Ok so in my extensive search for loans for someone with bad credit, I have come across a couple seemingly legit companies (and hundreds of clearly bogus ones) that essentially guarantee to place you with a lender regardless of your credit score as long as you have income, and they also have credit repair companies and a bunch of other services they offer.

Now I firmly believe in paying for a service if it's legit, I am not one of those who thinks I should get somethin-for-nothin, but I also know I am struggling right now and long for the days that I could say I was living paycheck to paycheck (still alot of prior debts to resolve), so I an hesitant to put any money up front for a service to get a loan without some kind of feedback on how these things work...if they work.

I don't think I can name them here, but anyone who has done their due diligence in trying to find a loan, I'm sure you have heard of some of them. In any event, the membership fees seem to range from $19.99 up to $39.99 on average. Anything beyond that seems to have scam written all over it, and the website looks like a 5th grader put it together.

So can anyone provide some feedback on companies like this? They say it's a money back guarantee if you don't find a loan using their service, but I need to know I am making the right decision to even try it. Just trying to get as much information on this as I can and any type of feedback will be greatly appreciated.

Yes, you are making the wrong decision using the service. Places like that are rip offs looking to milk you for what ever they can get out of you with super high interest rates as well. Why exactly do you need the loan in the first place? If your trying to get out of debt, taking on more is not a good idea.

Bad credit and loans just dont go together. Everyone is always looking for that loop hole. The problem is that even if you find a lender the interest is going to be sky high. In most cases consumers are better off that they were turned down. Some places are ligit and offer the money back guarantee. The problem here is that they use "Get me done" banks with crazy conditions, terms, and interest. If you pass on the deal they still keep your initial payment.



Mark

In most cases it is better to file Chapter 13, than try and work with these agencies. The stats on people who end up having to file chapter 13, after using these services is extremely high. Why rack up more debt in trying to save an already gone credit rating?

Before you actually take that big leap in to actually applying for a bad credit mortgage loan for yourself, try your best to actually arm your self with (more than) enough information to actually guide you through the debt restructuring process