High Lending Club loan rate - should i go for it?

[zs]

I applied for a loan at Lending club, and have a couple offers, ~ $7000 & ~ $9000. The interest rate is 23.99 and the APR is 26.99 on both. The payments are between 288 & 350 a month I think. It sounds really, really high for those rates.

I'm 26, married and have a 6 month old. I have a stable job, make a little over $55,000 a year and can afford those monthly payments. My credit score is between 625 & 675. The reason I want the loan is to consolidate payments from debts when I was bit less smart regarding money. I'd be able to consolidate all debt and only have two monthly payments, one for my car and one for LC. My monthly CC payments, fees(late payments as I'm forgetful sometimes) as well as some medical bills from the baby are about 250-300 a month. It sounds really nice to have all those debts under on payment and have it be payed off in 36 months. The plan is to not use any of the freed up credit as we live within our means now and are slowly improving thanks to this site. I've just been struggling keeping track of everything and to me this sounds like a little piece of mind.

Am I deceiving myself into thinking this will work/is a good idea? Your thoughts/face punches?

[Rezdent]

Little worry bells went off in my head while reading this...

You have multiple high interest loans you want to consolidate?  Are they already higher than what LC offered at 23%?
You sometimes make payments late because you "forget"?
You say you can afford the monthly payment...but how much will you pay extra in interest over the life of the loan?   That's what matters, not the monthly payment.

Under these circumstances I would not recommend taking out another loan without very careful analysis.  Be cautious about taking on any more loans, seriously. There's a good chance you'll be adding gas to your flaming fire.  It might be okay if the loan is a lower interest rate but your situation is dire enough that it could easily overwhelm you.

And I'd be for full on pouring every last penny into getting out from under these debts.  Up to and including selling the car asap and anything else you have.

[zs]

Yes that is what I was expecting.

I can't currently sell the car as it is our only one and we share it. I've been working on selling other things that are not necessary: android tablet, utility carts for garage, etc.

[kpd905]

Can you list out your monthly income and expenses?  Also the rates on all of your debsts?

We can probably help you find somewhere to cut.