Comments on: Is there a good loan for people with low credit or bad credit? http://www.creditmechanics.com/bad-credit/is-there-a-good-loan-for-people-with-low-credit-or-bad-credit?utm_source=rss&utm_medium=rss&utm_campaign=is-there-a-good-loan-for-people-with-low-credit-or-bad-credit Helping People With Their Credit Wed, 29 Apr 2009 13:14:12 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: mike f http://www.creditmechanics.com/bad-credit/is-there-a-good-loan-for-people-with-low-credit-or-bad-credit/comment-page-1#comment-961 mike f Sun, 05 Apr 2009 02:45:00 +0000 http://www.creditmechanics.com/bad-credit/is-there-a-good-loan-for-people-with-low-credit-or-bad-credit#comment-961 <a href="http://creditmechanics.com">Credit Mechanics</a> Perhaps you can get one of those credit cards that charge no interest for the first 12 months? Credit Mechanics

Perhaps you can get one of those credit cards that charge no interest for the first 12 months?

]]> By: jimmyjohn http://www.creditmechanics.com/bad-credit/is-there-a-good-loan-for-people-with-low-credit-or-bad-credit/comment-page-1#comment-960 jimmyjohn Fri, 03 Apr 2009 03:28:48 +0000 http://www.creditmechanics.com/bad-credit/is-there-a-good-loan-for-people-with-low-credit-or-bad-credit#comment-960 <a href=""><a href='http://CreditMechanics.com'>CreditMechanics.com</a></a> 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: 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. CreditMechanics.com

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:

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.

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