so i’m looking to consolidate all of my credit card debt into one installment loan…roughly $ 10.5K or so spread over 4 cards. i received some mail over the last month or so from both best egg and lending club, so i did some research on each, which brought me here.
i applied for a loan through lending club and was approved rather quickly for $ 11K for 36 months at 18.99%. the APR is not that big of a factor for me since i would pay it off over the next 6 months. the “funding” step was checked off and they asked for my 2014 w2 statement as well as my last two paycheck stubs. this is where things get a bit tricky for me: i had a full-time job from 2007-2014 but quit that job in late 2014 in order to become a real estate agent in 2015. i went in their eyes from being “employed” to “self-employed.” i could not provide paystubs that stated how much gross income i’ve made so far in 2015 since the paystubs only show the amount grossed for each individual deal nor could i provide a 1099 from my present employer since the 2015 fiscal year is not over yet. i asked the lending club customer service center if there was anything i could provide to them from my present employer that would state how much i’ve made so far in 2015 and they said no. because of that, my loan was then declined.
my question is this: would anyone here know of a peer-to-peer lending company like lending club or perhaps another institution that would assist in providing an installment loan to pay off credit card debt to someone who has been working for less than a year as a self-employed individual?
a quick breakdown of my credit:
chapter 7 bk discharged in march 2010. no late pays since then (68 months and counting). experian is at 659 and only one inquiry in the last 24 months (amex in february 2014).
i appreciate any assistance you may provide. thanks!