I Need Good Advice for My Debt. – Todd

“Dear Steve,

I am a divorced father of two that is in debt and needs to get out in order to have some normalicy in my life.

I owe less than 10k in unsecured debt plus have an outstanding car loan. I want to keep the car loan separate and find a decent solution to get out from under the debt load. I am behind on almost all payments currently. I am strapped for cash due to the divorce settlement, but can’t contest it either because I can’t afford to pay an attorney. I only bring home about 350 per week currently. I am looking for information on debt consolidation loans and where to go to look for one and what to ask in order to not get hit with large excessive fees or be scammed out of more money.

Thank you,


Dear Todd,

The only legitimate unsecured debt consolidation loans I know about are from peer-to-peer lending groups like LendingClub.com. With LendingClub, people like you and me make loans to people like you and me and they administer and facilitate the loans.

If you decide to go the LendingClub route I can even be an investor in your loan.

However, a debt consolidation loan is not guaranteed. it will be dependent on your credit score and current financial situation. If LendingClub turns you down then anyone left to offer you a loan is probably a scam. There are loads of the scammers in the debt consolidation loan arena since they see it as an easy way to take money from people without ever giving a loan.

Since your monthly payments are not affordable and you are behind on them if the LendingClub.com route does not work out for you the most logical path would be to either click here to find a local bankruptcy attorney you like or just let the cards go and focus your efforts to pay down what you can using the debt snowball approach.

See also  My Husband Left and I'm Drowning in Debt. - KJ

Your situation after a divorce is not unusual at all but that doesn’t make it any less stressful knowing that.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Damon Day - Pro Debt Coach

Steve Rhode

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