How will a bad credit loan look on my credit?
Feb 26, 2009 in
Credit
xcr0vvx
Will getting a bad credit loan to pay off some credit cards look bad on my credit history? Does it show up as just a new account when my report is checked? If it does have an adverse effect, is it worse than being extremely behind on my credit cards? I know the interest rates are very high, but thats alright with me.
Will getting a bad credit loan to pay off some credit cards look bad on my credit history? Does it show up as just a new account when my report is checked? If it does have an adverse effect, is it worse than being extremely behind on my credit cards? I know the interest rates are very high, but thats alright with me.
Also, any suggestions where to get a bad credit loan? I guess it would be a personal loan.
Thanks you in advance!!!!
Like this post? Subscribe to my RSS feed and get loads more!
4 comments
Sandy S on February 26, 2009 at 11:20 pm
If the credit is so bad and you are extremely behind you will not be able to get a loan without a co-signor.
Beware of the jackasses who post the spam loan offers. They want YOUR money they do not want to actually lend you money after they get your money.
Onny C on February 27, 2009 at 11:59 am
I saw your question I have decided to help people out due to the fact that I myself has been scammed four times by four lenders in my search for a loan but at last I got a reliable lender. that gave me the loan($25,000 USD) that I was in dire need of. Hence I decided that I will refer anybody I come across to this God sent lender he is reliable and his terms are fair. You can get to him via his email address:, Please tell him that Mis CHRISTY . I have search for a legit lender until I got him and I decided to help my fellow humans with this because there are a lot of fake lenders out there and I do not want any body to fall a prey please get to him and tell him that I referred you to him.
latebreakfast on February 27, 2009 at 11:46 pm
You are asking one of those questions that invites spammers. Unfortunately, you won’t be getting a loan if you already have bad debt.
Banks only loan to folks with good credit.
If you can, get someone to cosign for you.
Ted on March 1, 2009 at 2:18 pm
There is no distinct indication of a “bad credit” loan on a report. If you pay on time then it good. If you’re late then it’s bad. Sometimes the industry code can be used if the company is scoring the data themselves. We used to do this when I worked for a major retailer evaluating credit. The theory was that if you were using a “loan company” like Household Finance or Beneficial Finance, instead of a bank, it must be that you got turned down by your local banks. On of the people on our accounts receivable team flipped out when she heard this, because she had bought some dishes and the store salesman had convinced her to finance them through the store, rather than her bank card, which turned out to be placed with HFC. Oh, well. It’s more of a guideline rather than a rule.