# Using loans

**URL:** <https://community.thepennyhoarder.com/t/using-loans/600>\
**Category:** General Discussion\
**Created:** [July 22, 2019, 6:22am UTC](https://community.thepennyhoarder.com/t/using-loans/600 "2019-07-22T06:22:39Z")\
**Posts on this page:** 6\
**Page:** 1

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**Author:** ![christie.rogers](https://sea1.discourse-cdn.com/flex015/user_avatar/community.thepennyhoarder.com/christie.rogers/32/4039_2.png) [@christie.rogers](https://community.thepennyhoarder.com/u/christie.rogers)\
**Post date:** [July 22, 2019, 6:22am UTC](https://community.thepennyhoarder.com/t/using-loans/600/1 "2019-07-22T06:22:39Z")

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Hello,

Has anyone used National Debt Relief or Pacific loan programs? Are they a good step to reducing credit debt?

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**Author:** ![ahmedhamdy](https://sea1.discourse-cdn.com/flex015/user_avatar/community.thepennyhoarder.com/ahmedhamdy/32/3980_2.png) [@ahmedhamdy](https://community.thepennyhoarder.com/u/ahmedhamdy)\
**Post date:** [July 22, 2019, 7:17am UTC](https://community.thepennyhoarder.com/t/using-loans/600/2 "2019-07-22T07:17:41Z")

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I hope you get the right answer

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**Author:** ![kristen778](https://sea1.discourse-cdn.com/flex015/user_avatar/community.thepennyhoarder.com/kristen778/32/3165_2.png) [@kristen778](https://community.thepennyhoarder.com/u/kristen778)\
**Post date:** [July 22, 2019, 4:07pm UTC](https://community.thepennyhoarder.com/t/using-loans/600/3 "2019-07-22T16:07:40Z")

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I used them and they are a rip off. It really depends on how much debt you are in. Sometimes it’s best to just declare bankruptcy and start fresh.

Also keep in mind any debt reduction they give you the next year you can be taxed on the savings they gave you.

Also they can’t negotiate all debts!

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**Author:** ![kellyfromkeene](https://sea1.discourse-cdn.com/flex015/user_avatar/community.thepennyhoarder.com/kellyfromkeene/32/20570_2.png) [@kellyfromkeene](https://community.thepennyhoarder.com/u/kellyfromkeene)\
**Post date:** [July 23, 2019, 1:08pm UTC](https://community.thepennyhoarder.com/t/using-loans/600/4 "2019-07-23T13:08:03Z")

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I’m a fan of Greenpath. They are a not-for-profit that does debt reduction and budgeting.

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**Author:** ![mooreincome](https://sea1.discourse-cdn.com/flex015/user_avatar/community.thepennyhoarder.com/mooreincome/32/1045_2.png) [@mooreincome](https://community.thepennyhoarder.com/u/mooreincome)\
**Post date:** [July 23, 2019, 10:31pm UTC](https://community.thepennyhoarder.com/t/using-loans/600/5 "2019-07-23T22:31:04Z")

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I have heard people talk about them before, but have never heard anything extremely positive about them. I would be very careful about getting into most of those types of programs.

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**Author:** ![yvonne.hill](https://sea1.discourse-cdn.com/flex015/user_avatar/community.thepennyhoarder.com/yvonne.hill/32/1961_2.png) [@yvonne.hill](https://community.thepennyhoarder.com/u/yvonne.hill)\
**Post date:** [July 23, 2019, 11:11pm UTC](https://community.thepennyhoarder.com/t/using-loans/600/6 "2019-07-23T23:11:33Z")

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Run and run fast …fees for everything …don’t do it !!! My friend did and they didn’t do any better than what she could done for herself by just calling the company herself and working out a deal!!! Ask for certain terms … negotiating the loan balance yourself bc let’s face it they rather get some money than no money …u ask for to pay 1/2 if the balance and no more interest occurring on the acct and u get it …let us know how it goes when u call them