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HI all finally found the forums that I have been looking for! I have a few questions and would hope to get some feedback to them. First and foremost have around 4 grand in debt, which include credit cards, and personal debt (i.e. freinds) I was going to apply for a personal loan however I got denied. I have two qestions, what is the best way to handle this situation, if I get a loan what are the end results of the questions below?

1) If I get a loan and pay it back within the time period perhaps double or triple up payments will that affect my credit?

2) If I have someone co-sign for the loan, if I don't defualt on the loan will he/she have bad credit just for co-signing?

thanks for any help, just want to get everything under "one roof" so ta speak and hae just one payment per month!


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1. If you pay double or triple payments, it will help down the road, not right away. When you first get a loan, it will drop your score a bit. As you pay down your balance and keep your payments on time, you will gain points.

2. If you were to ever go bad with the account, that is the only way it would hurt the co-signer. As long as you make the payments on time, it can not hurt the co-signer. Again, it could cause a drop at first for the co-signer too, as they will have this reported to their report too.

3. If you owe friends money, and they don't charge you interest, its best not to include that in your loan amount.

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