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My fiance and I have not great credit, but we make a decent amount money and are looking to consolidate debt so that we can get out of it! We have about $ 40k in equity in our house, and we will need about $ 30k to consolidate. We have a combined income of $ 77,000. we don’t care about the rate because anything will be better than paying 20-30% interests on about 8 different accouts. Help!

2 Thoughts on Doea anyone know of a company that will give debt consolidation or home quity loans to people with bad credit?
  1. Reply
    October 28, 2011 at 1:50 am

    I would check out or They are community lenders – meaning that people pool their money together and grant loans to people (I think there is a maximum of $ 25,000 though) and pay interest based on their credit score and income. You have to pay the loan back though, it does appear on your credit bureau (so if you pay on time and pay the loan off, it appears as a good mark). And if you screw up, they will continue to hound you through collections, as they should. The difference is – and I like the idea personally – is that a real PERSON is loaning money to you (actually a whole bunch of real persons), not a faceless bank corporation. The person loaning the money is earning interest on their investment with each and every payment, so if you screw them, they won’t re-invest, and you could wind up screwing the whole idea of community lending.

    Do some research on these companies, and look at finance companies as well, like Beneficial Finance. Do not, however, sign up for one of those loans that they “guarantee” you a loan if you send them up to six months payments first. (Generally an email or telephone offer that you “qualify for a loan!!!”) That’s a scam and you’ll never see your money again. Good luck.

  2. Reply
    z shama
    October 28, 2011 at 2:18 am is a wonderful website that can help you find the best debt consolidation company based on your specific needs. The site’s logo is “Debt Relief For Smart People”. The information provided by the website will certainly help you find the best debt solution in an easy and innovative way.

    In fact, If you have the courage and maturity to take 100% responsibility for all your actions associated with all the aspects of your life, including your finances, career, relationships, health, habits, emotions, and even spiritual beliefs, we believe that by the time you will be leaving this website, you will have achieved the magic-mantra to get you out of debt.

    Best of luck

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