Is there any institution to help bad creditors with loans?

[stella7]

I know of someone who has had a very bad credit record but now has a good job with a good salary and can afford to pay his loans.But there is one problem,its hard for him to get a loan now.Are there institutions that can help him get a loan?

[mamab]

I don't see what good another loan is going to do, not knowing your situation. I would suggest, instead, that you see a credit counselor to help you manage the debt you have, NOT create more.

[moonmagick]

I know that there are credit cards that are basically geared toward helping people with bad credit rebuild. The interest is insane, as are the fees, but I guess it is supposed to help you start over. I am not sure about loans though. (I know one of the credit card companies that do this is orchard bank, as they sent me a bucketload of offers once I filed bankruptcy).

[cinzia59]

I know someone like that as well, and it just seems as if the "door is locked" and will never open. It's very easy to lose your good credit standing, but very difficult for you to repair it. Actually, I'm not sure if you really can!