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Question by kelly g: i am searching for a personal loan or a credit card but i have a high debt to income ratio.?
Does anyone know of a loan company or a credit card company that specializes in that kind of loan. My credit score is about 680. I make about 70000 a year but my check only shows about 30000 so i need a company that doesnt check income or understands that i am on i tip compliance with the irs.

Best answer:

Answer by fishlakeguy
As far as a reputable lender is concerned, you make whatever you can verify. A non-reputable lender will generally get you into trouble, financially and legally.

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by eric731

Question by DEBT: Which is a better route? A “debt- consolidation loan” or a “personal” loan to pay off credit card bills?
How does either loan affect credit scores etc…?Which one tends to get the better interest rate? Any reccomendations on what financial institution to go through? How much money do you need to make to take out approx. 10k? Any other info you can provide would help out a lot!

Best answer:

Answer by michelle1984
Personal loan. Debt consolidation ruins your credit

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by MANILA IMPERIAL MOTOR SALES . . . .

Question by pontingm@sbcglobal.net: I need a personal loan to pay off all my debt. I do not have great credit. Where can I go in minnesota???
Where can someone go to get a personal loan to pay off minimal debt and start over again with just the loan payment??

Best answer:

Answer by Mrs. L
There are several loan consolidators that you can find over the iternet.

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Question by Mr. Incredible: Which is better to consolidate credit card debt a personal loan or move the debt to anther credit card?
I have approx. 15000$ in credit card debt on two different cards. I notice each month on one of those cards im paying about 120$ in interest alone while carrying a 9000$ balance. Would it be better to take a personal loan from a credit union at 14% or move the debt to another credit line at 8.35% which can change by quarter. Im looking at a 48 month pay back plan. Both cards are at approx 14% interest already.

Best answer:

Answer by CatDad
If you take out the credit union loan to where all cards are paid off, you’ll have all that newly available credit on the cards, and it will probably be too tempting to use the cards again…so you’d probably wind up with twice as much debt as when you started. Actually, many credit unions will only give such loans if you cut up your cards and close your accounts.
- Moving debt around really does not solve a lot of problems. However, if you could move this debt to the lower rate and totally commit yourself to stop using credit, then this would probably be the best move.
- A drastic move would be to enter into a debt management program though NFCC. They could lower the rate to around 10% for all cards. You’d have cut up your cards and stop using all credit. This would force you to stop using credit, which may be what you really need. http://www.nfcc.org

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by Michigan Municipal League (MML)

Question by : I have a huge debt with Visa, and they’re asking me to geta personal loan to settle the account.?
Is this the best move? Are there other options?

And I really don’t need the lecture on pay your bills and this won’t happen, cause the economy is tough if i would have for seen this coming I would have prevented it

Best answer:

Answer by Really
Your options are a personal loan at a lower rate
Working out an acceptable payment plan. You can ask Visa to freeze the interest, close your account and you will send them 20% of amount due monthly
Or let it go to collections and wait till they sue you in court.
Not much of a choice

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Question by Lost: Where can I get a personal loan if my credit score is in the low 600′s and my debt is very low?
I am trying to find an unconventional method, I been turn down by the bank and it is imperative that I get a loan or quite possible, I will die (I don’t owe anyone, just need to have dental work because I have an infected absess and no dental insurance)

Best answer:

Answer by Ryan M
No one will give you an unsecured loan with a score that low. Personal loans are the hardest loans to obtain for anyone with a score over 750, let alone someone with poor credit.

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Question by Less dreaming, more living: what’s the difference between a personal line of credit and a personal loan to consolidate debt?
which is smarter in the long run
thanks

Best answer:

Answer by Mary
A line of credit is usually an amount that the bank has authorized you to borrow against. A personal loan is a loan that you have already taken out and that you are paying interest on.

The best solution is to pick the loan with the lowest interest rate. It really doesn´t matter what it is called. Lower interest rates and better terms are what you want.

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Question by yo m: Am i responsible for the debt of my spouse? He took out a personal loan and put our address on there. from CA?
He did it without my knowledge and now the collectors are coming after me instead of him. I feel like I should have no responsibility for it since i did not have knowledge of the loan.

Best answer:

Answer by Ralph N
yes,married people are tied together

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by Michigan Municipal League (MML)

Question by Andrew H: If I have a balance on a card of ,000, 9.99% APR, would it look better to get a debt consolidation loan?
I want my credit to still stay above average, but I cant afford to pay $ 1,000 monthly payments to get rid of the balance fast, should I get a personal debt consolidation loan for 36 months instead?

Best answer:

Answer by Lauren F
If you want to get rid of this fast, then taking a 36 month loan doesn’t make sense, even if you could get a lower interest rate. That long length of time will cost you a lot in interest.

I would look for a 0% balance transfer card (see the website www.fivecentnickel.com for suggestions) and transfer it to 0% card, preferably for 12 months. Then, if you pay $ 700 a month for the 12 months, it will all be paid off and you will not owe any interest. Research this plan carefully though. It only works if you make the payment every month on time. If you miss even by one day, the cc company will jack your interest rate up to a horrible amount.

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by marsmet461

Question by Mike L: Is it smart to use a credit card company’s personal loan offer of 6.99% to pay off credit card debt?

Best answer:

Answer by Chloe
Smart and credit card loan offer do not ever make sense.
If you’re looking to pay of credit card debt, I’d look into getting a signature loan at a bank.

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