Chosen by Asker

The first thing you need to do is to stay off the phone with collectors. Go to my profile on here and click on the link I've provided for the FDCPA and read. Learn what the collector can and cannot do when trying to collect a debt. If they are calling or dunning you, you might consider sending a validation request. Before sending anything out you should do as much reading as you can, to avoid unwanted surprises. Check the collecting statute of limitations for your state to see where you stand. It does seem like a catch 22, you want credit but you need credit to get credit, yikes. The best thing you can do is to sit down with your husband and draw up a budget and then stick to it. Cut things that you don't really need, like cable, eating out, etc. I'm not lecturing and I hope it's not coming across that way. Having a budget is one of the best things a person/couple can do. It will free up money for the bills, lessen the fighting over money, and ease the ulcers, lol. Once you start saving money because of the budget, you should put a little away for a secured card. You can get a secured card for as little as a $200 deposit. Bank of America has one, $99 with a $500 credit limit, that "may" be offered when an online application is done for their unsecured or their regular secured card.

by echo

6 months ago

Asker's Rating: 

with bad credit you will most likely have to 1 )pay a higher interest rate 2 ) accept that you in some cases and from some credit companies you might not be approved 3 ) for the entire amount you were looking for, but at least still be able to get something. So, if you have a bad credit history you can have a personal loan and you can even use this loan to help increase your credit score. The way to do this is * make sure that all of your payments are on time * pay a little more than required each month, if you can do so. This also means that the total cost of your loan will decrease because you'll pay off the loan faster, thus paying less interests. Other things you can do to increase your credit rate Allocate some time where you can sit down undisturbed and do the following: * Write down all your sources of income * Write down all your expenses like power, rent, mortgage payment, gas bills, dining out, other regular bills etc. - everything you are using your income to pay for. * Then, go through the list of your expenses and see what you can cut out in order to make your payments on time and even pay a little more each month. * If you are able to it put a part of the excess money (when you have paid your loan on time and added a little more to your regular payments) in a savings account. It is easy to apply for your personal loan on the internet. Just be aware that since the internet is a huge marketplace there are some not so good loan companies out there, so keep to recommended loan or credit companies with a great reputation

by Shweta S- 6 months ago

It's seemngly possible to do it

by GCBP- 6 months ago

This is not meant to be rude or stupid but if you thinking borrowing money to get out of debt is wise then you haven't learned. First PLEASE stay away from the spammers who will reply and email you offering loans. 99.99 are scams where you give MONEY for them to TRY and get you a loan and as you have already learned it is not going to happen but that UPFRONT fee is non refundable. Following one dumb decision with another will cost you money you do not have right now. You suggest your husband makes good money but what about YOU? Is he working 2 jobs are you? Kids a problem well no they aren't if you really want a job for a year you work nights he works days. No cell phone, no internet, no cable, and ramen noodles until the debt is paid. I do not believe in a lot of what Ramsey advocates but the ne thing he says that is very wise is to make a budget and stick to it EACH AND EVERY MONTH. Then work with your creditors for reduced payments, interest, or balances. the ones who cooperate get paid first then the others after that. Largest interest gets paid off first, forget the Ramsey smallest to largest make yourself feel good crap you made yourself feel good when running up the debt now you need to wisely pay it off.

by Rebecca- 6 months ago

credit union

by Watch IT!- 6 months ago

Have you considered bankruptcy? Sounds harsh, I know, but in your situation it could be worth it. For one, you may have multiple debt collectors ("I was told by one of my debt collectors..."). That doesn't sound good. That would definitely prohibit you from a loan to pay off that debt. Secondly, you say your husband's check is "gone before he even gets paid". It sounds like things are tight. Without knowing more about you, it's hard recommend much. Do you own or rent? If you own, are you current with the mortgage? If you have a mortgage whose name is it in? Does your husband know what kind of debt trouble you are in? If your husband knows, ask for his help. (If not, tell him. Gently.) The two of you can sort out your finances together, with a banker(or 2 or 3... you may need to do some hunting), to see what loan options are available to the two of you. Maybe he could take out a personal loan or a home equity loan (assuming you/him own the home and have at least 20% equity). Either way, you are relying on his credit, because, as you said, yours is not good enough to get you a loan. But, once again, I say look into bankruptcy. Not a pretty word or thought, but you can recover. If both of your heads being underwater, you are good candidates. You can repair your credit in as little as a year or two with a secured card followed by a small installment loan. It will take time, yes. But the creditors will be off your back, and you can start working towards the future again, not working to pay off your past. Find a good bankruptcy lawyer who offers free consultations, and good luck to you.

by Tim C- 6 months ago

You can use CreditCards.com that's what I did and I got approved. Try it! In reference to a cash loan with your credit score I don't think you'll get any one that will give you a personal loan unless it's a loan shark.

by Reggie- 6 months ago