How Do I get a $200,000 Loan with Bad Credit and no collateral?

Hi my name is robert and I need 0,000 to restore my credit, pay others who have lent me money and have 1 consolidated bill. I can afford to pay 00 a month for a monthly payment. where can I go for help? Please real answers, I’m really trying to get out of this hole.

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Sat, Mar 21, 2009

Debt Consolidation

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Tags: Collateral, Consolidated Bill, Lent, Loan With Bad Credit, Money, Restore Credit

7 Responses to “How Do I get a $200,000 Loan with Bad Credit and no collateral?”

  1. SPIFIMAN1 Says:

    Sorry to hear about your problems Robert but the truth is without collateral or very very good credit no one is going to loan you that kind of money and any offers that are posted here will be scams.

  2. julie_mustang Says:

    You only have one choice – ask somebody (with a really good credit score) to co-sign your loan. GOOD LUCK!

  3. Fulk Yu Says:

    I have bad credit and I got a $400,000 dollar loan, 200 down and 6% rate. Not bad huh?

  4. infinite crisis 247 Says:

    unless you have collateral, or a cosigner, your chances are very slim here. i would not go the co-signer route. it can end up in a mess. if you do get approved for this loan, your interest rate will be sky high.

  5. newtonslogic Says:

    Well Robert, the first question you have to ask yourself is how the hell did I get into 200,000 of debt? Your lifestyle and financial practices obviously aren’t sound…taking out a loan isn’t going to fix that.

    Work with your creditors..ask if you can make settlement offers, small monthly payments…creditors care more about your willingness to work towards your debt than most other factors. Paying off all your debt with a large loan doesn’t “fix” your credit…it’s robbing Peter to pay Paul…

  6. Sandy S Says:

    Short and simple answer YOU CAN’T. Even with perfect credit it would be hard for anyone to get an collateralized loan without a long relationship with a financial institution.

  7. RM Says:

    Unfortunately there’s probably not much out there for you.

    If you can afford $3,000 a month to pay, start with your highest rate debt and pay that down (while making minimum payments on everything else). It will take a long time, but if you stick with a budget and truly put 3K towards everything each month you’ll slowly dig out of that hole.

    Read a Suze Orman book if you need advice or guidance, she’s very inspiring.

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