No. of Recommendations: 0
<<I'm a 22 yr. old Fool who is trying to fix a not so good credit card situation. I've tried to get a signature loan from my credit union to pay off the bills, but to no avail. Would it be wise to look at a bank, rather than a credit union? With my credit report as it is, is it worth a try?>>

If a credit union won't touch it I doubt that a bank will either, and besides the bank would be another credit report pulled for purposes of gaining credit. My suggestion is to get a free credit report from the credit reporting agency that credit union used to get your credit history. The credit agencies are required to give you a credit report if you are denied credit. If there are errors in the report get them fixed. Make sure you pay all bills on time for six more months and try again with the credit union. I have also asked questions like what would it take from me for you to reduce my interst rate.

If possable you may want to talk to the underwriter and see if you can convince the underwriter to have a change of heart. Something like what I am trying to do is consolidate to a lower interest rate so I can get out of debt quicker since more is going to principle. Currently I am reducing my debt by $500 a month, but if I can get this loan I will be reducing my debt at the rate of 750 a month, and will be out of debt 14 months quicker. I'm not sure if you will be able to get them to agree, but it never hurts to ask the worst they can say is no again.

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