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taking out a loan with fair credit

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Numb2014 posted 7/28/2014 14:37 PM

Since my xh and I have separated, I have been trying to figure out how to lower my monthly bills. I have a 2 loans and 2 cc that are maxed out due to me using them to keep our heads above water when trying to pay for his expenses as well. What I am paying monthly is RIDICULOUS.

I don't have the best credit. Its not bad, most websites say my credit is "fair". I have tried going through my bank for a personal loan (I have no collateral) and my score is not quite high enough. Does anyone have any advice on companies that will provide a loan to someone like me? Not the best credit, but I just need something to consolidate this debt and my monthly pymts

Lucky2HaveMe posted 7/28/2014 15:06 PM

Maybe find a legitimate credit counselor that could help you consolidate all the loans/cc's into one? Just be careful as there are lots of scammy people out there claiming to be helpful but not.

Whalers11 posted 7/28/2014 15:46 PM

Try a credit union. Sometimes they have more wiggle room than big banks.

norabird posted 7/28/2014 16:26 PM

I agree, check with a credit union. Consolidation would be a great solution!

Jeaniegirl posted 7/28/2014 17:06 PM

Especially a non-profit credit union

[This message edited by Jeaniegirl at 5:07 PM, July 28th (Monday)]

Dark Inertia posted 7/28/2014 23:16 PM

I would look into consolidation as well. How much interest are you looking at with each loan?

Numb2014 posted 7/29/2014 11:14 AM

Each loan and cc has a pretty high interest rate. like 24% (recovering from a bankruptcy that was discharged 3 years ago). I am having a hard time finding anyone LEGIT who will loan me the money to consolidate, and I do not have enough in my car to refinance (I owe more than its worth already). I will check out a credit union here by my job. I will open an account with them if they are willing to loan me the money. Prayers and good thoughts please!!!!

Dark Inertia posted 7/29/2014 19:24 PM

Have you looked into the peer to peer loans? The Lending Club is very popular right now. In some of my financial forums a few of the posters "loan" money, and my husband's favorite blogger has also loaned money through the lending club. Might be worth it to look into.

[This message edited by Dark Inertia at 7:25 PM, July 29th (Tuesday)]

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