Loans???
Answers:
Lots of people borrow money; phone book is full of banks and lenders. Check to make sure you are dealing with someone reputable. Don't pay an upfront fee to borrow. Make sure the interest rate is LOWER than what you are paying on the card; otherwise it doesn't make much sense. Borrowing money doesn't hurt your credit if you keep borrowing in line and pay promptly.
So you are taking out a loan to pay another loan? Doesnt make much sense to me unless the interest rate is insane on your credit card.
I believe that's called "Robbing Peter to Pay Paul". Instead, you may want to consider calling your credit card company to negotiate a lower interest rate and payment plan. Don't get that loan, because chances are, when you get in a bind, you'll use that credit card you payed off and you'll be $4000 in debt instead of $2000. Dave Ramsey is a great financial advice radio guy--check out his website at www.daveramsey.com
Good luck! ;)
First piece of advice: If you are going to get a loan to pay off your credit card then cut up your credit card so you won't use it anymore. Otherwise, you'll keep charging with it and end up owing the loan and the credit card. Second, go to a local bank or credit union. Do you have a savings or checking account? If so, go to the bank where your account is. Ask at the information desk who you need to speak to about a loan. They will help you through the application process. A loan works by the bank providing you with money up front in exchange for you making monthly payments which will include principal and interest. To your last question, no, a loan does not give you bad credit. Not paying a loan will give you bad credit but having a loan and making your payments on time will not give you bad credit. Let me reiterate: If you get a loan and pay off your credit card, then get rid of the credit card so you don't end up owing twice as much.
First - QUIT using the credit card. This is a really small loan, so unless you are paying like 19+% interest on the card, there is a good chance that you will pay less just paying the card directly.
However, if you do have an insane interest rate...go talk to your local credit union. You may have to open an account, but the rates are usually great and you may be able to get a small bank loan to help lower the payments. Just remember that you need to keep paying the card on time NO MATTER WHAT until you get the loan info sorted out. As long as you stop using the card, the second loan will help improve your credit as well because it shows that you can effectively manage debt.
I found lots of good information here.
Personal Loan With Bad Credit
http://pay-your-debts.com/category/perso...
its better for you to try for an online loan.i think that th e below website will help you to find the right solution.
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