Hey guys, about a year ago my credit wasn’t The best but it wasn’t bad and I tried to get a loan from a couple of banks, I was denied because of debt to income ratio, I have a couple of trucks for the business that I’m still paying off. But with the slow season I’m in landscaping so every winter it gets a little slow.

My business did around $400,000 in sales last year and I paid myself about $80,000. With the wife and kid that’s good money But coming out of winter I thought I’d look online and see the best place to get a loan because the banks won’t. I find a company called fundera which now I know is a broker, totally didn’t know what that was before this.

They told me they have an MCA loan for $33,000 and I’ll pay back $50,000 at $1,200 a week. It seemed doable and is doable because my business does very well. But about a month later I get another call from a broker, which I didn’t know you get calls from hundreds of brokers if you call one, and he says his company specializes in buying out your MCA loan. He tells me if you can make payments on a new loan with us for 5 weeks in a row we will buy both loans combine them and spread them over 10 years. Sounded too good to be true. And it was. After 5 weeks I call him back and they say their company no longer buys back loans not to find somebody else. So now I’m stuck with 3000 a week payments.

So now it’s close to winter again and a lot of the money has been paid back, I don’t think I’m going to make it through the winter if they keep making these payments. I’ve been told if you stop making payments it doesn’t affect your credit maybe you could just switch bank accounts or something? But also read that they can levy your property, which I have none, none of my trucks are paid off. And I have an apartment. So can they levy my bank account if I didn’t pay?

Or better yet now my credit is 728 and the bank still won’t give me a loan to consolidate at any rate. They won’t even give me any loan whatsoever or a business loan. Yet they can see the amount of money coming in and out of my account each month, about 30,000 a month.

I’m so confused what to do because I’ve worked so hard to get good credit, but my good credit isn’t helping me with anything now. So maybe I just don’t pay them and whether it destroys my credit or not figure out something else? Is anybody ever dealt with this?

Talk to my accountant she said just stop paying and switch accounts, I talked to a lawyer But they want $9,000 up front.

I have great credit and make great money, why can’t I get a loan? The loan the bank was offering was $100,000 paid back over 10 years, I don’t understand why I can’t get approved for something like this and other people can?

Would love any advice, links to people who can help