How Can I Find an Honest and Legitimate Debt Consolidation Loan Company? – Richard

“Dear Steve,

We have about 25k in debt. This is old debt and not because we spend alot of money.. We have 250k in equity in our house and have been trying to get a second on our house so we could pay this debt but because our credit is about 650 (all payments are on time it is just the debt ratio that has caused our credit score to be low).. it is hurting my relationship with my wife and my family.

We have considered debt consolidation but every time we speak to someone we check online and all there are are horror stories. On the right of your site you have resource center.. are those your recommendations or just a Google ad?

o you wither know of someone who might give me a second loan or a reputable debt consolidation firm.. We really need help.. we are barely holding on and make 100k but we just can’t get out debt.. Please give us some advice if you can ..

On the right of your site you have resource center.. are those your recommendations or just a Google ad?


Dear Richard,

I’m not going to B.S. you, with a credit score of 650 you are right on the edge of being accepted by one of the major peer-to-peer unsecured debt consolidation lenders like or

Both outfits are legitimate companies that actually issue loans to consumers. The loans are funded by people like you and me that help to join together to help others. Interest is charged but it is often less than what a local bank would charge if they actually gave unsecured debt consolidation loans. Many don’t.

The resource section on the right is not a Google Ad block. Those are resources I like.

in fact, if you decide to go with Lending Club, let me know what your loan number is and I’ll help to fund it. It’s a special gift I do for my readers.

See also  Rita Asks "Should We Consolidate Our Debt?"

A debt consolidation loan is not your only option. And quite frankly it might be your best option at this point.

I’d suggest you first read How to Get Out of Debt. The Honest and Unvarnished Truth and The Truth About The Success Rates, Failure Rates and Completion Rates of Credit Counseling, Debt Settlement, and Bankruptcy. They will give you a great overview of what we need to deal with to get you moving in the right direction.

Then use the free How to Get Out of Debt Calculator to review your options.

Once you’ve identified a company you want to work with, then follow my step-by-step guide on what you should look for and expect from a good debt relief company.

Please post your responses and follow-up messages to me on this in the comments section below. It’s time to put this debt behind you and start dreaming about a life after debt.


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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