreditresources.com/bad-credit-personal-loans.html . Check this site. Here you will find a list of lenders that provides bad personal loan. Even if you have a bad credit history you can still avail to get a loan.
2006-12-22 08:46:52 · answer #7 · answered by aleish 2 · 0⤊ 1⤋