Hello to everyone at OLF, and thanks for letting me vent a little bit on your site regarding my financial plight. Our family has been spending close to $1400 dollars a month more than we have been able to earn with all of our family income.

My wife was laid off from her job in a warehouse, and had to find other work serving food in a local choke and p*ke. Her earnings even after tips has left us behind, on top of the fact that we have some uninsured medical bills that are costing us around $850 dollars a month in total. So you see how we got to this bad place financially.

We tried selling our house but the market is SO bad right now that nothing is moving, and if we lowered our price enough to sell it, we wouldn’t be any further ahead, and still have the same mortgage payment to make each month.

Our total debt owing when we calculate all of our credit cards, lines of credit, bank account overdrafts, personal loans, student loans, medical bills, department store cards, and Chevron Texaco cards, is a crazy $48,783.23! We’ve had friends and family try to make us feel better about it by telling us that we are not alone in our plight, but really it’s just stupid home much stress we have had in the last two years.

Thanks to this nasty stock market crash of 2008 – and there doesn’t seem to be any sign that the recession is going to be over any time soon. Oh sure….the “experts” keep saying that the markets are roaring again, and that the corporations a have trillions of dollars in profit they are sitting on, but they don’t have any intention of sending that money to the middle class any time soon either. By the time they start creating good paying jobs (if they ever intend to) our family will be living below the poverty line. It’s very scary.

I’m almost ready to start looking for more lucrative work out of town, and I had a line on a better paying job in Canton, OH, but I just couldn’t bring myself to start commuting and tearing our family apart.

So I am pleading with any lender that is FOR REAL to consider lending us between $5000 and $50000 dollars. The reason I say 5K to 50K is because we have a critical need to pay the bank back for overdue mortgage payments, and secure our home to avoid foreclosure, but if we could find a lender or bank in Ohio (or elsewhere in the Country) that will lend us $50,000 then we would be able to pay off all of our bills and have a fresh brand new start. I pray that this will happen!

Is there any chance of this, because both my wife and I have really bad credit ratings due to our dwindling earnings and rising debts. We could afford to make a small payment each month, so I need to pay monthly installments of under $1000 dollars if we could. After we consolidate all these debts we would have a much better looking DTI and this payment would be no problem for us even with our existing income. I have tried going online to find a fair APR and some debt consolidation, but it’s been tough finding a company that will truly help us out and not fleece us yet again.

We don’t want any hard money loans or deal with any loan sharks – we just need a fair company to do some business with us. It’s not like we are hopelessly unemployed or anything like that. We want a lender that is highly regarded with the Better Business Bureau and we are able to make this a secured loan using some home equity we have left. We used your calculator and we can make the payments, just to remind you.

Anyway, send us some more information when you can, and I just want to thank that girl working for you (Candice). She was very friendly, understanding, and helpful. We truly appreciate being treated like “human beings” again. Some of the lenders out there are downright rude and ignorant when they find out your credit score is really low. Both of our FICO scores are below 600 and not a single lender in Wooster or nearby will approve us on a personal loan for debt consolidation purposes. We got our credit score reports with Experian, Transunion, and Equifax just last week – a very sad story indeed.

We need to get a loan before spring.

Sincerely,

Bert (last name removed for privacy)

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