Jean chasky consolidating student loans

BBB Accredited: Yes Company Description Prosper is an online lending service.

Borrowers file financial information and are matched with investors who fund the loans. It offers secured and unsecured personal loans for debt consolidation.

Companies that do debt consolidation have a variety of methods they use and it’s vital that consumers understand the differences in each plan.

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Good credit score and equity in home or car make a big difference in interest rate charged for loans. BBB Accredited: Yes Company Description Lending Club has become a leader in online lending.

Borrowers fill out an application, then company assigns credit rating and interest rates. Lending Club services are available online, through their website.

Their method of debt consolidation is to take all past due bills and attempt to reach a settlement with each creditor. Comments Debt settlement does severe, long-term damage to your credit score, a fact the company admits on its website.

Some creditors won’t deal with debt settlement companies, but if you’re not worried about your credit score, this might be an appropriate option.

It helps to know how credit counselors are compensated.

If they receive bonuses for selling additional services, that should be a red flag.

Each one has a distinguishing feature that makes it an appropriate – or inappropriate – solution for your problem.

It’s up to consumers to sort through the choices and determine which company meets the goal of eliminating debt.

Comments Debt management program requires commitment and patience.

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