I do not have a great credit history due to a divorce and some other irresponsible past decisions. I am trying my best to get it under control, however, the only option I can see to do that is a debt cosolidation loan. I have applied for one through USAA but was denied due to delinquency and debt to income ratio. My questions are these; why would the debt income ratio matter if Im planning to use the loan to pay off those debts?; and what other options do I have without bankruptcy?




I am not a USAA Advisor, nor a USAA Employee. I am just a Member like you.


That said, the subject of Debt Consolidation is too complex to give you a simple answer. This forum has Moderators whom are Financial Advisors whom may be better able to answer some your questions.


A key bit of advice that I can give you is that you should not start any Debt Consolitation Progam without talking to a financial advisor first.


Also the only real help I have for you are the following LINKS which should answer some of your questions.


1. USAA - Financial Advice Blog (maybe you could post your question there)


2. USAA - Member Community Post - Debt Consolidation


3. USAA - Credit Tools - Calculate Your Debt-to-Income Ratios


4. Credit Karma - Understanding Your Debt to Income Ratio **(External Link)


I hope I have helped you.

I am going through a divorce and I need to pay off my debts. I have little money to work on and wanted to know if I will lose my USAA privleges (Banking, auto insurance) if I ask to have a large debt settlment on my credit card balance.


Thank you for your inquiry. I will be happy to have a bank specialist reach out to you to address your question and any other concerns you may have.   

This helps me a lot too thanks