Posted on: 25th Sep, 2012 12:52 am
Though I have an established credit for quite sometime now, I have a debt of about $1300. I am now being chased by a debt collection agency. I recently got employed full time and also work during the weekends. Now, I have a steady source of income and will be able to pay off my debt but it will still take a few months before I'm able to save up the money to pay the said amount. I've been thinking about applying for credit modification loan to pay off all of my debt quickly but knowing how bad my credit score/history is (just above 500), I don't know if I will even get approved. Does anyone know if where I could apply for a loan for people with bad credit like me?
Hi Salom!
Welcome to forums!
I haven't heard of anything such as a credit modification loan. Nevertheless in order to qualify for any kind of loan, you should have a good credit score. Bad credit loans are hardly available these days.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I haven't heard of anything such as a credit modification loan. Nevertheless in order to qualify for any kind of loan, you should have a good credit score. Bad credit loans are hardly available these days.
Feel free to ask if you've further queries.
Sussane
Welcome Salom,
I agree with what Sussane has said. In order to improve your scores, you can check out the given page: http://www.mortgagefit.com/credit-rating/credit-repair.html .
I agree with what Sussane has said. In order to improve your scores, you can check out the given page: http://www.mortgagefit.com/credit-rating/credit-repair.html .
I am agree with Sussane. You first need to put in efforts to improve your credit score so as to get approved for a mortgage loan. For your existing debt, you can request your lender to wait for some time.