Best Debt Consolidation Loans

Finding a legitimate debt consolidation loan program can be frustrating, depressing and darn near impossible.

We’ve all seen the advertisements promising loans for people with bad credit or loans with no credit check. In my experience those companies are often high priced, that is if you actually get a debt consolidation loan and not get ripped off.

Many Debt Consolidation Loan Ads are Scams

Some of those outfits are actually advanced fee loan scams that ask you to send them an application fee or wire them money in hopes you will get the loan.

The bad credit overnight companies may sound professional and convincing but more often than not, people lose their advanced fees and get scammed, never getting the promised loan.

There was a time when Main Street banks actually did make unsecured debt consolidation loans, but these days they require near perfect credit or other criteria that is just out of reach of many people that could benefit from consolidating their debt.

The good news is that amongst all the unbelievable claims and scams out there, there are two companies people should actually look at when looking for a real debt consolidation loan at market or below market interest rates.

Best Debt Consolidation Loan

Before you read any further here, if you are unsure about the pros and cons of debt consolidation loans then I implore you to read my guide, The Ultimate Debt Consolidation Loan Guide: Getting Approved, Acting Smart, and Being Wise

Best Debt Consolidation Loan Program I’ve Found

The program I recommend is a peer-to-peer lending network. That just means they are comprised of people just like you and me that lend to people just like you and me using a professional company to screen borrowers, organize the funding of the loan, and collect payments.

See also  Is There a Good Loan to Use to Get Out of Debt? - Amanda

Companies like these are often able to help people get unsecured debt consolidation loans, at lower than Main Street bank rates simply because they have much lower overhead and expenses. They pass those savings on to the investor, in the form of higher rates of return, and to the borrower, in the form of lower interest rates.

For several years now I have been referring readers to peer-to-peer lenders and the only negative feedback I’ve heard is that sometimes people don’t get the loan, isn’t that the chance with any loan though, those that do are very happy with the process and the funding of their loan. If you don’t get the loan I’m not aware of any expense you would have incurred.

Peer-to-peer lenders are the only solution that I recommend these days for people looking for a real debt consolidation loan. You may be interested in this report which provided an analysis and review of peer-to-peer lenders.

The company I recommend is below.

Please feel free to check out other similar companies and review and maybe even apply at others to give yourself the best shot at getting an unsecured debt consolidation loan so you can wrap all your debt payments into one monthly payment. If you do pursue the debt consolidation loan option, pay close attention to not running the debt back up. A debt consolidation loan can be an effective tool when used correctly.

I am more familiar with Lending Club and have even interviewed a borrower for this site in the past. Along with sending people to Lending Club who are looking for a debt consolidation loan, I am also an investor that helps to fund those loans.

As an investor I’ve been very happy to help people get their debt consolidation loans funded and if you decide to go the Lending Club route then let me know what your loan number is and I’ll even help to fund your loan as well. pays me an amount when you get a loan through them that I then in turn use to help fund your loan.

I have found the people over at Lending Club to be kind, helpful, open and transparent about the process. I have no doubts that Lending Club is a legitimate company and place to find a loan.

If you only choose one to go with, my priority choice is – Click Here

Title: What a Great tip trying Lending Club is!

I was seeking a good way to clear out some emergency funding and your site had a recommendation for “Lending Club”. What a Super experience so far. Simple to apply, was fully funded in 24 hrs and they issued my loan in 3 business days.

Many Thanks Steve for all the Marvelous information you provide here! – Gary

Please keep me posted in the comments section below about your experience with either company in securing your unsecured debt consolidation loan.

See also  I'm Looking for Another Unsecured Debt Consolidation Loan to Get Out of Debt. - Carroll

Don’t forget to contact me with your loan number so I can help fund it.


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.

Damon Day - Pro Debt Coach

Steve Rhode

137 thoughts on “Best Debt Consolidation Loans”

  1. Interest rates are based on a number of factors which create risk. Unsecured loans are riskier for the lender than secured loans because they have collateral to go after. People can have a 755 credit score but other criteria which can trigger lender risk and thus higher interest rates.

    But a lower rate secured loan also contains the same amount of risk but shifts part to the borrower through the risk of loss of their collateral.

    I believe you are talking about Lending Club and not Lending Tree. Lending Club is very transparent about their interest rates, which at the current time range from 5.32 to 28.99, again, based on risk. See

    At a 20.5% rate it looks like they graded you as an E2 risk level for whatever reason. You’d need to get an answer from them why they graded you at that level. It might be due to debt to income ratio, or a wildly large number of factors.

    If the math doesn’t work for you based on the risk/interest rate they assigned to you then don’t take the loan out. Nobody is entitled to get the lowest rate unless they meet the requirements the lender assigns.

    Alternatively you could look at other P2P lenders like Prosper or SoFi to see what risk level they assign to you. And in order to compare, check what your local bank would offer you.

  2. Thanks Steve for the great info. I applied for a loan with LendingClub. They say it was approved and is awaiting fund. Could you help with that part? My loan number is 76273751. Thanks!!

  3. Dear Steve I have been trying to get help in getting my debt paid off. I owe around $3000.00 total. Bad part to all of this my credit score is 550. I need to get all of this pain off so I can get a home loan. I have lived in this home since 2009. And I have never missed a payment. A bank will not give a loan because of my score. I really need help on how I can get this fixed. Can you show me a way to get this done, I do have a good paying job as well.

    • I’m not really certain what the three scores together average. I have a score tracker but those aren’t usually real accurate. Going off of that my average of the three combined is 652. I didn’t realize the limit was 35,000. I guess it would have been pointless then. Thank you!!

  4. Hello,

    My name is Ryan miller,we offer loan of 30,00 to 50,000,00 an with an interest rate of 3% to 5%,we offer loans of all kinds listed below

    * business loan (capital)

    * Home loan (mortgage).

    * auto loan

    * personal loan

    * student / tuition loan

    * Refinance & construction

    * investment & partnership.

    For more informations or for application of any financial services outlined Stated above, You can contact us now via: ,We offer the best loan services because our customers satisfaction is our priority and we hope to hear from you soon




Leave a Comment