Scott
“Dear Steve,
I make good income (130,000.00/yr) but have three kids and several credit cards from before my pay went up. we have approx 40,000 in debt and the payment are starting to get more difficult. We are still making all of our payments
How can I consulidate all this debt to one payment and pay off quicker?
Scott”
The Answer:
Dear Scott,
If you have a credit score above 640 then you might want to check out LendingClub.com for a debt consolidation loan. This is a peer-to-peer lending network. People all over will pitch in and each fund a small amount of your total loan request, thus spreading the risk over a large group of people.
Once the loan is funded then the money will be wired into you bank account for you to pay off your debts. This will give you one monthly loan with a lower payment.
I happen to be one of the lenders on LendingClub, who knows, maybe I’ll be part of the group of lenders to get a chance to help you get out of debt.
