Does anyone have a suggestion on what lender to go to for a Bad Debt Consolidation Loan? ?
Unfortunatly like most people now a days I ran into some financial trouble. I have accumulated some bad debt and need to get it taken care of. Im sick of the creditors calling and I want to build my credit back up so in a few years I can buy a house. I have been searching the internet for Lenders or ideas on how to get rid of debt. But there is so many different people and then on top of it so many BAD lenders. Interest rates are ridiculous and most of the time if you don’t have a house to put up for collateral your screwed. I’m looking for any suggestions or if anyone has gone through this and has a reccomendation of who to go to.
I already tried a debt consolidator who says they will cut your payments and drop your interest..Yeah that was a joke they took me for $650.00 and I then claimed they couldn’t help me.
Just want to thank you for all your answers….there was a 3rd person who answered on here as well but their answer doesn’t seem to be showing. They gave me a site to go to…i contacted the party and was able to get a debt consolidation loan at a very low rate to cover all my bills at a very low monthly rate! THANK YOU SO MUCH!!!
as for the second person who sent an answer….you might want to ask questions or read before you answer…..I NEVER SAID I STOPPED PAYING MY BILLS. So since your assumtion was completely it really discredited any advice you could have given me. Thanks alot for assuming I just stopped paying and became a loser. If you would have just asked you would have known that my ex-boyfriend ran up over 10,000 grand in debt on my credit card and then took off without giving me a dime of it! So next time you want to give someone advice you might want to not assume they are losers and just stop paying things!
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Google this
debt consolidation loan complaints (or rip-off) or
debt negotiation complaints
there are pages and pages of complaints on these companies. Some never pay the creditors and you end up in court anyway – even after you pay them.
You can do this yourself.
there is a book called credit repair for dummies at bookstores
They will tell you how to call up these companies and get the interest down and how to settle with them./
First
“Unfortunately like most people now a days I ran into some financial trouble”
is not true. There are a far larger number of people who still continue to pay their bills on time each and every month.
Now what you might try is to go to CCS, a credit counseling service who try and help you negotiate down interest rates and payment amounts. ONLY CCCS, consumer credit counselor service, look in the local phone book. There is a down side because it may be on your credit reports that you are on the program but reflect you paid all your creditors when paid off.
If you are being badgered and you will NOT get a loan without collateral or a cosigner this is something to consider. Go have an interview with one of their counselors and see if they can help you and know what they are saying before signing on the dotted lines.