Are there any private lending options that do debt consolidation loans? If anyone has recommendations or has ever dealt with one please let me know.

We have let our credit card debit get out of control at high interest rates, so I'm interested in a debt consolidation loan that would be done at a lower fixed interest rate

Have you looked at transferring some of it to a 0% interest credit card? I know some cards will offer 12-21 months of no interest on transfers.

absolutely do credit card 0% offers.

I have lingering debt from $100k+ worth of home renovations in '24/'25. I recently churned a card to continue with 0%. I was on a bank of america for 18 months no interest. It was ending this month, and I recently got an offer from citi for 21 months no interest, and only 3% transfer fee, so didn't hesitate to sign up. Cost me ~$600 in transfer fee, but that far outweighs a ~20% yearly interest. That' literally about 2-3 months worth of a high interest card.

I hope I don't need to do it again, should be able to get rid of the last $20k in the next 21 months. (Also have a few fixed rate loans @ ~8% which I'm paying aggressively to get rid of)

JMac03 said:

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Have you looked at transferring some of it to a 0% interest credit card? I know some cards will offer 12-21 months of no interest on transfers.

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Yes we had already taken advantage of a couple but no new offers coming in

AggiePlaya said:

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JMac03 said:

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Have you looked at transferring some of it to a 0% interest credit card? I know some cards will offer 12-21 months of no interest on transfers.

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Yes we had already taken advantage of a couple but no new offers coming in

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They always have these 0% promos, you don't need a mailer.

https://www.forbes.com/advisor/l/best-0-apr-credit-cards-v2

The citi card I just signed up for is on this list.

No reason not to do this for a cycle or two, however long it takes to pay off debt. No loan consolidation will come close to this type of interest savings.

I don't know how much credit score changes these offers, I have 750+, so I can only speak of my experience with using them when needed. I also notice no significant change to my credit score after signing up for 2 of these consecutively now. (18 months apart)

Something else I utilized for my home improvement funding - Amex personal loans. I have a credit card through them (not sure if that's a requirement), but I was able to get a loan (which immediately upon approval and confirmation by me was cash into checking account) for 8-9%. You pick the loan length (options of 2/3/4/5/6 year if I recall) and it amortizes it so you have a fixed monthly payment.

You can pay them off early with no penalty. I had 2, one $15k and one $10k. Not sure how high they go, it asked how much I needed and those were the amounts I put in.