Ask The Get Out of Debt Experts Debt Consolidation Loan

I’m Looking to Consolidate My Debt With Capital One and Citifinancial. – Gary

“Dear Steve,

I’m glad that I found your site! Anyway, my cc situation started some years ago when Capitol One,of which I have two accounts,changed my due date for my payment and I didn’t realize it until it was too late. They had already raised my rate and added their service charges. I called and tried to nego. with them but without any luck.

So I was forced to look to consolidate with a loan from Citifinancial with a somewhat of a high interest rate due to the fact of what Cap. One had done to me. I have a Mortgage w/ Bank of America and a Equity loan with them as well.

I am current on everything at present but it is getting harder to stay there. If I could just get these cc’s consolidated and finally be done with them,Icould get myself back on track and begin to live again.

Is my situation doable through you or can you direct me in another direction?


Dear Gary,

If you are still current and your credit score is above 660 you might want to look at for a lower fixed rate unsecured debt consolidation loan. At last glance, 61% of their loans were to help people consolidate their debt.

I happen to be a lender with them like thousands of other people that help to fund the peer-to-peer loans through

If that does not make sense for you then your options are somewhat limited.

I am concerned that you have a home equity loan and a previous debt consolidation loan and worried that you may have been borrowing to live beyond your income. If that is the case a loan really isn’t a way out but instead might be a way deeper into the hole.

With minimum payments already tight the only real and certain way to reduce what you owe is under the legal protection of bankruptcy. You can click here to find a local bankruptcy attorney and go and discuss your situation with them.

READ  Debt Loans and Debt Consolidation

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.


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.

About the author

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.


  • I hate that word Bankr___y. I just think that if I were to consolidate those three, the 2 capt. ones and the Citifi.,that I could manage and avoid the Bankr___y thing. I also am a part owner in the old homestead of which my sister and I will be putting on the market probably the end of next year at which time this whole money situation we be a thing of the past. Its a matter of getting there. The last I checked my credit score (VantageScore/Experian)was 719 and that was on 7/11/10. Please further advise. Gary

    • Try first and see if they can help. Otherwise the only way to legally restructure your debt is going to be with bankruptcy. You’ll need to decide which word you hate less, lawsuit, or bankruptcy.


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