Best Debt Consolidation Loans
Regardless of the amount of your debt and your reasons for the debt, it’s not the end of the world. Even though it is a little controversial, debt consolidation can actually be a relief for millions of people with a high level of debt or with high interest rates which makes it impossible to pay their debt off.
Debt consolidation is simply a method often used in this situation which helps consumers simplify their budget by lowering the amount of their monthly payments. So, a debt consolidation loan is simply a type of loan whose funds will be used towards paying off existing debt(s). A debt consolidation loan often offers lower interest rates than existing debt. Please find bellow a ranking of lenders with beneficial debt consolidation loans.
Peer-to-peer loans up to $35,000 with fixed APR from 5.99% and terms up to 5 yrs for qualified borrowers with at least 640 credit score.
Personal loans from $1000 up to $35,000 with APR from 6% by matching borrowers with the proper lenders' offers. Bad credit is OK.
Peer-to-peer loans up to $50,000 and rates starting at 9.57% APR. The best option for personal loans if your credit score is at least 640.
Personal loans from $5,000 up to $100,000 with rates starting at 4.73% have cemented SoFi as one of the favorite online lenders in the country.