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Where Can I Go to Get an Unsecured Debt Consolidation Loan? – Tim

By on March 15, 2010
Where Can I Go to Get an Unsecured Debt Consolidation Loan? – Tim

“Dear Steve,

I have credit card debt that I want to consolidate. No one will give me a loan. I have allot of debt ($25,000 total with car) but I have no late payments. I am financially able to handle the consolidation payment. When the bank credit crunch happened, all my cards lowered my credit limits to just cover what my balance was at the time. Now my credit report shows that I have maxed out all my cards. I’m being screwed big time. I have no equity in the house because property values have dropped in this area of Ohio.

Who can I go to about getting a loan to consolidate this mess? My credit score is about 660.

Tim”

Dear Tim,

The only legitimate place I know of to go is the peer-to-peer lending network at LendingClub.com. The good news is the loans are up to $25K and at a fixed rate and unsecured. That bad news is that the cutoff is a 660 credit score.

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About Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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