This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: "https://hubpages.com/privacy-policy#gdpr"

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
jump to last post 1-5 of 5 discussions (5 posts)

Would a personal loan improve my credit?

  1. tdebrick profile image60
    tdebrickposted 5 years ago

    Would a personal loan improve my credit?

    Thinking of consilidating my credit card debt into one loan. I am thinking this is the best for me paying my debt down.

  2. profile image60
    Jayesefposted 5 years ago

    You can raise your credit only by reducing your debit or gaining a benefit that would increase your credit. In your case, since the personal loan would do neither but consolidate your debits and open up your credit card, there is every chance that you increase your debits rather than improve your credit.

  3. duffsmom profile image60
    duffsmomposted 5 years ago

    It can be a feasible option if handled very carefully.  First you would have to qualify for a personal unsecured loan and that is very difficult for consolidation.  The bank will look at your debt that you need to consolidate and be concerned at your spending habits and it may disqualify you for a loan.

    If you can secure the loan, get a low interest rate and destroy your credit cards, it may be a good idea. A better idea is to keep all payments up to date, and add any extra you can to pay towards one card.  Once that card is paid off, cut it up, and apply any money you paid towards that card to the next card debt and so on.

    Sign up for online payments on your cards and if you even get an extra $10 bill, go online and pay it against the one card you are paying off first.

    It can be done, I got an extra job and applied all the money to card debt and got out of debt and stayed that way (that is actually the hard part - staying out of debt - but it feels good)

  4. renegadetory profile image99
    renegadetoryposted 5 years ago

    I have to agree with Jayesef with regard to consolidation.

    I declared bankruptcy back in my early twenties (about 13 years ago or so) so I know all about trying to get your credit back up!  It takes time and can be difficult.

    I would suggest contacting the credit card companies and asking them for a lower interest rate (don't take no for an answer).

    I would also suggest getting a detailed report of your credit score that lists everything affecting your credit score.  You might be surprised to find items on your credit history that are bringing it down and/or should have been removed. 

    If you are able to, try the snowball method of paying off your debts.  In other words, decide to pay off the debt with the smallest amount outstanding and in the meantime only make the minimum payment on all other debts until it is paid off.  Try to put down as much as you can afford each month to pay it off quickly! Then take whatever you were putting towards paying off that debt and move it to the next one and so forth.  Paying off outstanding balances on credit cards will improve your credit rating (and make you feel better too)!

    Always strive to make all your payments on time (defaults on any loans or credit cares will negatively affect your credit score).

    I would also suggest that you take a look at your expenses (bills, etc) and see if you can save some extra money here and there (can you live without cable? can you get a cheaper phone/internet service? etc.,) even look to see where you can save on groceries, eat out less often, bring a lunch to work, etc.  Whatever you save, put some or all of that towards paying off your debt.

    As long as you make paying off your debts a priority and tackle smaller debts first, you can really make a difference in getting yourself out of debt and improving your credit score.

    Debt consolidation CAN work, but realize that you can dig yourself a bigger hole by paying off the credit cards with the loan and then while you are paying off that loan, start racking up debt on your credit cards again.  Then you will really be in trouble!  If you do decide to consolidate, I recommend getting rid of all your credit cards, save one (with a low interest rate), immediately after you pay them off to make sure you don't incur any more unnecessary debt.

    Good luck!

  5. profile image47
    annoymousposted 5 years ago

    all u have to do now is to contact gareth loan corp wit:garethloancorp@gmail.com

 
working