Bad Credit Agency

Is there a good loan for people with low credit or bad credit?

I have a low credit score. Most my bad credit is old credit. I have a bunch of little loans from finance companies, but they charge really high interest rates. I would like to get a loan for about $5000 to $6000 to pay these off and have one payment that would be lower.

Public Comments

1. If you have a bad credit history it used to stop you from obtaining a loan, but these days you have an option. Enter the bad credit loan. The companies offering bad credit secured loans are now numerous and are able to offer the client varying amounts of loans for any use and over lots of different terms. Bad credit secured loans are a good chance for people who have bad credit history to get a loan and try and rebuild their credit. Understandably the various loan companies will usually take a few more risks if the loan is secured by some sort of collateral. http://www.worldbestloans.com/ Another point to note is that the loan company may insist on a greater down payment and charge you a higher interest rate for the increased risk they are taking in lending money to an individual with less than perfect credit. Another way to help improve your bad credit is to try and make sure you pay your bills on time, and do not overstretch yourself in your spending using your credit cards. Nevertheless there is no need to let your dodgy credit history stop you fro
2. Well, you have a poor history, so you are a greater risk. If your credit score is low anyway, consider negotiating to get the loans paid off at a lower rate. One way to do this is to stop paying the loans, but save as much money as you can. Then, have cash ready to negotiate a deal, say for 60% of what you owe, with the most aggressive creditor. There are companies that will do this for you, but they charge large fees. Another thing I'd suggest is take a look at this non-profit site: www.hummingbirdcreditcounseling.org Although they are an approved bankruptcy education organization, you do not have to be bankrupt to use their FREE services. Start by using their first survey, with an anonymous name. Then, a report will give you ALL of your alternatives, with the pros and cons of each alternative. Borrowing money to pay off these loans will only prolong the problem. I would think it would be better to solve the problem now. You can get a forced consolidation loan from consumer credit counseling service, but the creditors will not waive interest and this non-profit organization is sponsered BY credit card companies and credit reporting agencies.
3. All i know is that it'll be easier to get a credit card than a loan in your situation. If you'd like to find such cards that you'll get approved for, check out the site below.
4. Perhaps you can get one of those credit cards that charge no interest for the first 12 months?