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I Want to Combine My Debt Into One General loan at Low Interest. – Wendy

“Dear Damon,

I have credit card debt $40k from starting my own business 2 yrs ago. Finally supply is meeting demand of current bills. Additionally, I took out a $100k business loan which is considered a 2nd mortagage. So, I paid $1000 evey month toward credit cards, interest is about half. I probably can afford giving $2500/month to credit cards.

I wanted to combine one general loan at low interest, just can’t find a loan to do so. Suggestions please!

Wendy”

The Answer

Wendy,

Get Out of Debt Free Hotline

It is pretty tough to get unsecured debt consolidation loans right now unless you have great credit. If your credit is good and you have had no luck with traditional banks or credit unions, you could apply for a consolidation loan at LendingClub.com.

However, if you are trying to role the business loan into that, they do not lend more than 25,000 at a time so you will be unable to do that.

What are the current rates you are paying on your cards now?

Damon is a talented independent debt coach that provides in-depth assistance and consultations for people struggling with debt. If you want a personal debt coach to help you through a difficult situation or want assistance to find secret discounts offered by debt settlement companies I think Damon Day is an excellent person to contact for advice and assistance. He can be reached directly at DamonDay.com

If you have a debt related question you’d like to ask, just use the online form.

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About Damon Day

Damon Day
Damon Day is a talented Debt Coach who offers fee based consultations to consumers as an alternative to the typical free debt relief consultations which are nothing more than thinly veiled sales pitches lacking any real information to help a consumer make a good decision. You can learn more about how he can protect you from getting ripped off at DamonDay.com

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After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


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