Does Your Program Damage Our Credit Rating? – Ruth

“Dear Steve,

My husband and I both work…. have gotten into cc debt a couple of years ago with oil pricing going over the top and apartments that needed heating. We have not used our cc’s in just about 1 year. We have taken 2 Citicards and turned them into a no interst loan but have a few more that are not as easy to convert.

How do you get paid? Does your program damage your credit rating?

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.


Dear Ruth,

I think you might be slightly confused. I don’t offer any programs. I give advice for free.

If you are looking for a way to consolidate your debt that will not hurt your credit I’d suggest you look into the programs offered by the person-to-person LendingClub.com services. A debt consolidation loan through LendingClub.com will be for three years at a fixed rate of interest.

Repayment of your loan through LendingClub.com can actually improve your credit rating since your repayment history will be reported to the credit bureaus.

Please update me on your progress by

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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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