https://ficoforums.myfico.com/t5/Personal-Finance/Defined-Benefit-Pension-Loans/m-p/5811750#M136736 <P>Seems like an over-complicated approach, and as you've noticed, the lenders in that market are all bottom-feeders targeting the "convert your settlement to cash!"-type deals.</P><P>&nbsp;</P><P>Why not a standard personal loan (or cash-out refi, if you have any home equity), using the pension income to qualify?</P><P>&nbsp;</P> Sun, 17 Nov 2019 06:04:11 GMT iv 2019-11-17T06:04:11Z https://ficoforums.myfico.com/t5/Personal-Finance/Defined-Benefit-Pension-Loans/m-p/5810414#M136455 <P>I have a lifetime defined benefit pension from a plan rated GREEN, has $3 billion in assets, and is 86% funded.</P><P>Are there any lending entities -- &nbsp;not the high interest scams -- who will lend against the monthly payment, if i have it contractually designated to be deposited&nbsp;in the lender's account each month, and back it with a term life policy?</P> Sat, 16 Nov 2019 00:46:25 GMT https://ficoforums.myfico.com/t5/Personal-Finance/Defined-Benefit-Pension-Loans/m-p/5810414#M136455 Anonymous 2019-11-16T00:46:25Z https://ficoforums.myfico.com/t5/Personal-Finance/Defined-Benefit-Pension-Loans/m-p/5811750#M136736 <P>Seems like an over-complicated approach, and as you've noticed, the lenders in that market are all bottom-feeders targeting the "convert your settlement to cash!"-type deals.</P><P>&nbsp;</P><P>Why not a standard personal loan (or cash-out refi, if you have any home equity), using the pension income to qualify?</P><P>&nbsp;</P> Sun, 17 Nov 2019 06:04:11 GMT https://ficoforums.myfico.com/t5/Personal-Finance/Defined-Benefit-Pension-Loans/m-p/5811750#M136736 iv 2019-11-17T06:04:11Z