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  I'm Lending Money to People So They Can Consolidate Their Debt. Want Some?

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.

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

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.

LendingClub.com 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 LendingClub.com – 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  My Ultimate Goal is to Reduce My Monthly Payments and Get Out of Debt. - Nicole

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


Damon Day - Pro Debt Coach

Follow Me
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.
Steve Rhode
Follow Me

Comments are closed.