Debt Advice Needed

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Viper
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Debt Advice Needed

Post by Viper »

Credit score is 680.
Never been late on a bill.
I make $6,500 a month (gross) proven by 12 months bank statements.
I own my car outright.
I, unfortunately, do not own a home.

I decided to start my own business a year and a half ago and now am sitting with a $68,000 in various debt that I am looking to consolidate, most of it business related. Basically, I can only afford to just make my monthly minimum payments now, and I need to consolidate it and stretch it out to a 60 month loan in order to create some cash flow.

Here's the pickle:

*I have a good enough credit to get that kind of loan IF I owned a house, but I don't, so no dice there.

*Lenders will only loan up to $25,000 on an unsecured basis, and most balk at that amount based on the debt I am carrying already. I told them I have no problem closing these revolving accounts as a conditional loan approval, but have had zero success with anybody biting on that.

*I tried to apply for a business loan (I am incorporated) but I only have personal credit, no business credit profile, so I am only getting lines of credit up to $7,500.

If banks use a 50% monthly debt-to-income model as a primary underwriting guideline, I should have no problem getting a term loan that leaves me with a monthly payment of roughly $1,200 leaving me at 33% debt to income after rent...but unfortunately, I can't get anybody to help me out.

There has GOT to be somebody out there who can help. Any suggestions on who it might be? I am at the point where I am about to say fuck it and settle my accounts, I mean if having good credit can't get me help now, then what's the big fucking deal in having it?

And if you have advice and would like to pm me instead of posting it here, feel free.

Thanks.
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MgoBlue-LightSpecial
Eternal Scobode
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Post by MgoBlue-LightSpecial »

put ear to ground...
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socal
Prepare to qualify!
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Post by socal »

Let's have a garage sale.

Items?

Fu's $54,000 SUV.

Mikey's BBQ.

Bace's Jessica Alba bobblehead.

Van's guitar porn beanbag.
Van wrote:Kumbaya, asshats.
R-Jack wrote:
Atomic Punk wrote:So why did you post it?
Yes, that just happened.
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GrizBearStare
Elwood
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Post by GrizBearStare »

Viper wrote:There has GOT to be somebody out there who can help.



Image
From the moment we leave the forest, Dan, it's all a givin' up and adjustin'.
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mothster
at moderators discretion
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Post by mothster »

$6,500 monthly gross and no mortgage........

ummmm
mvscals blow monkey spunk
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Cuda
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Post by Cuda »

last time this situation came up, Biggie robbed a message board, btw
WacoFan wrote:Flying any airplane that you can hear the radio over the roaring radial engine is just ghey anyway.... Of course, Cirri are the Miata of airplanes..
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Trampis
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Post by Trampis »

mothster wrote:$6,500 monthly gross and no mortgage........

ummmm
Thats what I was thinking.How do you not have a home at that income.

Didnt want to settle at your age?OK,thne why didnt you save a bunch of that 80k a year for your business startup debt?

Bling bling?
Bad spelling is a diversionary tactic
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JCT
Merciless, suave and collected
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Post by JCT »

Use your business as a front and start selling coke.
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Mike Backer
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Post by Mike Backer »

JCT wrote:Use your business as a front and start selling coke.
Dude would have every stripper in his town on his jock, that's fo sho.
I'm the guy who tossed Mark Cuban's salad by proxy.
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PSUFAN
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Post by PSUFAN »

Get in touch with a credit counselor. Tell him your real income, so he can really help you.
King Crimson wrote:anytime you have a smoke tunnel and it's not Judas Priest in the mid 80's....watch out.
mvscal wrote:France totally kicks ass.
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JCT
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Post by JCT »

Burn it to the ground, collect the insurance.
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TenTallBen
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Post by TenTallBen »

JCT wrote:Burn it to the ground, collect the insurance.

Burn what to the ground?
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Jack
enigma
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Post by Jack »

Listen to 88 and PSUFAN!!

Get professional help!!

http://www.moneymanagement.org/

Good Luck!! You will succeed!!
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Shlomart Ben Yisrael
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Post by Shlomart Ben Yisrael »

TenTallBen wrote:
JCT wrote:Burn it to the ground, collect the insurance.

Burn what to the ground?
I think he's using Deep Purple songs to speak in code.
rock rock to the planet rock ... don't stop
Felix wrote:you've become very bitter since you became jewish......
Kierland drop-kicking Wolftard wrote: Aren’t you part of the silent generation?
Why don’t you just STFU.
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Bizzarofelice
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Post by Bizzarofelice »

socal wrote:Bace's Jessica Alba bobblehead.
I'd be willing to donate the telescope, camera, surveillance equipment, ninja suit and "Say Anything" boom box I purchased in hopes of winning Jessica's heart.
why is my neighborhood on fire
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PSUFAN
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Post by PSUFAN »

Is (!!) this shit (!!) fo rizzle?
King Crimson wrote:anytime you have a smoke tunnel and it's not Judas Priest in the mid 80's....watch out.
mvscal wrote:France totally kicks ass.
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Degenerate
Eternal Scobode
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Post by Degenerate »

Take Michael Ballack at 9-1 to score the first goal against Argentina tomorrow and you'll get better in a hurry.
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MgoBlue-LightSpecial
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Post by MgoBlue-LightSpecial »

Sudden Sam wrote:Contact this guy. He can help you. He makes Donald Trump look like a pauper:

profile.php?mode=viewprofile&u=210
Viper's looking to buy a 2 bedroom 1400 sq foot frat house for $1.4 million?
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Bizzarofelice
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Post by Bizzarofelice »

go back in time and set it up llc
why is my neighborhood on fire
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jtr
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Post by jtr »

my advice to you is never be in debt.
follow me on twitter: jesseheiman
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Y2K
Internet Overlord
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Post by Y2K »

I'm thinking if you are drawing 6+ grand and you business is 68 deep in less than 2 years then your using the company to bankrupt yourself by using a negative profit margin as income. I hope you're incorporated......
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JCT
Merciless, suave and collected
Posts: 2004
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Location: Your Mom's Ass

Post by JCT »

Hire Isiah Thomas to help you run things.
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