Ask The Get Out of Debt Experts Debt Consolidation Loan

Where Can I Get Approved for a Bill Consolidation Loan? – Erv

Written by Steve Rhode

“Dear Steve,

I have recently been turned down for a bill consolidation loan for $30,000 . I have a credit score of 640 and I am current on all of my bills.

Since I have been turned down for a loan and I am a little leary of debt settlement companies what other options do I have. I would rather get a BCL if that is still possible.



Dear Erv,

With a 640 credit score I think you’d have a hard time getting approved for a bill consolidation loan. Peer-to-peer lenders like and both make a lot of unsecured bill consolidation loans but the cutoff line of those that get approved is higher than 640 in my experience.

Have you reviewed your consolidated credit reports to see if there are any errors that are bringing down your score?

Do you know exactly why your credit score is reduced? If not, I’d suggest the free credit score modeling tool at

Please post your responses and follow-up messages to me on this in the comments section below.

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About the author

Steve Rhode

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.

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