Smooches…. asked:
My credit score is 532 and I am about $6,000 in debt (maybe less). I want to start a business, but I know my bad credit is going to hinder me from doing that. It’s not really possibly to save money because I am living paycheck to paycheck. How can I get a small loan to pay these debts off?
Thanks Dave, but I can’t get a second job…I already work full-time and I’m in school full-time all year around.
Kansieo.com
My credit score is 532 and I am about $6,000 in debt (maybe less). I want to start a business, but I know my bad credit is going to hinder me from doing that. It’s not really possibly to save money because I am living paycheck to paycheck. How can I get a small loan to pay these debts off?
Thanks Dave, but I can’t get a second job…I already work full-time and I’m in school full-time all year around.
Kansieo.com
Tags: Debts, Full Time, Start Business
Kansieo.com
Who do you owe the $6k to.
I’d call them first and make out a payment schedule, after thats done, start your business.
As Bruce Williams would say, you have to get a 2nd or 3rd job and pay off that debt
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Unfortunately with those stats and no savings and no collateral the odds of you getting a loan are very low. And if you get a loan, the interest rate and terms (20% minimum … payday loan places can nail you for 100s of percent interest) will be SO BAD that you would probably go in default and have an even lower score.
I **** to discourage someone … but … if you can’t save up money now … and work full time and go to school full time … how do you even hope to make the payments on a loan? Especially if the interest rate is incredibly high. Any new business usually loses money in the first year or two … if you can’t save up money …. this is a bad idea right now.
My recommendation … get out of school and get your credit straightened out, and save up at least 75% of the money you need to get started … and then pursue your business opportunity.
Good Luck!
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Yes, you can get Bad Credit Loan.
A bad credit history is like having contracted an infectious disease. At least this is what most lenders perceive. Any requests for personal loans by people with a bad credit history are generally declined.
But there is a way now, you can apply for Bad Credit Loan.
Here are some best lendrers in this Category.
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Hey I have a recomendation this peaple are experts in debt solutions try them out.
Kansieo.com
There’s a good article at eHow on steps to take to begin tackling your debt. Take a look at it:
How to Stop Escalating Debt
It includes information on companies (both non-profit and for-profit) that can help you with debt consolidation and reduction.
You can also look here for tips on earning some extra cash online:
How to make money on the internet, scam-free
Lastly, here’s an interesting alternative to conventional lending…getting a “social networking” loan from Virgin Money (from the same folks who run Virgin Airlines):
Social Loans from Virgin Money
Hope these help.
bad debt
try prosper.com: