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Trying to get a loan for my $ 14,000 worth of debt on my credit, my current score is a 590 and im wanting to get it to a 620 so i can apply for a home loan. alot of stuff on my credit is from 2006 2007, i have tried to get a loan from my credit union to pay off my debt but they told me that do to so much none payments on my credit they wont approve me for a loan until i pay off, im trying to get the loan to pay off my debt, duhhhh!!! Is their another route i can go, is their another lender that would give me the money to fix my credit? can some one help me please!!!!

3 Thoughts on I have $14,000 worth of debt on my credit maybe less,im trying to get some kind of debt consolidation loan but?
  1. Reply
    Go with the flow
    June 6, 2013 at 5:21 am

    No company will offer you a debt consolidation loan.
    For those loans you need amazing credit, and not that much debt.

    Anything you see online for a loan will be a SCAM. 100% scam.
    The online loan scam is so easy to operate a baby could do it.

    For a home, you also have to have a down payment, closing costs, and some taxes upfront. A bank will also want to see 2 months of income left over in savings.
    Also, any debt you have will be counted against your income.

  2. Reply
    June 6, 2013 at 5:56 am

    You cannot make debt go away by taking on more debt. To begin with your credit is not good enough for a loan. If you really want to make your debt go away, you will get a second job and pay off the debt you have. You can drastically downsize your life and go without the latest gadget. There is no one that can fix your credit. Living beyond your means has a direct impact on your future. You will not be considered for a home loan with a credit score of 620. You should consider this a painful learning experience.

  3. Reply
    June 6, 2013 at 6:22 am

    No lender will give you a loan with $ 14,000 in defaulted debts on your credit report.
    Bad debts stay on your credit report for 7 years, starting from the original default date. If most of these debts occurred in 2006-07, the they should come off by themselves in the next year or so.

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