Q&A: i am searching for a personal loan or a credit card but i have a high debt to income ratio.?
January 27th, 2012Question by kelly g: i am searching for a personal loan or a credit card but i have a high debt to income ratio.?
Does anyone know of a loan company or a credit card company that specializes in that kind of loan. My credit score is about 680. I make about 70000 a year but my check only shows about 30000 so i need a company that doesnt check income or understands that i am on i tip compliance with the irs.
Best answer:
Answer by fishlakeguy
As far as a reputable lender is concerned, you make whatever you can verify. A non-reputable lender will generally get you into trouble, financially and legally.
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The way things are going you will never get a loan.
You are going to have to knuckle down, and pay down some debt.
Some people who are paying all bills on time are getting a lower credit score today.
The loan companies are going to take a much closer look.
They will go by your W-2 form, and not what you say you make.
Why would you need a personal loan when you make that kind of money?
Anyway, good luck with finding someone to loan money to you. If you cannot verify your income either by your tax forms or W2 then they will not loan to you (seems like youre looking for a big amount).
pay your debt first to lower your debt to income ratio. try debt settlement. they lower your monthly payments and cut your debt by 50%.
http://www.debtfreeleague.com
Try getting a credit card for balance transfer purposes.
One you have the balance transferred to the new card immediately cancel the old, high APR credit card.
At least this way you can catch a break with a hopefully lower introductory APR on your transferred balance.
But from here on: start making large payments towards your credit card balances and get that balance transfer paid off before the introductory period expires.
I got a loan from a private loan provider to enable me study Business information tech am paying monthly for it i was referred by someone from yahoo answer, send them an email (saadatlender@gmail.com)
referral- Antony Gonzalez
Hope they help you
I guess you will just have to find some one who is dumb enough to co-sign.