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-   -   What's a good loan and credit builder company? (https://www.askmehelpdesk.com/showthread.php?t=846588)

  • Oct 1, 2019, 11:21 AM
    honeybun35
    What's a good loan and credit builder company?
    There's a lot of companies now offering credit builder loans . I'm trying to find a good ligate one. I have been looking at Money lion and Self lender. Looking for a direct lender no redirecting.
  • Oct 1, 2019, 05:10 PM
    InfoJunkie4Life
    Credit builder loans generally serve a purpose, are you looking to refinance? Do you have bad debts?

    https://www.creditkarma.com/personal...or-bad-credit/

    This is a good article that goes through some of the in's and out's of it.


    If you're looking at peer-to-peer online lending,check out this link:
    https://www.creditkarma.com/personal...-peer-lending/
  • Oct 2, 2019, 07:26 AM
    honeybun35
    Both need to help pay some debt and build at the same time.

    thanks
  • Oct 2, 2019, 07:54 AM
    InfoJunkie4Life
    Paying debt is the only way to build credit, that is what the system is modeled after.

    Create an account with credit karma or some other free credit monitoring company.

    This will give you a good idea what your number is and a list of accounts 2 of the 3 credit bureaus are aware of.

    From there you will be able to determine what kind of loans to go looking for to consolidate/refinance.

    If the debts are delinquent, you can negotiate a settlement or a new payment plan to pay them off, you can also ask the creditor to remove them from your account after final payment. You can leverage the final payment to get then to comply.

    All debts that haven't been paid on in 7 years or that are already paid in full, you can dispute them for accuracy and age, often they will simply remove them.

    What range is your credit score right now, and how old are your delinquent accounts?

    Other factors for loans include monthly salary, employment record, and other debts.
  • Oct 2, 2019, 05:28 PM
    Fr_Chuck
    Most credit "building" companies, do nothing, you can't do yourself, and often their deals get you worst off.

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