We Want to Payoff Our Debt Quickly Without Hurting Our Credit. – Heather

“Dear Steve,

We have about 30,000 in credit card debt. We have perfect credit and do not want to destroy our credit score, but we are starting to worry about making payments…we have never been late on payments nor do we plan to be….we are looking for a solution to pay off our debt quickly and painlessly.

Do we do a debt consolodation and risk hurting our perfect credit? Do we call and see if they will reduce our rates? What can we do?


Dear Heather,

The most logical approach is an unsecured, fixed rate, debt consolidation loan through LendingClub.com. LendingClub is a peer-to-peer lending network that has rates lower than most banks. The loan will also be reported to all three credit bureaus so it will help your credit.

Just remember, you can’t borrow your way out of debt but you can possibly reduce the interest rate and reorganize the debt through LendingClub so it is more reasonable for you on a monthly basis.

Please update me on your progress by

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.

Steve Rhode

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