I see many articles online about Hard Money Lenders & such...for people with bad credit rating or circumstances that does not allow to go through normal routes for a personal loan but I can't find any of these companies! I have tried the normal route and at this point, I am willing to pay a ridiculous interest rate in order to get my finances/credit in order. Can anyone refer the name of a legitimate company?? Thanks!
Most of the HMLs I am aware of are exclusively investment oriented. In other words, they'll loan money on secured collateral such as a house. They give you 50-60% LTV and base their decision mostly (not completely) on worth of the asset. I don't personally know of any that make consolidation loans for unsecured debt, but I'm sure there are companies out there. Check Craigslist. You get a lot of scams out there, but you might find someone local to you that you can talk with and figure out whether they're legit. Just stay away from the out-of-country ones that want you to wire an up front fee!! ;-)
Stay away from them . . . opt for bankruptcy if need be. Hard Money terms put a whole new spin on the terms unconscionable. In essence, the aforesaid terms compel default.
What makes you think you can get out of a hole by digging it deeper? You can't borrow your way out of debt no matter how high the interest rate. I suggest doing some serious looking at your household budget and it you can't pay the bills, bite the bullet and go BK.
