zlinedavid89 (OP)
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October 01, 2015, 08:32:38 PM |
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Apologies in advance for posting this. I know that posting in this forum on a brand new account will invite skepticism and negative feedback, but I am left with no other choice.
Personal background on me: 33 years old, college graduate from a reputable university, working professional, fiancee/2 kids together/0 other kids between us. No gaps in employment from 2005 until July of this year.
In March of 2015, I filed for Chapter 7 bankruptcy (I know....pay your bills deadbeat....). I had been carrying around a huge amount of credit card debt since college, and had been doing nothing but treading water. Payments were current up until the last few months leading up to the bankruptcy, and my credit was relatively good (FICO 715-725) despite the revolving debt. In July, my bankruptcy was discharged, and one week later, I lost my job. Long story short, there was a lot of tension between the director I reported to and myself. I was let go, and a few weeks later, so was he.
Despite not having the credit card debt, losing 60% of our household income was a huge blow. We cut back to the bare minimums, pulled our kids out of day care, etc etc. We kept afloat, but fell behind on some payments, namely my car payment and my car insurance.
On September 14, I started a new job. That evening, I was involved in a car accident. Fortunately, nobody was injured, but I am now responsible for the repairs to both vehicles, which totals about $14,000 USD.
I've exhausted all options with family and friends. Our home is in my fiancee's name only, and we are just barely above break even on it, so HEL/HELOCs are not an option. We didn't have any savings/retirement, as we had been trying to put everything we had towards the credit card debt. My fiancee is currently carrying a lot of graduate student loan debt (graduates 2016), so personal loans aren't really an option for her. Banks/credit unions have denied me based on my recent bankruptcy, and the higher interest personal loan places won't loan to me based on just starting my job and the late post-bankruptcy payments.
What I'm looking for: a loan of $14,000/58.5BTC, repayable over 4 years at 15% annual interest, compounded monthly. I know that is very low compared to a lot of the short term loans being offered in BTC, but I'm hoping there's someone that would be willing to trade some short term gains for some steady, long term returns.
What I can offer: I can offer the potential lender the only piece of property I have, and that's adding them as a lien-holder on my vehicle. I'd be willing to do this in the official and legal way, which involves a $22 fee in my state, which I will cover. The title is not free and clear, but will be in less than one year. To start the process, I can also offer the first month's payment (approximately $300) in escrow.
I'm also willing to provide documentation as to anything I have just written, just as I would to any bank/financial institution. That includes credit reports, proof of income, proof of purpose of the loan, etc. The only favor/assistance I'm looking for is looking at me as being worthy of the risk. The rest of this, I want to be a standard business transaction, with appropriate compensation for the risk.
If this is something you'd be willing to consider, I could promise you that I will not let you down. I just want to have the chance to do what I was wanting to post-bankruptcy, and that's build a more stable financial future for my family.
Again, apologies, as I know this will invite potential negative feedback, but like I said, I am out of options.
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