Author Topic: Help! Alternative to The Lending Club ?  (Read 5433 times)

jemm505

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Help! Alternative to The Lending Club ?
« on: April 26, 2013, 03:06:32 PM »
Hi everyone,
I am new to this site and not sure if this is the appropriate topic to ask for advice or information, but found this site and noticed it has a ton of excellent advice.   I am in need of a personal loan urgently for some personal hardship.  I am a hard worker and have worked at my professional job for over 18 years.  I am single,  own a home  outside of Boston , MA.  and take care of a sick parent.     I have exhausted all avenues of obtaining a personal loan and reached out to a few peer to peer lending sites.   I was just shy of a few points on my credit score  to qualify.    I had an excellent credit history and score of 780 until I made an investment in a business for a family member that went out of business.  I lost my investment and credit. 

I am searching for other sites or alternatives that are set up like The Lending Club that provide people with a lower credit score to be able to apply for a personal loan? 

I  will agree to pay  a very large return (40%) to a lender.     I am willing to work out a payment plan just like The Lending Club.  I am looking for a loan in the range of 6k to 10k and to pay if off within 18 months.  I would probably be able to pay if off in full in February 2014  but would still agree to pay the full interest.

 I am willing to provide any information including  my license, paycheck stubs,  and sign a legal document stating I will pay loan in full under all circumstances.    I am also willing to set up an automatic payment out of my bank account if that is possible.  I have a 401k account and a ESOP account from my work but not allow to access them.    I am also willing to provide proof of my excellent credit score prior to the lost investment.

If anyone has any suggestions or contacts,  I would be so grateful. 

Sincerely,
JM

dragoncar

  • Walrus Stache
  • *******
  • Posts: 9406
  • Registered member
Re: Help! Alternative to The Lending Club ?
« Reply #1 on: April 26, 2013, 03:34:03 PM »
It might be an appropriate question for an established poster, but a first timer raises all sorts of red flags.  So does the 40% proposed interest rate!  Good luck with your search.

Joet

  • Guest
Re: Help! Alternative to The Lending Club ?
« Reply #2 on: April 26, 2013, 03:45:51 PM »
I think this guy will help you, just email him :)

---

Dear Sir,

Good day to you
My name is Joey Jones i am an American soldier, i am serving in the military of the 1st Armored Division in Iraq. I am now in Kuwait in the mean time, I and my partner moved funds belonging to Saddam Hussein, the total is (Twenty Five million US dollars) this money is being kept safe in a security company. Click on this link to read about even that took place here:
http://news.bbc.co.uk/2/hi/middle_east/2988455.stm

Basically since we are working for the American government we cannot keep these funds, but we want to transfer and move the funds to you, so that you can keep it for us in your safe account or an offshore account.

We will divide the total funds in three ways, since we are 3 that is involved. This means that you will take 30 percent, I wil! l take 30 percent, and my partner will take 30 percent. 10 percent will be kept aside for expenses. This business is confidential, and it should not be discussed with anyone.

There is no risk involved whatsoever. If you are interested I will send you the full details, my job is to find a good partner that we can trust and that will assist us. Can i trust you? When you receive this letter, kindly send me an e-mail signifying your interest including your most confidential telephone/fax numbers for quick communication also your contact details.

This business is risk free. Please reply me via this email: sgtjones@rescueteam.com, and sgtjoey@earthlink.net

Respectfully submitted
Sgt. Joey M. Jones

jemm505

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Help! Alternative to The Lending Club ?
« Reply #3 on: April 26, 2013, 03:50:06 PM »
I completely understand the red flags.   I just recently found this site so that is why its my first post.  I was searching for other peer to peer lending sites and this site came up in my search regarding The Lending Club experiment article.   I also realize 40%  puts up red flags as well and that because I saw up to 35% on The Lending Club for personal loans, so my logic was that I would probably have to pay more due to the circumstances.   I apologize that this came across as inappropriate.  I do not want to offend anyone on this site.

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 28276
  • Age: -998
  • Location: Seattle, WA
Re: Help! Alternative to The Lending Club ?
« Reply #4 on: April 26, 2013, 04:09:12 PM »
This is not a lending site.

There is a reason you cannot get a loan from lending club, and it is because they view you as a credit risk.

At an amount of 6-10k, how about using a credit card?

If they also deem you a poor credit risk, why should someone else lend to you?  That's a question you need to ask yourself.

How about saving up your money from your job?  That's what this site is all about - cutting your expenses and saving money.  That should get you the money you need in a fairly quick manner.

Sorry about your parent, I hope everything turns out well.

Best of luck to you.
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

StarryC

  • Bristles
  • ***
  • Posts: 283
Re: Help! Alternative to The Lending Club ?
« Reply #5 on: April 26, 2013, 05:06:54 PM »
You don't say what the purpose of the loan is. You say you have a job, so presumably it is not living expenses.  Is it to pay off other debt accrued due to hardship with the parent or medical expenses?  Then I'd suggest you call some reputable consumer credit counseling agencies or possibly a bankruptcy attorney.  That won't help your credit, but it might resolve the urgent issue.

You say you own a home, perhaps you could refinance or take out a HELOC to get the money?  Or rent out a room? Or the whole house and move in with the parent?

Is it to pay ongoing living expenses that are basic (food, heat, water) or medical expenses for the parent? Then you should probably look at some charity/ government assistance options.  Perhaps you or the parent is eligible for food stamps, medicaid, or other assistance?

Do you own anything you can sell?  The house? A car? Any gold jewelry?

jemm505

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Help! Alternative to The Lending Club ?
« Reply #6 on: April 27, 2013, 07:43:24 AM »
 I realize I made the mistake of thinking this was a site that gave advice in lending, so I apologize for posting my post.   I don't get the joke

arebelspy

  • Administrator
  • Senior Mustachian
  • *****
  • Posts: 28276
  • Age: -998
  • Location: Seattle, WA
Re: Help! Alternative to The Lending Club ?
« Reply #7 on: April 27, 2013, 08:08:01 AM »
I don't get the joke

I don't think there was a joke.  Every post above, from what I can tell, is genuine advice.

Despite us not lending you money, I'd still recommend reading the blog and sticking around a bit - a different mentality on your spending may be what you need to turn things around.  Best of luck with your hardship. 
We are two former teachers who accumulated a bunch of real estate, retired at 29, spent some time traveling the world full time and are now settled with three kids.
If you want to know more about us, or how we did that, or see lots of pictures, this Business Insider profile tells our story pretty well.
We (rarely) blog at AdventuringAlong.com. Check out our Now page to see what we're up to currently.

jemm505

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Help! Alternative to The Lending Club ?
« Reply #8 on: April 29, 2013, 08:20:51 AM »
Dear  arebelspy,
I  do appreciate your feedback and all other posts.  My "I don't get the Joke" was a reference to Joet's  post,  as  I was  a little offended by it.
I do think this is a great site to learn and educate myself with how to work towards goals.
I know its not hopeless as I have a great income, home, and a few investments (ESOP and retirement fund).    I will take your advise and will read the blog and stick around.
Thank you!