PostHeaderIcon Bad Credit Loans for Debt Consolidation?

Long Story Short, Back in 2008, I ended up paying off all of my credit debt and then ended up moving to another state to be with my girlfriend (moving to another state without another job lined up is a bad idea). After Maxing out all of my credit cards, being legally homeless for months on end and living out of a motel I finally made my way back home where my credit was destroyed. I am now trying to pick of the pieces but it has been difficult.

Tons of people always talk about how people with horrible credit can still get personal or debt consolidation loans. When when you look online all you see is spam or garbage. I’d like to get a personal loan so I can consolidate my bills and move out of my parent’s house. Does anyone know of any legit, useful places that provide a bad credit loan (not payday advances)?
All of my credit cards ended up going to collections. I am currently now making payments to those collectors. They all refused to let me make payments on my own; telling me that my word on paying wasn’t good enough and that I had to either allow automatic deductions or they’d simply garnish my wages. While I was able to get several down to 60% of the original debt, the only way they’d work with me was by setting up automatic payments. I am annoyed that I am trying to at least fix my credit and pay my debt and these people are being so frustrating.

One Response to “Bad Credit Loans for Debt Consolidation?”

  • Malty21 says:

    All of them are bad… really. They will do the same things you can do on your own and not have to pay for it. You do not get a loan to pay a loan.

    I would call the creditors and try to work out a payment plan. They will work with you if you are diligent. Make sure that every agreement comes on paper from them before you make a payment. Do not allow automatic withdrawals from any account-period, meaning do not give anyone your bank account info or any type of info that will allow for a debit.

    More then likely if you do not have assets and the banks will not give you a loan it’s not worth doing. The interest rates on a loan from a shark will be out of this world and your debt will cost you lts more in the long run.

    Take your extra cash and start paying down the old debt. start with the smallest debts first and work your way through them this way.

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