Where can I find a company to give high risk loan?

Question

I am currently a grad student and during my undergraduate career, I ran up alot of credit car bills. I am in debt consolidation but that is not resolvong my problem. If anything, it is adding to my problems. I have a good job that could take care of my bills if I could see a whole check but I always end up overdrafting my account, eating up every check. My job requires me to work long hours, so I can not get another job becuase the hours are incapatibe and I don't want to have to drop out of school. I am desperate for a solution. If I could pay my bills off and pay one person back, I'd be good to go.

Answer 1

Visit this site
http://www.mycreditadvise.com
and you'll find many types of lenders that can help you.
Good luck.

Answer 2

I really would NOT recommend it, but some companies that do high risk (high rate) loans are Household Finance, Wells Fargo Financial, American General, Beneficial, CitiFinancial, etc. These companies are called consumer finance companies. They borrow the money that they lend, and added to the risk, their rates are higher. If you choose to work with these companies, be very careful about their sales techniques. They'll try to sell you insurances of all sorts (all are NOT required and usually useless and overpriced), and cross-sell you other lending products like line-of-credits, credit cards, or mortgages. Avoid these so that you do not ADD to your debt.

Before making that move, though, consider alternatives. If you have a choice of keeping a 17% credit card or getting a 24% loan... use your head. It won't benefit you to get the loan. Not to mention, the payment will probably be higher on the loan. Other options are controlling your payments or consumer credit counseling.

Controlling your payments is the first try. Here's a quick tip to help payoff multiple debts. Write down all the debts your owe, in order from lowest balance to highest balance. Next, write down the MINIMUM monthly payment required on each. Lastly, write down how much you can afford to pay on these debts per month. The little-known secret is to make the minimum payments (yes, the lowest payment you can do without being charged a late fee) on everything except the smallest balance account. Apply everything remaining on the smallest debt each month until its paid. Then, once its paid off, use all that overage on the next-smallest account. That is how you can eliminate your debts the fastest.

Its a misconception that you should pay extra on each card, because you are really spinning your wheels, and not seeing the rewards of your labor. You see the rewards my way when each bills in paid off.

Good luck, and cut up those cards!!!

Answer 3

www.prosper.com ; their business plan is designed for this kind of situation. They have created a market similar to eBay to connect lenders and borrowers. You post your scenario and how much interest you're willing to pay and then the individual investors determine whether they'd like to take your loan. Check it out.