Matt and his wife, Betsy, wanted to consolidate four separate loans into a single debt consolidation loan with Lending Club to lower their interest costs.
Here were the four loans they needed to payoff: Based on their credit profile, they were able to secure an ,000 loan from Lending Club to pay off the above debts.
This means that your personal assets (like your home or car) could be at risk in the event of default.
As with other debt relief solutions, it’s important that you have complete information before making a decision.
What many people don’t realize, though, is that unlike the debt settlement solution offered by Faith Works Financial, debt consolidation does not reduce the overall amount of your debt.
With a debt consolidation loan you will still pay back 100% of your debt, plus interest.
There are success stories like Matt’s all over the web, and on the Lending Club site.