I have very very bad credit. Will a co-signer with good credit help me get a loan at the credit union?

As I said I have very very bad credit due to unfortunate circumstances. Some were my fault than again others werent. I have creditors coming after me and also have had judgements. I am smarter these days with my money. I just want to rebuild my credit for one and I am more responsible these days. I want to borrow close to ten grand so I pay everything off. I dont have any collateral such as a house. My parents who have good credit say they would cosign for me. I know I am a lot smarter now and more responsible and I am capable of making payments. I am in a credit union so my question is would it be likely for them to lend me money with my parents as cosigners and me being labelled as high risk? I just would like to know because I know by applying to all these loan places It goes on my credit report and I wouldnt want their credit being hurt from being denied.

Public Comments

1. yes they should loan you money with a good cosigner
2. Pay off all your debts, either by a loan with a cosigner or otherwise. Then, wait about a year. Contact each of the companies that you have a "ding" with. Get ahold of a person who can make decisions. Tell them that you messed up, but that you paid the entire balance with them and everyone else. Ask them if they would be willing to remove the ding from your records. Be careful not to repeat past behavior. It sounds like you won't. I tried this and was very successful at cleaning up my credit rating (after paying everyone off and waiting about a year).
3. Any time a lender asks for a co-signer, they are making the loan TO the co-signer. You have already been denied the loan. Generally, you are better of not getting a CONsolidation loan anyway. Just pay off the existing debts as quickly as you can. Any creditor that hasn't already sued you isn't going to. If they tell you they will sue, they are lying. They wouldn't bother threatening you if they were actually going to sue.
4. With a good co-signer you should be able to get a loan. To repair credit yourself visit http://www.cheap-credit-cards.org for more information
5. Bad credit is one of the worst problems to have... however there exists a solution. I will hereby talk from my personal experience. I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details, if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first, a good place to start in my humble opinion is astraight to the point ebook with question and answer I found : http://umgarticles.atspace.com/debt-consolidation.htm if it helps kindly remember me in your voting!.. cheers!
6. Yes ! More info : http://index-go.com/improve-credit-score-get-out-of-debts-fast.asp Good luck !