I have encounted Abacus Credit on the internet, and they are advertising a package for $29, and offers a money back guarenttee of obtaining a personal loan for debt consolidation purposes. Anyone have any experience with this company, is this a game or con? With that being said, are there any good sources for poor credit lenders so i can consolidate credit card balances? Thanks! Ken
This company and many more like it sell information of companies that also advertise similar packages. It's like one big merry-go-round. Your best chances at subprime loans are if you can secure it, i.e. real estate, savings acct., or subprime credit card lenders. As a part-time financial broker, i would strongly suggest staying far, far away from buying their package. When one of my client bought the package, they listed Discover and Wachovia as subprime loan lenders. humblemarc
I had a friend who tried abacus, basically you get a list of finance companies that deal with high risk loans. But the way they get around their guarantee, is to offer payday loan services, that virtually everyone gets approved for.
Try the Associates, I don't know their web address but they are less stringent for people with less then perfect credit. Tac
Steer Clear!!! I ordered their "list". Most of their list was composed of links to other sites where you had to purchase another list. I was naive enough to do this. I called an 800 #, left my name and address and received an application in the mail the same week. EVERYONE is approved for a minimum 3000.00 loan, just send in 29.95 money order for processing. You guessed it, never heard another word. Contacted steve at abascus. He said "I contacted this company and they sound legitimate to me" No refund, no response.
Ken, IamsamIam recently posted of some successes in finding subprime loans, 3 of them. Do a search on IamsamIam and look for about 2 weeks ago. I think it was lendingtree.com that was the source. Sassy
