Debt Consolidation Suggestions - Secured and Garnished Loans - HELP!

[Anonymous]

Hello,

I have a number of loans(Student, Personal, and Auto) at the moment and would like to consolidate them into one loan - as the interest rates vary and my bank account is auto debited at various times throughout the month.  I currently have:

- Auto Loan:  $10k Balance (Secured)

- Student Loan: $9k (Garnished from Paycheck Bi-Weekly)

- Personal Loan: $5.5k (Unsecured)

I tried reaching out to National Debt Relief, as I've heard they were the best consolidtion company out there, but I do not qualify because they 1) Don't support secured loans 2) don't support garnished loans and 3) only support unsecured loans in excess of $7k, and mine is under that threshold.

Are there any other companies or avenues I should try to consolidate the three listed above?  I'm really struggling here as they are costing me around $1.2k/month and I really need that reduced.

Any suggestions will be greatly appreciated.

Thanks!

ZW

[Anonymous]

You could join a credit union and apply for a new $25,000 personal/consolidation loan. Approval would be based on income and credit standing of course. There are also alternatives such as Amex Personal Loans (have to be an existing Amex member and get pre-approved); Marcus Loans and So Fi. 

Your other option would be bankruptcy; that would get rid of the car and personal loans at least; but then you'd be left with no car and terrible credit. Student loans cannot be discharged in bankruptcy. 

[Anonymous]

What are your interest rates and your FICO8 scores? Income? Credit card utilization?

[Anonymous]

Thanks for your response.

I am a California resident and make a decent income, but know my Credit Score is poor (570) which will make it pretty hard to get a loan in that amount for myself.  I definitely don't want to file for bankruptcy, but will try the credit union option.

Thanks for your suggestion.