Simplify your finances by combining multiple debts into one manageable payment with lower interest rates and better terms.
Debt consolidation combines multiple high-interest debts into a single loan with a lower interest rate. Instead of managing several payments each month, you make just one payment to one lender, often saving money on interest and paying off your debt faster.
Whether you have credit card debt, medical bills, or personal loans, debt consolidation can help you streamline your payments, reduce your interest rates, and create a clear path to becoming debt-free.
Reduce your interest rates significantly compared to credit cards, saving thousands over time.
Simplify your finances with just one payment instead of juggling multiple due dates.
Know exactly when you'll be debt-free with a fixed repayment term.
Lower interest means more of your payment goes toward principal, helping you get out of debt sooner.
Making consistent payments can help rebuild and improve your credit over time.
Simplified payments and a clear payoff plan give you peace of mind.
Find the best debt consolidation loan for your needs. Compare rates, terms, and benefits from our trusted lending partners.
| Lender | Rating | APR Range | Loan Amount | Term Length | Action |
|---|---|---|---|---|---|
| SoFi | ★★★★★ | 8.99% - 25.81% | $5,000 - $100,000 | 2-7 years | Call Now Get Quote |
| Marcus by Goldman Sachs | ★★★★★ | 7.99% - 24.99% | $3,500 - $40,000 | 3-6 years | Call Now Get Quote |
| LightStream | ★★★★★ | 7.49% - 25.49% | $5,000 - $100,000 | 2-7 years | Call Now Get Quote |
| Discover Personal Loans | ★★★★☆ | 7.99% - 24.99% | $2,500 - $40,000 | 3-7 years | Call Now Get Quote |
| Upstart | ★★★★☆ | 6.50% - 35.99% | $1,000 - $50,000 | 3-5 years | Call Now Get Quote |
| Prosper | ★★★★☆ | 8.99% - 35.99% | $2,000 - $50,000 | 2-5 years | Call Now Get Quote |
Review your credit score and gather information about your current debts.
Shop around and compare rates, terms, and fees from multiple lenders.
Submit your application to your chosen lender with required documentation.
Once approved, use the loan to pay off your existing high-interest debts.
Make one fixed monthly payment to your consolidation loan until it's paid off.
While requirements vary by lender, most debt consolidation loans require a credit score of at least 580-600. Better credit scores typically qualify for lower interest rates.
Initially, applying for a new loan may cause a small, temporary dip in your credit score. However, making consistent on-time payments can improve your credit over time.
Debt consolidation combines your debts into one loan and you pay the full amount owed. Debt settlement negotiates to pay less than you owe, which can have a more negative impact on credit.
Savings vary based on your current interest rates and the rate you qualify for. Many borrowers save thousands of dollars in interest charges over the life of the loan.
Some lenders charge origination fees (typically 1-8% of the loan amount), while others offer no-fee loans. Always compare the total cost, including fees, when choosing a lender.
Compare personalized rates from top lenders and find the best debt consolidation loan for your needs.
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