bad credit consolidation loan?

You need to have good credit to get a real debt consolidation loan..

Debt consolidation also refers to a risky practice of debt settlement: deliberately defaulting on your credit cards to try to force your creditors to settle for less.

Stay away from any “debt consolidation” company that promises to cut your debt and payments in half through debt settlement….This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. You pay a monthly fee to a debt consolidator….this entire fee goes towards building a settlement account and to the consolidator’s fees to “settle” your accounts in the future. Your credit card companies will deliberately not be paid so that all the accounts will default/charge-off so that they can attempt settlements at around 50%. If you are current on your accounts, this process will ruin your credit rating for sure. Debt settlement is like a roll off the dice with your finances…You can never predict how your creditors will respond to the deliberate defaulting of your accounts…they might settle at 50%…or they might serve you a summons, take you to court…and if they win, you could be looking at wage garnishment.

Ultimate Loans Lenders Inc.
14 Cabot Square,Fulham,
London,United Kingdom
Tel Num: +447045723089.
http://www.Ultimateloans.com

Hello,

As regards your enquiry, we are registered and legitimate loan lending firm based in United Kingdom. We give out loan to Individuals, families, student, Organization, Business Men and women who are into Business transaction. We give out long term loan and short term loan for three to ten years maximum with your interest in this you can as well tell me the amount you need so that We send to you the terms and conditions that is if you are really interested in getting a loan from Ultimate Loans Lenders Inc.
Loan are given out in Pounds, Euro and $US the maximum We give is 3,000,000 both in pounds and $US and the minimum 6,00 pounds and US$. There is one Question I have to ask are YOU a serious individual that we take a loan and pay back after duration with the interest, if you are honest I will trust you because we like to do business with honest people if you are one you will get the loan even if your bank have refuse to offer you a loan because of your bad credit, We will offer you the loan and put a final stop to all your
financial needs.
If you are interested you have to send the amount you need as loan so that we can give you the terms and conditions on the loan for your information loan are given to every part of the world on honest people so if you are honest apply for the loan now contact us via e-mail: ultimate.lenders@gmail.com
You are to get back to us with this information, loan application form
stated below:
* Applicant full name:………………………………
* Applicant Contact Address:…………………………
* Phone No:……………………………….
* Country:…………………………………
* Age:………………………………………
* Marital Status:…………………………..
* Amount Required As Loan:……………………….
* Proposed Terms/Duration Of Loan:………………
* Annual Income:…………………………….
* Occupation:………………………………..
* How you apply for a loan before…………………………….
* Sex…………………………….

Signed,
Mr. Frank Smith.
UltimateLoansLendersInc.COPYRIGHT © 2009 ALL RIGHT RESERVED

Be sure they have a bbb logo as there are many scams about