Bad Credit Consolidation Loan

Archive for February, 2010

cja1975a asked:


We bought a car in September of 2005, and we have a god aweful 22.75% interest rate.
it was a 60 month loan
We currently owe about 7700.00 on the loan

We have sold our house, and im in a position to just pay it off.

Can I haggle down to not pay so much of their interest, or what?

or shoudl i just sock the money aside (we are terrible savers) and auto pay the payments each month, to rebuild our bad credit

Im not sure, but it seems like if i dont just pay it off, im paying them a lot of unnecessary interest

Thanx

bad credit car loan

~*Nicole*~ asked:


I deperately need a new car and have no down payment. My credit score is 580 and I have been turned down by the majority of banks, except a few that were thru dealerships. Also, one lender (not a bank) who specialized in bad credit loans offered me a loan of $5k my payments would have been $500/month and the term 12 months! So needless to say I had to turn that down. I have worked hard on getting my credit fixed up, but I’ve done almost all I can do for the time being and nothing is instantaneous when it comes to my score. Right now I am waiting to hear back from a large dealership who transferred my application to their bad credit loans department and they sounded like it may be promising, but I know that the interest rate and terms may not be great. The car salesman told me that I might consider having a co-signer – but awhile back a loan officer told me that he thought co-signers were more for people who dont have enough credit, not those who have bad credit. By what I have heard, my score of 580 definately qualifies me for a bad credit loan, but I could still qualify for a better loan, but either way it would be high interest rates. What should I do? I have considered waiting, but I need a new car ASAP.
the loans I got approved for thru dealerships so far were not enough to buy a car…

bad credit car loan

Kayle M asked:


My credit is not great because I just left school, so I have a lot of open loans. I really need to get a car. I have a perfect driving record and a steady job, and I can afford monthly payments. Is there any chance that I could find a place to help me get a car? I live in Maine, so bonus points if you know a place in Maine…
I need a car like… immediately. So saving up is not an option, unfortunately.
Never learned to ride a bike, but thanks for the suggestion!

bad credit car loan

Blueeyez asked:


My situation is that i own a car and still have to pay off my loan. I have two more years left to pay on it, until 2010. Just recently my engine went bad and it needs major repairs and I don’t have the money for it. The repairs cost more than what the car is worth so obviously its not worth the money to get it fixed. I want to finance into another vehicle but it would just cost more money to do that. What would be the best thing to do at this point? Is there any way I can get a loan somewhere with not so great credit, or would it just be worth fixing the car and just paying the rest of the loan off?

bad credit car loan

credit casualty asked:


I’m trying to not file for bankruptcy. Overdraft protection is the only thing keeping me from making late or no payments at all on my bills and that’s nearly maxed out. I’m in huge cc debt, apppr 35k, and bankruptcy seems like the easiest way out and to feel like a person again. I want to try and fight my way out of this mess if I can. I would like to see if a service can help me but know there’s a lot of scams out there. Is CCCS a debt consolidation service like Debtco or are they two different things? How do I go about finding a fair and reputable service? What types of questions should I ask? I’m near Portland, OR. Anyone have a suggestion of where to find a good service or lawyer (if bnkrp is in the future)?

Also, is a charge off really that much better or different than filing for bankruptcy? What’s the difference when it comes to your credit report and how it is viewed by potential lenders?

TIA

debt consolidation

dandoe1979 asked:


I’ve got about $26K left on a 15 year mortgage. House is currently valued at around $350K (bought it about 15 years ago for approximately $150K). Anyway, taking into consideration the current housing market, I’m interested in purchasing another property as an investment property. Current plans are to purchase a place and rent it out to my son and his college roommate. So my question is if I either take out home equity or do a refinance on my current mortgage and take out an additional $150K, is an income verification required? I’m asking because I’m currently retired. I’m planning to supplement a small amount to the rent collected from my son and his roommate to pay for the $150K that I take out. Thanks.

mortgage refinance

Tarah asked:


My friend has a car payment, fourwheeler payment, and loan payment to make. He makes more then enough a month to pay them all, but its just that all three of those bills ranging from 200-360$ are all due in one week. He’s tried to get the dates changed for those payments but they won’t. He went to his bank to get a loan consolidation but he cant even do that because of the payments all due that week, his credit is bad. He cant just sell his fourwheeler or anything either because it got totaled in a wreck so he had to sell it for about 700$ if that. Does anyone know of any consolidation sites that can cover dept at least up to 30,000$?

bad credit car loan

Emily S asked:


My boyfriend and I have discussed marriage but one of my biggest concerns is his credit. He is working towards improving it, but I know this will take years. I have excellent credit. If we get married and do NOT have any joint accounts, seperate car loans, home in my name, seperate credit cards, etc, will his credit score have any effect on mine? Also if he continues to damage his credit after getting married, will that effect my credit score?

bad credit car loan