How do I get a loan to fix my credit?

Question

I am getting married in a little over a year. My Guy's crdit is sparkling I don't want to pull him down. I have tried a few debt cosolidation places but all of my bad credit is from 2-5 years ago. They want info I can't obtain. I just tried with 1 major company and they told me I didnt get the right info and refunded me my start up costs. Saving is not working but now if I have a bill, I pay it. But I can't save this much in this amount of time. If the purpose of my loan is to fix my credit why does everybody want to give me a loan based on that??? Please help.

Answer 1

Try a credit restoration. This is a contriversal way of getting your credit cleaned up but it DOES work and you can have your credit cleared up in less than a year. If you want to do this, however, please use the following guidelines. There are ONLY THREE legitimat credit restoration companies in the United States and of those three I would only recommend one. They meet most of my criteria and have a sparkling record with the BBB. But this is not a forum to SPAM like so many people do. So I will not give out the company's name. But I will put my article here for you to review. If you want to know the names of the three companies who are legitimate, you must email me.

From my blog:

The TRUTH about Credit Repair: Aren't They All Scams or Illegal?

This topic is a really hot one right now. People are falling victim to so many scam artists out there who are taking people's money and offering false hope. There ARE legitimate credit restoration companies out there. But that is the key right there; restoration versus repair. Generally speaking, credit repair is a scam and credit restoration is legit. Does this mean all credit repair offers are scams and all credit restoration offers are legit? NO! It is up to you to do the research. If you can't do the bare minimum to protect yourself, then don't come crying to me if you are taken for all of your money. But, to help you determine the scams from the legits, here are 10 tips on how to tell the difference:

1: If they advertise that they will repair your credit in anything less than 18 months, you are not dealing with a legal company. The LAW requires that any credit restoration agency cannot advertise or represent that they can restore or repair your credit in less than 18 months. (Remember this number, it is going to come up again later.)

2: Check on how long the company has been in business. If they have been around for more than 10 years, you are probably dealing with a reputable company. (Honestly, there are really only three that are recognised as legitimate in the United States.) In a future article I will discuss them in more detail.

3: Do your due dilligence. Check with the BBB. The BBB will provide an unbiased report of how many complaints have been filed against the company in the previous three years. There are two things that you want to consider here. First, if there are more than a dozen complaints over the previous three year period, then this company has serious issues and you should be concerned. Also, if the BBB has no file at all on the business, just walk away from the business. Anyone who is hiding from the BBB should be looked upon with suspicion.

4: Ask for pricing when talking to one of their reps. If they hem and haw about what they charge, or say that it depends on how much they have to remove from your report, they are hiding something from you. A good rule of thumb, if the rep is unwilling to answer any question of yours up front and with honesty, you are not dealing with a legitimate company. This does not mean that if the rep states that they will answer the question in a moment, that they are hiding something. It just means that they are getting there and just need to lay a little groundwork first. Remember, reps are all salespersons. They are there to sell you their service. This is good, believe it or not. This encourages competition in the business and keeps costs down. (Which reminds me: DON'T PAY MORE THAN $1000 PER PERSON FOR THE SERVICE.)

5: Ask if the company is licensed, bonded and insurred. Ask for proof. If they will not show you their business license (which can only be obtained AFTER they have purchased their bond and insurance) this should raise alarm bells.

6: Ask for examples of successes the company has had. A legitimate company will have copies of investigation results (with personal information blacked out of course) that will show you how successful they can be.

7: How long are they going to work for you? Yes, that's right, remember that these companies work FOR you. If they are just going to maintain a business relationship with you for the length of time it takes to repair your credit, beware. What often happens in these cases is that after the company has cleared negative information from your credit report they sever their relationship with you and a couple of months later the information returns to your credit report. Now what are you going to do? Your options are to leave the negative information and suffer for 7-10 years or hire someone, again, to remove the information, again. A reputable company will stay with you for the FULL 18 months (I told you this number would come up again). This allows them to continuously monitor your credit reports and remove any negative that may re-insert itself after the initial sanitizing.

8: What other services do they offer? If they are a legitimate company, they will have rescources that will help you to re-establish yourself in the financial world. Things like the ability to help obtain a debit card even if you can't open a checking or savings account. (Yes, believe it or not, it can be done!) Can you call their credit advisors any time for advice? Is legal representation available if you have to go to court against the credit reporting agencies? ASK! If the company is letgitimate, they will have a team of lawyers that will handle these kinds of legal matters for the duration of your contract.

9: Does their contract advise you of your rights? If not, why? Because they don't know the laws! And if they don't know the laws that are designed to protect you, how can you expect them to know the complexities of the Fair Credit Reporting Act which has 340 different laws?

10: Is there a money back guarantee? In this business refunds are usually prorated. In other words, if you have 50 negative things on your reports and they can only have 30 removed, you are refunded 40% of your money since they were able to get 60% of the information removed. If there is no money back offer, run away! A company that has faith in their services will offer to refund the money if they can't do the work.

I hope this information helps people out there who are confused about credit restoration programs.

Answer 2

Manage your debt
Managing your debt is the first step to improve your credit score, thus inching closer to securing a loan. Before turning to debt management advisers, however, try to manage the debt on your own. Avoid the credit history quick-fixIf your credit score is low and you really need a loan, you may be looking for a "quick fix" to solve your financial woes.Report good behaviorMake sure all of your good behavior is on your file at the major credit bureaus. Call your companies or research online to ensure your payment history is being tracked. Use a secured credit cardOnce you have paid your debts, start repairing your credit by using a secured credit card. The credit card's limit is matched by cash collateral you provide, which keeps you from spending more than you have.Mark’s book-Hidden Credit Repair Secrets can help you fix your credit also.

Answer 3

I am an investor at www.prosper.com. Prosper is person to person lending amortized over three years. Your credit report will be pulled but if you are willing to offer an attractive interest rate your credit challenges are easily mitigated.

There are plenty of lending groups at prosper that can help you get funded. I lead the Altruistic Funding Group where we bid on every listing placed by one of our members (this doesn't make us special, most groups do and you don't need a group at all to place a listing).

Check it out. If it looks like it will work for you, you never know, I may be one of the investors who ends up funding your loan. Good luck.

Answer 4

If you have just been turned down by a home loan lender, in some cases you may have a chance to repair your report quickly enough to change the decision of your lender. But, much depends on the dispute and its details. For instance, if you have defaulted on your credit card debt, you will simply have to pay off those loans to boost you credit scores. This could take some time to rectify your credit standing. At the same time, you should be instilling in yourself some discipline regarding the responsible use of credit and properly managing your finances.For more details and whatever you need yo ask you can visit http://www.kennethbarnes.org/

Answer 5

Here: http://www.vancouverfinder.org/business/personal-loan.html

and here: http://www.vancouverfinder.org/business/bad-credit-loan.html


Hope this helps,