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# Options for debt consolidation

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Manager
Joined: 05 Apr 2010
Posts: 93

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27 May 2011, 06:24
I am looking for a debt consolidation loan for consumer debt. I lived like a rockstar when I was in graduate school and didn't want to hold off my career because of debt. My credit score is high but I am "highly leveraged" so would like some suggestions/advice from the community about debt in graduate school and debt consolidation loans.

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VP
Joined: 09 Dec 2008
Posts: 1221

Kudos [?]: 245 [1], given: 17

Schools: Kellogg Class of 2011
Re: Options for debt consolidation [#permalink]

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27 May 2011, 12:05
1
KUDOS
Is your high leverage from student loans or credit cards? The specific options available to you are going to depend on which country you're in, but in the US at least there are plenty of opportunities to consolidate student loans. Credit cards and other personal debt is a little harder to consolidate (unsecured lines of credit are hard to come by and carry pretty high interest rates, so many people resort to using a home equity loan to pay off multiple credit cards), but if you've been a good customer, paid on time, good credit, you can usually get the lender to knock a few points off the interest rate if you ask nicely.
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Kudos [?]: 245 [1], given: 17

Joined: 19 Aug 2015
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Kudos [?]: 11 [0], given: 1

Re: Options for debt consolidation [#permalink]

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28 Feb 2016, 15:02
You might also want to look into peer to peer lending options like lendingclub or prosper. Depending on your risk factors you could see interest rates as low as 6%. Much lower than what most people would be paying on their credit card debt.
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Kudos [?]: 11 [0], given: 1

Re: Options for debt consolidation   [#permalink] 28 Feb 2016, 15:02
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# Options for debt consolidation

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