Debt Consolidation Loans - Learn, Find and Save
Debt consolidation loans help you pay off multiple credit cards and personal debts in one convenient monthly payment. Check offers from multiple lenders. Interest rates and terms can vary, based on your credit score and other factors.
Get a personalized debt consolidation loan rate quote
Find a debt consolidation loan lender?
Do you want to learn more about debt consolidation lenders? What type of loans do the lenders offer? Will you be approved with good credit, or do you need excellent credit? How much money can you get?
Bills.com researched top lenders. Get background information and pros and cons of leading providers.
Debt Consolidation Lenders - A Quick Glance
SoFi: SoFi serves its target market of well educated, high income or high potential income borrowers well. Their non-traditional underwriting criteria cause their personal loan funding to average about 7 days.
Avant: Avant offers loans to borrowers with FICO scores as low as 580. Their website states that most of their customers who receive a loan have scores between 600 and 700. Their credit requirements make Avant a good option for borrowers who would get turned down due to credit scores by other lenders.
FreedomPlus: FreedomPlus offers loans of up to $35,000 to consumers with less-than-excellent credit scores. FreedomPlus focuses on lending to the approximately 42 million people with FICO credit scores between 600 and 700, who may not qualify for traditional bank loans.
Shopping for a debt consolidation loan?
A debt consolidation loan offers you an opportunity to put your finances in order.
It is even more accessible than ever to get a loan. You don't have to run around to banks or lenders. You can do all of the shopping on your computer, tablet, or phone.
Three tips to find a debt consolidation loan
Consider your credit: When shopping for a debt consolidation loan, you want to consider your credit score, because that will affect the types of offers you get. Some lenders only offer loans to borrowers with good to excellent credit, while others provide personal loans to borrowers with bad credit.
Compare rates and fees: It is easy to compare debt consolidation loan offers by looking at the loan term, interest rate, and fees. Use the APR, which is a reliable indicator of the actual cost of the loan since most unsecured loans are not paid off early.
Choose the right solution: A debt consolidation loan can help you save money. However, it isn't always the best alternative. When shopping for a loan consider if you can afford the monthly payments. If the loan isn't a good match, then check out other debt consolidation offers including a home equity loan, debt settlement or credit counseling. However, each consumer is different.
Shop around to find the debt consolidation option that best fits your needs.;
Choose the Best Debt Consolidation Loan
Choose between different types of debt consolidation loans and solutions.
When shopping for a debt consolidation loan ask yourself these questions:
- What type of loan do I want? An unsecured personal loan or a home equity mortgage loan?
- What kind of payments can I afford?
- Is my credit good enough to qualify for a debt consolidation loan?
The two most popular types of debt consolidation loans are personal loans and cash-out mortgages. If you can't qualify for either, then you will need to look for other debt-relief alternatives.