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What is the Best Way for me to Eventually Eliminate My Credit Card Debt? – Alan

“Dear Steve,

25 Year Old Man
Work for Big 4 Accounting Firm
Salary – $75K
Credit Card Debt – $25K with 18.99APR
High 600 – Mid 700 Credit Score

I have a steady income but do not see a way I can pay off my credit card debt anytime soon with such a high interest rate. What is the best way for me to eventually eliminate my credit card debt?


Dear Alan,

Considering your occupation, debt limit and credit score, the best approach at first would be to look into a debt consolidation loan from A unsecured debt consolidation loan from LendingClub, which is a peer-to-peer lending network, would allow you to hopefully reduce your overall interest rate. If you maintained the monthly payment you are making now with the lower consolidated interest rate loan you’d get out of debt faster.

There are some other approaches but let’s start with that one first. Look into it and let me know what you think.

If you do decide to go the route, post your loan number in the comments below and I will gladly be one of the investors that helps to fund it.

Please post your responses and follow-up messages to me on this in the comments section below.


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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