“Dear Steve,
I need help with my credit card debt. I owe $20,000. I live in New York State. I only make $35,000 a year. I always pay them every month and on time. I pay about $500 a month with 11% interest.
Is their any good government programs that can help me with this debt. I don’t want to use a credit counseling agency. Could you please help me out or tell me somebody that can help me out. Could you please help me out.
Thank you,
Denise”
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Dear Denise,
So why don’t you want to use a credit counseling agency?
I would find it hard to believe you’d find a better rate with a debt consolidation loan from LendingClub.com. Your 11% rate is pretty good for unsecured credit.
There are no government programs to help you out of debt except for bankruptcy. I guess bankruptcy falls into a government program bucket since it is part of the law of the land.
The only other option would be a debt management plan through a credit counseling agency where, depending on who your creditors are your interest may be reduced slightly.
