Where to get debt consolidation help

Credit Score None. View details. Key facts Upstart is a good option for those who have short credit histories and promising financial futures.

Pros Accepts borrowers new to credit. Cons Borrowers can choose from only two repayment term options. Charges origination fee. No mobile app to manage the loan. Qualifications Minimum credit score: None. Must be at least 18 years old. Valid email account required. Personal bank account with U. Available Term Lengths 3 to 5 years. Disclaimer The full range of available rates varies by state. Our pick for Fair credit and paying off credit card debt.

Credit Score Key facts Payoff, which lends only to people consolidating credit card debt, requires a minimum credit score of and two years of credit history. Pros Competitive rates among online lenders. Offers direct payment to creditors. No prepayment or late fees. Cons Charges origination fee. No rate discount for autopay. Qualifications Minimum credit score: Minimum credit history: Three years. At least two open accounts on credit report.

Zero credit delinquencies. Must be able to provide income verification. No bankruptcies filed within the past two years. Must provide Social Security number. Available Term Lengths 2 to 5 years. Disclaimer This does not constitute an actual commitment to lend or an offer to extend credit.

Our pick for Good credit and low rates. APR 4. Key facts LightStream offers no fees and low rates for borrowers with good credit. Pros No fees. Cons No option to pre-qualify on its website. Several years of credit history. Strong payment history with few or no delinquencies.

Investments, retirement savings or other evidence of an ability to save money. Enough income to pay existing debts and a new LightStream loan. Available Term Lengths 2 to 7 years. Fees Origination fee: None. Late fee: None. Disclaimer Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile.

Our pick for Good credit and no fees. Marcus by Goldman Sachs. APR 6. Cons No co-sign, joint or secured loan option. Available Term Lengths 3 to 6 years.

Disclaimer Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. Our pick for Fair credit and direct payment to creditors. Key facts Upgrade requires a minimum credit score of , and some borrowers with high debt-to-income ratios may qualify.

Pros Allows secured and joint loans. No co-signed loan option. Qualifications Minimum credit score: ; borrower average is Minimum number of accounts on credit history: Two accounts. Fees Origination fee: 2. Our pick for Good credit and secured loan option. Best Egg. Key facts Best Egg offers personal loans for borrowers who want to consolidate debt and need cash fast.

Pros Competitive rates among fair-credit lenders. Minimum credit history: 3 years and 3 accounts. Employment: Must provide proof of income; part-time employees are eligible. Must provide valid U. Fees Origination fee: 0. Our pick for Excellent credit and flexible payment options. Key facts Discover offers direct payment to creditors and flexible payment options; borrowers can change payment due dates or defer payments.

Pros No origination fee. Offers mobile app to manage loan. Cons Charges late fee. Must be a U. Available Term Lengths 3 to 7 years. Disclaimer This is not a commitment to lend from Discover Personal Loans.

Best debt consolidation loans: Factors to compare. Get the most with a debt consolidation loan. Will debt consolidation hurt my credit score? How to pre-qualify for a debt consolidation loan. Last updated on November 1, To recap our selections Frequently asked questions Do debt consolidation loans affect your credit score? See Offers. Offer Details. Excellent credit is required to qualify for lowest rates.

Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are.

Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Truist Bank is an Equal Housing Lender. Copyright Truist Financial Corporation. All other trademarks are the property of their respective owners.

Lending services provided by Truist Bank. Personal loans made through Upgrade feature APRs of 5. All personal loans have a 2.

Lowest rates require Autopay and paying off a portion of existing debt directly. Loans feature repayment terms of 24 to 84 months. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, credit usage history, loan term, and other factors.

Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. Personal loans issued by Upgrade's lending partners. Availability of the funds is dependent on how quickly your bank processes the transaction.

From the time of approval, funds sent directly to you should be available within four 4 business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.

The term, amount, and APR of any loan we offer to you will depend on your credit score, income, debt payment obligations, loan amount, credit history and other factors. Your loan agreement will contain specific terms and conditions. About half of our customers get their money the next day. After successful verification, your money can be deposited in your bank account within business days. The timing of available funds upon loan approval may vary depending upon your bank's policies.

The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0. The origination fee on a loan term 4-years or longer will be at least 4. Your loan term will impact your APR, which may be higher than our lowest advertised rate.

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. Additional state restrictions may apply. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.

Lowest rates reserved for the most creditworthy borrowers. Autopay Discount: The SoFi 0. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings, checking, or SoFi Money account. Autopay is not required to receive a loan from SoFi.

Direct Deposit Discount: To qualify for an additional 0. If you do not set up autopay with SoFi Money within 20 days of the funding of your loan, AND set up payroll direct deposits to SoFi Money within 35 days of the funding of your loan you will not be qualified for this additional 0. Once qualified, you will receive this additional 0.

This additional direct deposit discount will be lost during periods in which you have turned off direct deposits for your SoFi Money account.

You are not required to enroll in autopay or direct deposits to receive a loan from SoFi. Neither SoFi nor its affiliates are a bank. To receive any advertising product, you must become a member of PenFed Credit Union.

Lender Info Bankrate's View No prepayment penalties, application fees, late fees, or hidden fees. Because no one wants to do that You can consolidate all your credit card payments down to one monthly, affordable, fixed-rate payment between 5. We don't deduct a sign-up fee from your loan amount. Only the most creditworthy applications qualify for the largest loan amounts and lowest rates.

Discount when enrolled in Autopay You may be required to have some of your funds sent directly to creditors to pay down certain types of unsecured debt Your loan terms are not guaranteed and are subject to our verification of your identity and credit information. To obtain a loan, you must submit additional documentation including an application that may affect your credit score.

The availability of a loan offer and the terms of your actual offer will vary due to a number of factors, including your loan purpose and our evaluation of your creditworthiness. Rates will vary based on many factors, such as your creditworthiness for example, credit score and credit history and the length of your loan for example, rates for 36 month loans are generally lower than rates for 72 month loans.

Your maximum loan amount may vary depending on your loan purpose, income and creditworthiness. Your verifiable income must support your ability to repay your loan. Applications are subject to additional terms and conditions.

This reduction will not be applied if AutoPay is not in effect. When enrolled, a larger portion of your monthly payment will be applied to your principal loan amount and less interest will accrue on your loan, which may result in a smaller final payment.

See loan agreement for details. If your loan is funded, you could have your money in just a few days! Some amounts and term lengths may be unavailable in certain states. APR ranges from 7. Lowest APR is available to borrowers with excellent credit. Advertised rates are subject to change without notice. Loans are made by LendingClub Bank, N.

Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that we subsequently obtain as part of the application process including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt will be considered and could affect your ability to obtain a loan from us. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.

Origination fees vary between 2. Personal loan APRs through Prosper range from 7. Eligibility for personal loans is not guaranteed, and requires that a sufficient number of investors commit funds to your account and that you meet credit and other conditions.

Refer to Borrower Registration Agreement for details and all terms and conditions. Competitive rates from 9. Minimum loan amounts may vary by state. If approved, the actual rate and loan amount that a customer qualifies for may vary based on credit determination and other factors. An administration fee of up to 4. Upon final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day.

Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards including a responsible credit history, sufficient income after monthly expenses, and availability of collateral. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance.

Maximum annual percentage rate APR is APRs are generally higher on loans not secured by a vehicle. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount.

Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. An unsecured loan is a loan which does not require you to provide collateral such as a motor vehicle to the lender.

We build products that offer unprecedented speed and ease, powered by blockchain technology. We continue to expand a comprehensive set of offerings that align with member needs throughout the course of their financial lives. We understand that financial lives are complex.

It involves saving, spending and borrowing all at the same time, and we help you Figure it out. This is not an offer of credit; this is an invitation to apply. To obtain a loan, you must submit additional documentation including an application that will require hard credit pull, which may affect your credit score. Approval of your application is subject to verification of your identity and credit information.

Rates change frequently so your exact rate will depend on the date you apply. You will be responsible for an origination fee of up to 3. Loan terms and fees are also subject to change.

NMLS The Bankrate guide to choosing the best debt consolidation loans Why trust Bankrate? Bankrate has been comparing and surveying lenders and financial products for over 40 years. Hundreds of top news organizations rely on Bankrate as a trusted source of information. Bankrate strives to help you make smart, informed decisions about your finances.

We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is fact-checked to ensure accuracy. In the meantime, they negotiate with your creditors to help you pay less than what you owe. According to the company, its clients settle their debts and become debt-free after an average of fewer than 28 months. The company claims to lower both the balance and interest rates of debts.

Other benefits of New Era Debt Solutions include the fact it has attorneys on staff and an account management team is also assigned to each client from the start. The company also handles all of its work in-house and never outsources tasks to other unproven firms or contractors. Read the full NewEra Debt Solutions review. While other debt relief companies shy away from tax debts, CuraDebt offers special assistance for consumers who owe back taxes. This program is offered on top of its traditional debt settlement programs that can help consumers become debt-free while paying less than what they owe.

CuraDebt has been in business since , and it offers a free consultation for consumers interested in its debt relief programs.

There are no monthly administration fees. This makes CuraDebt unusual in that it can help consumers who have multiple types of debt including taxes, credit cards, and personal loans. Specifically, CuraDebt's assistance for tax debt relief includes transparent, flat-fee pricing and help to settle and to negotiate on IRS and state tax debts.

It even has federal and state tax experts on staff, and this assistance is available in all 50 states. Read the full CuraDebt review. We chose Freedom Debt Relief due to the fact it offers an interactive client dashboard that lets clients track their progress. Freedom Debt Relief has been in business since and currently employs over 2, highly trained debt experts and professionals.

It starts clients off by offering a free consultation with a certified debt consultant who can help them talk over their debts and what they hope to accomplish.

From there, they craft a personalized debt settlement plan that asks you to save a specific amount in a separate account to use for debt settlement later on.

One feature that helps Freedom Debt Relief stand out is its interactive process. This dashboard lets you see how much you have saved, how much you owe, and any progress Freedom Debt Relief has made negotiating debts on your behalf.

By the end of their debt settlement programs, customers pay a fee equal to a percentage of the amount of debt they enrolled in the program. While Freedom Debt Relief cannot guarantee it will settle your debts, it claims that many of its clients wind up paying significantly less than the amounts they once owed. Read the full Freedom Debt Relief review. All of the best debt relief companies on our list are reputable, offer various services, and have overall good reviews with helping customers manage and reduce their debt.

Some provide numerous debt relief options and others charge lower fees. Overall, we recommend checking out National Debt Relief first. The company has a proven track record, a money back guarantee, and shows clear examples of debt reduction on its website.

Debt relief companies are for-profit organizations that help consumers settle their debts for less than what they owe. These companies gear their services to clients who are so overwhelmed with debt that they cannot figure out a solution on their own.

You should also strive to avoid working with debt relief companies that try to collect fees before they settle your debts or ones that advertise a new government program that could help. Generally speaking, debt relief companies turn to debt settlement as the best debt relief option.

With debt settlement, these companies ask their clients to set aside a specific amount of money in a dedicated savings account each month. The goal of this account is to build up a sum of money that can be used to settle debts later on. Debt relief companies then negotiate with creditors on your behalf, which typically involves offering less than what you owe toward your balances.

At the end of a debt settlement program, clients should be debt-free and able to move on with their lives. While paying less than what you owe may sound ideal, the Federal Trade Commission FTC notes that debt settlement has risks. For example, debt relief companies will ask you to stop paying your bills while they work to settle your debts, which can have grave consequences for your credit score.

Where debt settlement involves working with a debt relief company to settle your debts for less than what you owe, debt consolidation requires you to take out a new financial product typically a personal loan or a balance transfer credit card to consolidate all your existing debts.

While the goal of debt consolidation is saving money, debt consolidation can also help you go from paying multiple debt payments each month down to just one. One major downside of debt settlement programs is the fact that your credit score can take a hit once you stop making payments.

This makes sense since your payment history is the most important factor used to determine your FICO credit score. In a recent interview with Erica Sandberg , a consumer finance expert and host of the weekly video podcast Making It in San Francisco , she said "If you receive formal forgiveness, it usually shows up on your credit report as settled.

It's better than not paying at all but still an indication that you did not fulfill your contractual obligation. Delinquencies, charge-offs, and accounts that have been sent to collections show up on a credit report for seven years.

These dings will not be purged when you settle the account.