Financial Information
Where can I get a $30000 debt consolidation loan even though my credit is poor and my home is in foreclosure?
Question : Where can I get a 000 debt consolidation loan even though my credit is poor and my home is in foreclosure?
I owe about $ 12,500 in taxes and the IRS is growing impatient waiting for payment in full. So much so that I have received notices of pending lien against our home and levies on our accounts. They may be willing to work out a (huge) monthly payment arrangement but have said that their interest rate will be much stiffer than would be a debt consolidation lenders interest rate. Also my old student loan has come back to haunt at the worst possible time ($ 6500) and they want payment in full right away. I also have another personal debt that I am paying on monthly that I would like to include in the consolidation. I am so desperate to save my home and get all these other debts satisfied. And I’m in a real hurry. I am dredging through the loan modification process with my mortgage lender in an attempt to keep our home, with my fingers crossed… But all the rest of this is seeming impossible to resolve. Please somebody give me hope, tell me there’s a lender who will help… Thank you.
poor credit debt consolidation
Best answer:
Answer by Net Advisor™
You need an attorney to help you with this.
No one is going to lend you any money right now, because the odds are you are going into default.
Don’t try and handle legal issues on your own if you don’t know what you are doing. You need someone who knows how to mange this mess for you.
I would talk to several bankruptcy attorneys, and tax attorneys who have experience in IRS settlements. Many attorneys will give a free initial consultation. Just ask. I would find ones that have no less than 10 years experience in the specific areas of law you are seeking.
Previous related question:
“Bankruptcy or not? I’m caught between a rock & a hard place..?”
http://answers.yahoo.com/question/index;_ylt=AlYKedquaR6sA9RXCI0cpy3sy6IX;_ylv=3?qid=20100826123539AAXnoD7&show=7#profile-info-AA11539964
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#2 written by Alpha O 1 year ago
There have been some great answers to your posted question. As a mortgage lender for the past 16 years dealing with every conceivable situation, I will confirm that no one is making any loan to you in your current state.
I would recommend you stop using bank accounts and opt for cash instead for accumulating savings because a levy against a bank account will simply add to your problems. Get on a budget and use a shoebox with a series of envelopes if you need to in order to get a firm grip on income & expenses. In short, like one person indicated, get at the root of the problem….which is as important or more important than the stated problem. -
#3 written by David M 1 year ago
How did you get into this mess? Accumulating this debt didn’t happen all of the sudden unless you were hit with a huge uncovered medical bill. You need to determine the cause of this mess and fix that rather than the symptoms. My guess is absent a huge medical bill you’ve been living beyond your means and those chickens are coming home to roost. If that’s the case you may need to give up your home in order to help cut your expenses. Nobody is going to take somebody else’s problem of you not paying your debt off their hands except at substantial cost and your presenting a viable plan to pay it back. Good luck.
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#4 written by BIll Q 1 year ago
I’m sorry but no one gives out 30,000 dollar loans to people with bad credit and no collateral. Don’t waste time looking for one. First you are going to have to negotiate with your mortgage lender. Then you are going to have to negotiate with your student loan creditors. They always demand immediate payment at first, buy they can’t get it, so they will have to settle for a payment scheme. You will also have to make monthly payment arrangements with the IRS.
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Kellie, you are doing the right by realizing, and working towards to resolving, your problem. Hang in there. Knowledge is power. Here’s an informative article on tips to avoid mortgage defaults, and one of them includes what you are doing–realizing and not ignoring that you have a financial crunch, which you seek the fix:
http://yourhandymanzone.com/Your_Handyman_Zone_How_To_Pages_Real_Estate_Zone_Buying_Your_House_Mortgage_Default_Avoid_Foreclosure.htm
Hope you find this helpful, particularly on how to utilize resources available to get your mortgage modified or at least fixed to avoid any potential foreclosure, and that you get through your financial troubles.
Good luck!
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Source(s):
The Internet. Just whatever is available online and what I have on my mind, including the inclusion of relevant sites, like the one cited that came into existence from my efforts, which is intended to be useful. Helping people get the relevant info they want is great