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No Collateral Bill Consolidation Loan – $120,000 in Las Vegas Nevada


Bill Consolidation Loan for $120,000 – No Collateral

Why do you need a loan?: I have included all my bills and expenses so will see that I’m being honest about what I owe to these bill collectors. I need 120,000 dollars in a loan to pay off all the companies and lenders as listed. Please consider my loan application seriously because I can afford to make all my payments in full. I would like to pay back the loan with one low interest payment at the end of every month. My husband and I are both responsible people and we will be good borrowers, even though we don’t have any collateral to secure this loan.

Collateral?: No

If for Business, tell us a little about your business: No – this is a consolidation loan to pay off all of our bills.

How Much Do You Want To Borrow?: Between $100K – $150K

Length of Employment: Over 2 Years

Time at Address: Between 18 – 24 Months

Age: Over 25

Anything else that would help us get your loan approved: We really need to get our bills paid off and get our finances under control. Please consider approving our loan as we are desperate to pay off all of the bill collectors. We’re really tired of answering the phone and talking to bill collectors. It’s really stressful these days because of the bill collectors being so mean on the phone and sending all of their final notice letters.

Sex: Female

Marital Status: Married

Ever Claimed Bankrupcty?: No – never

What Country is Your Primary Address: United States

What City and State is your primary address in?:Las Vegas, Nevada

Checked your credit report lately?: Yes

Would you consider your credit rating to be?: Poor

Down Payment?: No

Do you a have co-signer or co-borrower?: Yes

Employment Industry:I work at the Flamingo in Las Vegas as a blackjack dealer and my husband has his own company and installs customer kitchen counter tops. We have always been gainfully employed and will be able to make our monthly payments no problem.

No Collateral Bill Consolidation Loan – The Data

We did something a little bit different here today with this bill consolidation loan. We started the post with the actual application form as presented by the applicants. The application for bill consolidation was made by the lady of the household, but really it’s a joint application. They need over $120K to pay down all of their outstanding debt(s).

You can see be the raw data here that these consumers are REALLY consuming, and are spending far more money each month as compared to what they are earning. In the table below you can see how out of hand it has gotten for these folks. We have created a table from their attached bill data. Their submission was quite messy and unorganized – this is much better now.

We are going to show four parameters of their outstanding bills;

  1. The type of bills they have on a monthly basis (column 1)
  2. The monthly bills they have owing before the consolidation loan (column 2)
  3. The total owing in arrears to the bill collectors presently (column 3)
  4. Their monthly bills after the consolidation (column 4)
1. 2. 3. 4.
Type of Bill/Debt Monthly Before Bill Consolidation  Total Owing/Arrears Monthly After Bill Consolidation 
Car Loan Payment  $450  $18,000  $0
Apartment Rent  $1200  $1200  $1200
Student Loan Bill  $560  $80,000  $0
Gas Bill  $110  $270  $110
Water Bill  $154  $290  $154
Electric Bill  $115  $560   $115
Cable T.V. Bill  $120  $253  $120
Cell Phone Bill  $500  $1300  $500
Personal Loan Payment  $250  $880   $0
 Visa Bill  $110  $3300    $0
 Mastercard Bill  $80  $2100    $0
American Express Bill $54  $1400    $0
Totals Before Bill Consolidation = $3703  $120,353  $2199

Looking at the bills our applicant(s) have outstanding and in arrears begs the question,

“How did they let their personal finances get so bad in the first place?”

I don’t honestly know, but I understand the situation they are in, whether by their own design or by no fault of their own. The main thing here is to find them a low interest consolidation loan ASAP so they can pay off all the debt collectors and reduce the stress in their lives.

Most debtors in this situation can’t even sleep well anymore, and our goal at CLF is to help them find debt relief with a lender that is fair and reasonable with their APR and lending terms.

In total these debtors are owing bill collectors just over $120,000 dollars, and they are paying out just under $3700 dollars a month in bill payments. This includes credit card bills, student loans, and your run-of-the-mill monthly bills as well. Take special note of the fact that they are not building any home equity at all – they are giving up over $1200 a month to their apartment landlord instead of that being a payment on their own property (mortgage). Not good.

No question that getting approved for a consolidation loan for $120,000 will clear up their arrears, but it will also clear up all of their biggest debts – student loans as the prime example. Also notice that even after they have paid off their biggest debts, they still have $2200 a month in bills and rent. They must stay gainfully employed – and below you will see why.

The Loan – The Bills – The Consolidation

Now we handle the actual bill consolidation – in this case for $120,000. We’re using a local lender in Las Vegas who is a private money lender. His terms are as below;

  • Principal of Bill Consolidation Loan = $120,000
  • Interest on Consolidation (APR) = 12%
  • Length of Entire Consolidation Term = 20 years/240 months – payments
  • Payment Schedule = monthly

You may be asking why these debtors are willing to pay a private lender a 12% interest rate on the note – they have no choice, because they have no collateral at all, and they have no security on the loan. Their credit rating is poor as well. I think I remember their FICO scores both being below 600. They’re lucky this lender is even willing to go lower than 15%. We’re almost at a hard money loan category at this stage of the game.

When we put this bill consolidation loan together we come up with these results;

  • Total be paid back to private lender: $264,592.32
  • Total amount of interest: $144,592.32
  • Payments: $1,087.37 (monthly)

So now….assuming that these borrowers were to be approved for their bill consolidation, we have to consider how much they need to earn each month to cover all their bills and expenses, and NOW this monthly payment to the private lender. Let’s DO THE MATH!

  • Bill Consolidation Payment = $1,087
  • +
  • Ongoing Monthly Bills and Payments = $2199
  • = $3286

The now need to earn at least $3286 to be up to date on all of their monthly financial responsibilites. Take another special note that our billing data never includes other living expenses, such as entertainment, extras, surprise repairs and breakdowns, traveling, holiday money, money for gifts to friends and family, child expenses, etc.

These debtors would be wise to now go and get a mortgage on property so they are not flushing anymore money down the toilet each month on rent to a landlord, and they would be smart to cut down on their monthly bills. A perfect example would be their cell phone bill – is that really necessary? I don’t read anywhere in their application form that says that either one of the applicants are Real Estate agents!!!

So that sums it up. That is our bill consolidation loan for this couple living, working, and SPENDING in Las Vegas, Nevada.

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47 Pre-apps

  1. Carol Bailey wrote:

    My debt to income is high so I just want to pay off bills and get back to normal.

  2. Carol Bailey wrote:

    I need to borrow about 15,000. I live in Virginia. As soon as possible.

  3. Cheryl Davis wrote:

    Need to borrow $55,000 to pay off loans and credit cards. No payments in arrears, good credit score. Spouse and I both retired. Income $80,000. Would like to consolidate to make payments more manageable. Own home, but current value is less than what is owed.

  4. Cheryl Davis wrote:

    I live in Florida. We need an unsecured loan of $55,000. All debts paid on time, no missed payments, ever. Not in a hurry

  5. ed roberson wrote:

    I currenlty live in Southern California and am looking to eliminate all of my debt. To eliminate this would require a loan amount of 29,500. I would like to repay this amount over a two year period with 52 payments, a payment on each of my pay periods which could be set up to be automatic.

  6. John Brosnan wrote:

    I need $100,000 to pay off bills and credit (2 car loans about 60,000 between the 2, credit cards and put money back into my pension from which i borrowed) I own a home and currently am falling behind on monthly mortgage payments. Getting rid of my extra expenses and consolidating my debt would greatly help.

  7. ryan wrote:

    In need of a 45000.00 loan 4 year monthly payments to pay off credit card debt. Credit score is in the 660 range. Have been employed at same job for 8 years, own home but not enough equity to refinance that dollar amout. Any help would be great. Just trying to get back on ny feet. Thank you

  8. LaShanda wrote:

    I desire to clean up all my debt and bring financial balance back to my life, this will take a while, but instead of keeping up with several debts and paying them all monthly I would rather decrease who I pay down to one source, this will release stress in my life and I will just have to focus in working the two jobs I have and taking care of my children for Thr next four years. Please contact me if you can make this a reality for my life.

  9. Wayne wrote:

    ALOHA looking for a lender to approve a needed $130,000.00 personal loans..to pay off 8 instalments, 3 student loans , taxes owed…by decmeber 2013…i very much appreciate youR much needed help…MAHALO IA OE….

  10. Julie wrote:

    I reside in NV.
    I own my home. Current on payments
    I would like to repay loan over 2 years
    Been at my job 5 years
    Prior job 22 years
    Would like a loan by the end of this week if possible.

  11. Becky wrote:

    – how much you need to borrow: $30,000
    – what type of loan product you need: debt consolidation
    – what City and State you reside in: Virginia Beach VA
    – what your credit score numbers are: between 560-600
    – how quickly you need the loan: asap

  12. Debbie wrote:

    I am looking for a 40, 000. No collateral loan. I would like to pay off 8 installments, car, back taxes, a 2, 000. personal debit, 2 credit cards. This would make my life so much easier only having one payment instead of trying to juggle payday loans etc. Then all I would have is my rent, cell bill, my moms phone bill (helping her out fixed income and since my dad died 3 years ago its hard for her) and my loan pymt. I’m single, been at my job for 25 years my credit score is poor I know its not good but I’m really in need of getting my life in order. If someone would be willing to loan me 40, 000 at 18% for 15 yrs at a monthly pymt of 517.00. My life would become stress free. I am in need of this loan asap. I want the year to get started right. I would appreciate any help I can get. Thank you very much, Debbie

  13. keith wrote:

    I would like to borrow 71,000. School loans are around 68,000 and change.I have been at my job going on 14 years. I got my house about 4 years ago. The value has gone up. I
    I live in Las Vegas. House payments are low. My credit score is 645(checked within two weeks). I would like to pay school loans ASAP

  14. brett wrote:

    need to borrow 130000 to pay credit cards and personal loans that have gone in the arrears do to an internet scam. I have my credit is currently in the 500 range but prior to this incident was in the mid 800’s. I have some collateral including my house and an account with 100k plus in it that I can not get into for seven years. I would like a flexible payment plan and will pay the balance of the money off when I have access to the 100K account.

  15. Maria wrote:

    I am looking for a $45, 000. No collateral loan. It would much easier to have one easy monthly manageable payment instead of making high interest payments on loans.

    I’m single, age 55 and have been at my current job for 25 years my credit score is between 650-700. I had thought about resigning and cashing out my Retirement funds, but do not really want to do that. I want to work and get this Debt paid off ASAP so I can enjoy a a worry free Retirement.

    I would appreciate any help I can get. Thank you very much, Maria

  16. Belinda wrote:

    My name is Belinda. I need to borrow 110,000 as soon as possible. My fiancee is a construction engineer and he flew to Ajman, UAE, to do a job. He is finished with the job, has been issued the checks and now cannot leave the country until the hotel bill is paid. The bank that issued the checks will not allow me to deposit them to my account, so neither of us has the money to pay the hotel bill and he cannot leave the country, they took his passport, to come back to the states to deposit the checks into his own account. He has 4 weeks to settle the account or else. We have the money but don’t until he returns. Please help.

  17. Jeff wrote:

    1)I need to borrow $130,000.00. This is a genuine plea, i will pay back at an interest rate of 25%-40%. I will get a second or third job to make this possible. We can have a legal contract drawn up by your lawyer or you can hold everything of mine until I pay back the 130000. You will never regret this, but I may never get a chance to ask again.
    2) Any type
    3) Midland, Texas
    4) 700-720 (Experian, transunion, equifax on creditchecktotal.com)
    5) Deadline: 8:00 p.m. Cst on Saturday April 18,

    I do not really believe anyone on here is loaning that type of money, but please help me if you do know someone.

  18. Wilfredo wrote:

    I’m looking for a 70,000 loan to consolidate all my bills. I’m currently able to pay them but the interest are pretty much taking it.

  19. Clay wrote:

    I need a $150,000 debt consolidation loan. I have a good job and make $90,000 per year. I just got done with a bad divorce and custody battle. Once my bills are consolidated I can afford $2000 per month to payback the loan. My credit is in the low 600’s. Looking for a new chance to get on my feet.

  20. ARVIND wrote:

    WE NEED 5 MILLION BORROWING
    FOR 20 YEARS
    FOR RESALE OF FUELS ( PERTRO PRODYCTS)

    NO COLLATERAL

    Thanks – Arvind

  21. Lisa wrote:

    Would like an no collateral loan of $92000 to pay off loan and all credit cards. No payments in arrears, credit score low 700s. Income upper $80Ks per year. Work full-time in healthcare in Virginia. Would like $92K at 10-12% interest to pay monthly payments, pay off in full 8years.

  22. Colleen wrote:

    I am opening a home based telecommuting business. I need to pay off some small loans, buy equipment, office furniture, office supply’s and money for food and bills till I am up and going

  23. Siaosi wrote:

    I need a 120,000 loan to pay all my debts off. tired of paying loans and also need to clear it all out so i can get back on my feet and live debt free. As my creditors are calling me every week for payments which i don’t get enough to pay other of my debts so i pay partial which i don’t like. Reside in Honolulu Hi, and knowing this state no work you will be out homeless. i have kids to take care and with a lot in hand like bills and kids school bill and mortgage and loans it’s hard. So i would like to have this loan ASAP to pay it all off so i can live free with my family. My work told me that they will let me go with in 3 months. PLEASE PLEASE I REALLY NEED YOUR HELP THIS LOAN AS SOON AS POSSIBLE

  24. Trayce wrote:

    In need of personal loan in the amount of $10000 to consolidate bills and finish graduate school. Monies needed immediately to sustain family.

  25. Mark wrote:

    Hi,

    I am looking for a no collateral or personal loan of $90,000.00 to pay off all credit cards, a Lending Club loan and an existing personal loan.
    Located in the Charleston-Huntington area of West Virginia, my credit score is 699-700.
    My payments are current on these, but I want to lower my monthly payment by consolidating into one loan.
    My income from all sources is $80,000.00 per year.
    I would like a 7 year loan from 8.99 to 12% with a turn around time goal from application to funding of 1 to 2 weeks.
    Am open to suggestions.

    Thanks!

  26. A J wrote:

    I am in need of $80,000 ASAP (like today) to pay for some unexpected maintenance and labor costs which have been looming over my head the past few weeks. I am willing to pay interest but would need a long term loan. My credit is not the best (525) due to a past relationship. I am now trying to rebuild my credit, pay off all my credit cards, and start rebuilding my life. Can someone help me today? I am in a serious bind – no scams, just need an honest person to help me. Have enough income to make decent payments. I live in OK.

  27. Julia wrote:

    I am looking for a personal loan to consolidate all of my debt into one payment. Amount is $160,000. My credit is around 700, and I live and own a home in Chantilly, VA with some equity (approx $100K to $150K). Once this is consolidated, my only payments would be my mortgage and car. Please contact me if you have available loan to offer. Thank you.

  28. Ozzie wrote:

    Hi I am looking for a loan for $15,000 to pay off back taxes and credit card debt my fico score is 590 and never late on any of my accounts. Just want to get a break and get a unsecured loan to pay off my debt. I have been at my job for over 10 years and would like the loan for at least 4 years to pay around $300 a month for the loan. Thanks for your time and patience. Sincerely,Ozzie Meyer

  29. Terry wrote:

    My family and I would like to borrow $120,000. This would include our student loans, payday loans, and credit cards debts, pay off car, and start to get on our feet again. This would help us financially. I have been sick and employment have been rough in last couple of years. I have a great job and doing very well. We reside in Richmond Kentucky. Due to my illness, and the employment status our credit score is very low 560 range. We need this loan as soon as possible. I am in the process of finding another job. I appreciate the help and willingness for us that just need a little bit of help to get through this rough patch.
    Loan Calculation Results
    Total Amount to be payed: 360987.20
    Total amount of interest 240987.20
    Payments: 1483.51

  30. MARIA wrote:

    IM LOOKING TO BORROW 125,000 TO PAY OFF MY BILLS AND PURCHASE A GRANITE AND MARBLE BUSINESS WITH MY HUSBAND

  31. Klaus wrote:

    My name is Klaus and I live in Riverside County, California. I would like to borrow $80,000 to pay off medical bills, student loans, and a home improvement loan. My budget is starting to get really tight and I’m starting to realize that I need a debt consolidation loan with lower interest rates and hopefully longer loan terms. I am interested in a 10-15 year loan term to keep the monthly payments affordable to give me room to breath and live peacefully. I’m make $5,708 monthly and I’m certain I can keep up with a loan of this amount and loan terms of this length.

  32. Grigor wrote:

    Hello, my name is Grigor and I am looking for a loan up to $200K to pay down high interest cards and loans while also starting a business that is secondary to my current job. I am a portfolio manager for a large investment firm and have a gross monthly income of 8750. just looking to consolidate and expand on a side income.

  33. Michelle wrote:

    Hello am called Michelle by name a citizen of the United State of America i want to testify of the good Loan Lender who showed light to me after been scammed by different Internet international lender, they all promise to give me a loan after making me pay a lot of fees which yield nothing and amounted to no positive result. kindly contact Mr Franklin Loans on (franklin_smith@outlook.com) i believe other people are also giving testimony on this same honest lender.

  34. george wrote:

    Hello, my name is George. I live in Ga. I am looking for a loan of $2000-$5000. I have a gross monthly income of 4700.

  35. Jeannie wrote:

    I am in need of 122,000 to pay off student loan debt and a previously owned business that I still owe money on. A consolidation loan would allow for my debt payments to be cut in half by only paying on one debt rather than a bunch of extremely high interest debt. Credit score is around 670 and income is good. The stress is overwhelming and affecting my health and relationships.

  36. David wrote:

    I am looking for an unsecured loan from $5000 – $10,000 to help with a business start up and to consolidate some bills. Am willing to pay a higher interest rate.

  37. Ryan wrote:

    Looking for a consolidation loan for 22000 at a very low interest rate of 8% or lower to help get some high interest credit card and loan paid off faster while fiance finishes her last 10 months of school so we can be better set to get into our own house in about 16 months down the line and make payments easier while she does clinical. we have a good budget set and have no problem paying the bills but hate the crazy amount that is being wasted towards interest and balances never going down. our daughter will be going to preschool in about 3 years and i would really like to have all credit card and loan debt paid off so we can afford to send her to a good school and better her future with the best tools. thank you

  38. Jose wrote:

    I’m currently looking to consolidate all my bills. I’m currently joint on my dad’s mortgage and heloc. I’m paying both those loans anomy current credit cards and loans. I’m looking to get everything on one payment plan. I’m looking for a no collateral loan for 300k for bill consolidation. I live in new rochelle, new york. My credit score is 695. I would like a low interest loan for 13-15 yrs. Thank You

  39. Patrick wrote:

    I have about 60000 in unsecured debt. With about 47000 of which is in high interest peer to peer loans. I pay all my bills on time, credit is in mid to high 600s. I would just like to get a more reasonable monthly payment, so I can start saving money for future. Very reliable and good career make 84000 year. Please consider helping and making some money while you are at it

  40. Dale wrote:

    Looking for a loan to consolidate debt. High income, but low credit score due to Short Sale in FL. Was able to afford to make payments, but had to miss payments in order to qualify for the Short Sale. Credit was damaged as a result.

  41. James wrote:

    I am trying to get all my bills consolidated to one low manageable payment so I can finally stop robbing peter to pay paul. I have a great job and great payment history, but everytime something out of the ordinary comes up, I have to put it on a credit card, or get a small personal/collateral loan. I make enough money to just get by, but I cant afford any emergencies by sending my money out 30m different ways. I can easily pay back a loan in 10 years or under, I just need someone willing to give me the chance to do so. Everything that can be paid off, I owe approximately $150,000, of which about $60,000 is on a credit card. I just want to be free of debt and I am looking for someone to help me in this. My FICO score is in the low 600’s, but only because of my debt-credit ratio, I am 100% on time with all my payments as far as my last credit score I checked, my wife and I both work and make decent money, can someone please help us out.

  42. Roger wrote:

    I am looking to borrow 100000.00. I am wanting to consolidate my bills, purchase a vehicle. we are recovering from medical expenses from my wife’s cancer, as a result of this we got behind, because of expenses that insurance company did not pay, and our only vehicle was totaled. As a result our credit too a hit, and we have no collateral to put up.

  43. Cindy wrote:

    I’m a single mom, great job. Make about 110k /yr. debt to income is about 38%. I have about 25k equity in my home. I need a short term 1-2 yr equity loan for home improvement. Tried to get conventional heloc loan but my score too low (617) I won’t bore you with details why but bad choice in men and bad timing in property investments. I Need loan and about a year to fix credit and can refi loan with my bank (Chase). Unfortunately it would be about 110% LTV. I was hoping this is something that you would take a chance on? Need 50k for home improvement/repairs and little debt consolidation. About 10k of debt. And honestly, I want to be able to take my 7 n 11 year old boys on a vacation this summer. Chase bank does 125% LTV second mortgages and in about a year I could refi and pay off loan. Hoping this is something you would consider for a single mamma and two amazing boys.

    Thanks for reading

  44. Sliver wrote:

    Hello – I am looking for a loan amount of $80,000 to consolidate high interest loans. I have a stable job for 20 years and can afford payment of $2,000 a month.

    I NEED THIS LOAN APPROVED TODAY!

    -Thank you

  45. Brandy wrote:

    Need 5000-10000 loan immediately to consolidate bills and high-interest loans. Can pay back quickly or long term, whichever is preferred by the lender. This would be my only payment after so I will not have problems paying. Please help

  46. Kathy wrote:

    Need a $40,000 loan ASAP to get full mouth dental implants. Teeth have failed and insurance does not cover this procedure. Have a good paying job at a medical device company. Before getting this new job a few years ago I lost my job in December of 2009 and was out of work for over 1 year. Can make payments … not a problem.. Just need someone to help me out on this. Thank you and God Bless

  47. Calvin wrote:

    Hi I would like to borrow totaling $45,000.

    – This will be a debt consolidation loan to pay off car/personal/credit card debts.

    – Las Vegas, NV

    – Low 500 credit

    – I need this loan ASAP please.

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