I have a really low credit score and i mean low i need a debt consolidation loan or either a co signer?

if there is anyone that can help me please let me know how. thank you and god bless

Hey there, I think you're just digging yourself in a deeper hole! Let me explain..

If you lend someone your hard earned money out of the kindness of your heart -- you expect to be paid back. Right? Imagine you lend your friend or your mom $5000? Would you be upset if they didnt pay you back? I would bet that you would probably not be very happy -- I'd even go so far to say that you would complain to them and continually harass and remind them until they paid you back... Ah, now put yourself in the position of a bank who lends to thousands of people. If nobody paid them back the bank would lose a lot of money and go out of business. So when you ask can you get a loan with a low score, it leads me to believe that you don't understand how the credit score system works.

Banks lend money to people for a small fee which is usually a percentage of the overall loan. This is how they profit from loans and can continue to stay in business. However when someone doesn't pay their loans back in a timely manner, the bank loses a lot of money. When a lot of people aren't paying their loans back they run into all sorts of problems! And so for banks and other lenders to make sure they can stay in business and continue to offer loan products, a credit scoring system was developed to rate people based on the likelihood that they will be pay their loans back. People with lower scores have lower scores because their credit report has a history of missed or late payments. Enough of these entries on your credit report and not only will you have a low score but you will immediately make yourself look like a high risk to a bank with little chance of return -- and in effect banks and lenders will not lend to you. So if you want a loan, the trick is to make yourself look appealing to lenders. One way to do that is demonstrating that you have enough income to pay your loans in a timely manner. Primarily, however, to make yourself look even more attractive to a lender -- e.g. they will make money from you and not lose money -- showing that you are responsible with your bills and debt is the only real way -- and that is reflected in your credit score.

Your score is low, so you're not gonna be able to get any of the "good loans" and any service trying to offer you consolidation is likely trying to scam you.

My advice: don't get desperate. In the very worst case scenario filing for bankrupcy is an option, but you shouldn't rely on it.

Please don't take out any new loans. You're not likely to get a good rate!!!

Try to build your credit score if you can by proving to banks that you are responsible from here on out!!

Here are my 10 steps you can use to build your credit score quickly. I raised mine to well over 700 points fro 500 using these steps in less than a year:

1. Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score monitoring listed on the article below. It really helped my get my score up.)
2. Never Miss a Payment, Starting Today
3. Never use more than 20% of your Available Credit
4. Keep Credit Cards that Have No Annual Fees Open For as Long as Possible
5. Extend Your Credit Limit on Cards You Already Have before You Get New Ones
6. Get Credit Cards that Have CashBack Rewards to Contribute to your Balance
7. Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit-
8. If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan
9. Take out a Small Personal Loan and Repay it Over a Year
10. Ask Someone With Good Credit if They will Account Shadow you

When you're trying to build a solid credit score it's important to get a comprehensive view of what is actually effecting it...

Your Credit Score (also known as your MyFico score) is calculated with the following breakdown:

* 35% - Payment History
* 30% - Credit to Debt Ratio
* 15% - Credit History
* 10% - New Credit
* 10% - Credit Types in Use

If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score.

You can read more about these tips on my blog: How Can I Increase My Credit Score

* http://millionster.com/articles/debt/increase-fico-credit-score/

And just in closing -- Please be smart in these matters! Try to see if they can setup a payment plan for you tell them you cant afford your loan payments.. They usually just want their money!!

Good luck!

However, some institutions may approve bad credit bank loan applications.
Keep in mind that they may charge you a higher interest rate.
If you have bad credit or poor credit history, you may have trouble convincing lenders to approve your loans.
So i have a list of some best compnies offering low interest on Bad credit loans and also fast approval.
http://GoURL.Biz/0ce456

Best of luck

Practically any type of loan can be wrapped into the debt consolidation process. Common types include finance charges, late fees and overdraft charges, credit cards, personal loans, utility bills, medical bills, car loans, store cards, gas cards and back taxes. A debt consolidation loanold loans are replaced with a new one that has more favorable terms. Your loan consultant will negotiate with creditors on your behalf, so youâ€™ll no longer have to deal with harassing phone calls and daily mail.

Borrow more to pay off debts won't get you out of debt, you will owe more, unless you can get a very low interest rate, which you can't, because of your credit. Do all of your family and friends a huge favor, do not ask for a co signer.

Either file for bankruptcy, or start paying off your bills as much as you can.

Most companies will not give you a consolidation loan unless you only owe 20% of your credit limit (i.e. credit limit is $100 and you owe $20 on the card), and having a co-signer means that he or she has to have excellent credit, and if anything bad happens to this loan, it will go on his/her credit report as well as yours.

If you want to salvage your credit, you can speak to a debt management consultant who will negotiate a lower APR on your outstanding cards or loans, however, they will be considered close because you will not be able to do anything but pay it off (within 5 yrs). If you have one card that has a low limit, I would suggest keeping that and paying it yourself so that at some time in the future, you will still have a credit card. Here is the debt management consultant I've used.

Hi,
I used "Credit Solution" to settle my debt.They managed to reduce my debt 58%.It's legitimate.I came accross this company on NBC News Special Edition.Check it out here:
http://creditsolution.easyurl.net

I don't know what country you live in, but in many countries you can find debt counseling services. Do a Google search or check your phone book. Look for credit counseling, debt counseling, etc. Often these organizations do not charge for the service. They will go over your financial situation with you and make recommendations based on your situation. Please try this counseling if it is available.

Opt for a debt consolidation loan: The easiest method of getting a debt consolidation loan is to utilize the equity of your home. Equity of your home is calculated and determined by the difference in the amount you have paid and the amount you owe. If the amount you have paid is more than the amount due, you can use it as collateral. This allows you to borrow money on lower interest rates. Besides, you also get tax benefit on this type of loan. Consult your tax advisor before opting for this loan.
http://debt-trap.com/category/Debt-Consolidation-Basics.html

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