I need to find a company that will give me a personal loan, no matter
how bad my credit is and how deliquent I am on previous payments. I
have been out to sea with the navy and I haven't been able to pay off
my bills in over a year.

---

Request for Question Clarification by websearcher-ga on 04 May 2005 19:10 PDT

Hi lil_pedro:

Before we can work on your question, can you tell us a few things?

1. How much do you want to borrow?
2. Where do you live? (state is enough detail)
3. Are you still in the Navy? That is, are you still receiving a paycheck?

Thanks. 

websearcher

---

Clarification of Question by lil_pedro-ga on 04 May 2005 19:19 PDT

Thanks Websearcher,

I am looking for any amount in the range of $12,000 to $15,000. I live
in Everett, WA  and yes I am still active duty military. I have tried
Pioneer Military loans but they never replied back to me. And that was
over two months ago. I recieve a paycheck the 1st and the 15th of
every month. Thank you kindly for your help.

---

Request for Question Clarification by websearcher-ga on 04 May 2005 19:35 PDT

Hi lil_pedro:

Thanks for the quick clarifications. I've started looking for
possibilities for you. There are many lending companies that say they
provide "bad credit personal loans" and have "speedy" approval over
the Internet. However, for the ones I've been finding, most are still
going to check into your credit history - but hopefully cut you some
slack over your bad rating.

Another issue is that many of the companies I'm finding provide
unsecured personal loans up to $10,000, but not over. Would that
amount be enough?

I think the best way for us to proceed is for me to send you these
websites as I find them and for you to try their online application
forms. I don't know *all* your personal details - and I shouldn't know
them! If the ones I find don't work for you, then you can let me know
and I'll try again. If one of them does work for you, you can let me
know and I'll claim the $30 fee you've offered.

Sound good?

Here's one to start trying:

CreditMD - Credit and Debt Relief Solutions
URL: http://www.creditmd.com/v2/bc-personal.php
Quote: "Personal Loan for Bad Credit, Good Credit, or No Credit at All!
Unsecured personal loans can be a great way to get over life's
financial bumps. If you need a short-term loan or a larger sum of
money, we can help. Our unsecured loan proceeds can be used for
anything that you wish. Borrow up to $15,000 and take a vacation,
handle emergencies, or consolidate your bills today! We can help you
get the personal loan that you need fast!"

websearcher

---

Clarification of Question by lil_pedro-ga on 04 May 2005 20:10 PDT

Thank you for your help. The link you have given me directed me to the
site with Citi-financial. They are one of the first people I have went
to. They weren't very much help either. I have a baby on the way and I
want to get caught up with my bills and get a head start for my child.
I am more than capable to make payments now. $10,000 is enough, I am
only $8,000 in debt. They rest would be put towards baby stuff. Thanks

Lil_pedro

---

Request for Question Clarification by websearcher-ga on 05 May 2005 05:47 PDT

Hi again lil_pedro:

Perhaps it would be best if you answered some more questions for me...

1. Do you own your own home?

2. What other lending institutions have turned you down? (No point my
continuing to recommend places to you that you've already tried?)

3. In what form are your debts? Credit cards? Other?

4. Have you considered "debt consolidation" as suggested by
leskowitz-ga in the comments below?

If you haven't already tried American General, please go to their online form:

American General Financial Service
URL: https://loans.agfcredit.com/IAPS?Command=appform&newPage=y&SearchObject=Branch

websearcher

---

Clarification of Question by lil_pedro-ga on 05 May 2005 23:09 PDT

Thanks again for the help. Basically every major bank from Navy
Federal credit Union to Citi-finacial. To Pioneer Bank and Trust. I am
open for all suggestions at this point. Even though I want to have
some extra money for the new baby, it isn't always going to work out
as planned. Do you have any companies that have good
debt-consolidation plans or Debt-negotiatiors? I don't own a home and
most of my debt is Credit cards. 3 actually, and one apartment payoff
for $1400. If it seems like I need to take a different route, then
that is the way I will head!

---

Request for Question Clarification by websearcher-ga on 06 May 2005 04:24 PDT

Hi lil_pedro:

Thanks for the clarifications and thanks for being willing to swing
with the reality of the situation - that shows a lot of character. :-)

I'm afraid that, as you've discovered, there is little to no chance
you are going to be able to get a loan of that size without owning a
house to use as collateral. Now that we've come to that conclusion, I
agree that debt consolidation is the best route for you. While it
might mena that you don't have any "extra" cash at the start, it will
free up money for you by reducing your interest payments in the
future. :-)

Which Debt Consolidation company should you use. I think in this case,
going to the Better Business Bureau is your best bet. I went to

BBB
URL: http://www.bbb.org/

and used their advanced search facility

Advanced Search 
URL: http://search.bbb.org/search.html?advanced=Yes

I then searched for "debt consolidation" companies in WA. The
following ones were members in good standing with the BBB - I'd
suggest starting with one of them closest to you.

American Equity Mortgage Inc 
3055 112th Ave NE Ste 100 
Bellevue, WA  98004 
Telephone: (425) 889-9699 
Fax: (425) 889-9600 
www.americanequity.com 

M T M Mortgage 
1595 NW Gilman Blvd Ste 6 
Issaquah, WA  98027 
Telephone: (425) 391-9600 
Fax: (425) 391-9601 
www.mtmmortgage.net 

Financial Independence Team 
6855 W. Clearwater; Suite H 
Kennewick, WA  99336 
Telephone: (509) 374-9477 
Fax: (509) 374-9477 

Financial Freedom Solutions Inc 
3317 157th Pl SE 
Mill Creek, WA  98012 
Telephone: (425) 357-9089 
Fax: (425) 357-3560 
www.debtmgmtsolutions.org 

Consumer Credit & Debt Counseling Services 
953 Water St Ste 3 
Port Townsend, WA  98368 
Telephone: (360) 385-0555 
Fax: (360) 385-3560 
www.ccdcs.com 

Consumer Credit Counseling of Spokane 
1912 N. Division; Suite 100  
Spokane, WA  99205 
Telephone: (509) 327-3777 
Fax: (509) 327-7562 
www.got-debt.com 

Pacific Mortgage Corporation 
2702 N. Argonne; Suite A  
Spokane, WA  99212 
Telephone: (509) 926-1755 
Fax: (509) 926-9482 

I'm sure that one of these companies will be able to help you get
control over your current debts and allow you to move forward into a
better financial future. I wish you the best of luck with your new
baby. :-)

websearcher

P.S. I'd like to close out this question and provide the research I've
done for you as the official answer. I've certainly put $30 worth of
work into it so far, but I don't want to increase your credit card
debt by that much. :-)
If you'd like, you can lower the amount of the question to something
more managable and then I'll post the information I've already found
as an answer. Please let me know.

Hi lil_pedro:

Thanks for the clarifications and thanks for being willing to swing
with the reality of the situation - that shows a lot of character. :-)

I'm afraid that, as you've discovered, there is little to no chance
you are going to be able to get a loan of that size without owning a
house to use as collateral. Now that we've come to that conclusion, I
agree that debt consolidation is the best route for you. While it
might mena that you don't have any "extra" cash at the start, it will
free up money for you by reducing your interest payments in the
future. :-)

Which Debt Consolidation company should you use. I think in this case,
going to the Better Business Bureau is your best bet. I went to

BBB
URL: http://www.bbb.org/

and used their advanced search facility

Advanced Search 
URL: http://search.bbb.org/search.html?advanced=Yes

I then searched for "debt consolidation" companies in WA. The
following ones were members in good standing with the BBB - I'd
suggest starting with one of them closest to you.

American Equity Mortgage Inc 
3055 112th Ave NE Ste 100 
Bellevue, WA  98004 
Telephone: (425) 889-9699 
Fax: (425) 889-9600 
www.americanequity.com 

M T M Mortgage 
1595 NW Gilman Blvd Ste 6 
Issaquah, WA  98027 
Telephone: (425) 391-9600 
Fax: (425) 391-9601 
www.mtmmortgage.net 

Financial Independence Team 
6855 W. Clearwater; Suite H 
Kennewick, WA  99336 
Telephone: (509) 374-9477 
Fax: (509) 374-9477 

Financial Freedom Solutions Inc 
3317 157th Pl SE 
Mill Creek, WA  98012 
Telephone: (425) 357-9089 
Fax: (425) 357-3560 
www.debtmgmtsolutions.org 

Consumer Credit & Debt Counseling Services 
953 Water St Ste 3 
Port Townsend, WA  98368 
Telephone: (360) 385-0555 
Fax: (360) 385-3560 
www.ccdcs.com 

Consumer Credit Counseling of Spokane 
1912 N. Division; Suite 100  
Spokane, WA  99205 
Telephone: (509) 327-3777 
Fax: (509) 327-7562 
www.got-debt.com 

Pacific Mortgage Corporation 
2702 N. Argonne; Suite A  
Spokane, WA  99212 
Telephone: (509) 926-1755 
Fax: (509) 926-9482 

I'm sure that one of these companies will be able to help you get
control over your current debts and allow you to move forward into a
better financial future. I wish you the best of luck with your new
baby. :-)

Search Strategy (on Google):
* "bad credit personal loans" 
* "bad credit loans" military
* and a host of others

websearcher

I think websearcher went above and beyond his/her call of duty and
went that extra mile for me. I cannot express enough how greatly
appreciated I am of this. If I have anymore questions I know where to
go. My family and I thank you greatly.

If you are getting a loan to payoff credit cards, you may want to try
a different route.  Getting a short-term loan is going to cost you a
high interest rate.  What is the point?  Stealing from Paul to pay
Peter.

You sound like you need some debt consolidation help to get you on a
payment plan.  Basically, these debt consolidation companies call your
creditors and tell them that they should work with you.  Some money is
better then no money.  They get your interest rate down to a
reasonable rate (better then a loan) and sometimes eliminate debt
(late fees).  They are nonprofits groups who get paid by helping the
creditors collect debt.

Then every month you cut one check to the debt consolidation guys and
they pay the creditors based upon a payment schedule.  The cons are
you have to cut you cards until you pay off your debt and no $2,000
upfront cash for the baby.

But since I have in your shoes before (a lot worse!!!), I will give
you $20 as a baby gift if you at least talk to a debt consolidation
company.
Paul

Thanks Paul,

Debt consolidation seems like the best route to take. That means just
crunching pennies for the baby, I really apprecitate your help in this
situation. Now I guess the question is where to find the right debt
consolidator?!

Pick up a phone book.  They are everywhere.  For the most part they
are all the same.

Here is one.  I googled "Debt consolidation non profit" and they
popped up.  I am true to paying you $20 if you go the debt
consolidation route.  Post your paypal id and I will pay.

Good Luck
Paul

http://www.consolidatedcredit.org/

Hi lil_pedro:

Thank you for the kind words and generous rating. I'm glad I was able
to be of help.

websearcher

There are LOTS of companies the will loan you money with bad credit. I
was surprised after my bankruptcy (failed business) that I was able to
get a mortgage loan, credit cards etc.  I used repaircredit-now.com. 
I went to their site to find our how to start fixing my credit and
ended up getting enough information that my wife and I went house
shopping.  We found a house, got a loan and then got a personal loan
to furnish it.  OK, I pay a little higher rates because of the
bankruptcy, but I figure soon I'll refinance, pay off the loans and
I'll have a better rate.  Fixing bad credit is a pain  but, with time
a discipline we're doing it.  Good Luck.

Just make sure that the loan doesn't make your credit worse in the future. 
<a href="http://www.ftc.gov/bcp/conline/pubs/credit/kneedeep.htm">http://www.ftc.gov/bcp/conline/pubs/credit/kneedeep.htm</a>

Since you're still a navy so contacting the navy credit union might be easier.
http://www.navyfcu.org/index.html

If you wanna keep updated on the loan news & info, this blog may help:
http://loancenter.blogspot.com

Did you check with Navy Federal?  As a veteran, I use them for quite a
few of my loans and they're a breeze to work with and their credit
requirements are not strict.

Also...be careful with "debt consolidation" loans...from a lending
perspective, it counts as a chapter 13 BK.  Consumer Credit Counseling
(CCC) is not a good thing for you if you plan on owning a home in the
near future.  Anything that these companies do for you as far as
cutting the debt you owe, setting up payment plans, etc. are things
you can work out with the creditors directly.  When you go the CCC
route, it looks bad on your credit report.  Just FYI...