I Have a Lot of Medical Debt and Might be Losing My Job. – Michelle

“Dear Steve,

Ok, I have had a lot of high medical deductibles this year than anticipated and having some trouble keeping up with the credit card debt. Luckily I have paid everything on time and have never been late. But, I am now facing possibly losing my job.

I really looking to consolidate my credit debt into one. I have about 31,000.00 and a 705 credit score. What should I do????


Dear Michelle,

We need to tackle one thing at a time here. If you are truly afraid you may be losing your job then any longer term solution to deal with the debt may not be successful.

The reality is anyone can lose their job on any day for any reason. Employment is never really secure. Stuff happens beyond the employees control. We all like to believe our jobs are secure, they really are not.

So let’s say you get past this issue of the job or it was not a factor. The most logical first path to explore would be an unsecured debt consolidation loan from LendingClub.com. It is a peer-to-peer lending network that let’s people like you and me lend to people like you and me. I happen to help fund loans there so if you go that route let me know what your loan number is by posting it in the comments below and I’ll help fund it.

If the job concern is overwhelming and you do get laid off, if you can’t find a replacement job in short order you may need to look at bankruptcy to discharge the credit card debt so you can survive on employment.

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.

Damon Day - Pro Debt Coach

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