Ask The Get Out of Debt Experts Debt Consolidation Loan

Is There a Way to Get a Loan to Consolidate Our Debt? – Denise

“Dear Steve,

Making payments to credit cards on time, just have too many and want help to consolidate to make monthly payments lower. We have around $65k of debt—not including mortgage.

Is there a way to get our debt consolodated? We refinanced the house and other debt 6 years ago so I know our debt to income ratio is too high to do that again. We just want to consolidate the credit card loans into one so our payment is not so flippin high!!! Never miss a payment and never late.


Dear Denise,

The only lender I know of that makes regular unsecured loans to consolidate unsecured debt is LendingClub is a person-to-person lending network that allows people to invest in the loans of others.

People who borrow money through do so at rates lower than is typically available from a bank, if the could find one, to make a similar loan.

The downside is the loan limits are about $25,000 so it would not take care of all of your debt but you could consolidate your most expensive debt down to a much lower rate.

I happen to be an investor through so if you do decide to go that route, come back and post a comment with your loan request number and I’ll help to fund your loan.

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.

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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.

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