Best Debt Consolidation Loans of 2024
A loan that is taken from any of the lenders at comparatively lower interest rates for paying off multiple current or outstanding loans is known as a debt consolidation loan. With the aid of this loan, an individual or a business can attain financial stability as it can consolidate multiple loan payments into one single monthly loan payment.
Some of The Top Debt Consolidation Loan Companies in the USA are listed below:
| S. No. | Company | Est. APR | Loan Term | Loan Amount | Min. CS |
|---|---|---|---|---|---|
| 1 | True Debt Freedom | 6.99-35.99 | 2-7 Years | $10k – $100k | 690 |
| 2 | Discover | 7.99-24.99 | 3-7 Years | $2.5k – $40k | 660 |
| 3 | Happy Money | 11.72-17.99 | 2-5 Years | $5k – $40k | 640 |
| 4 | Lending Club | 8.98- 35.99 | 2-5 Years | $1k – $40k | 600 |
| 5 | Achieve | 8.99- 35.99 | 2-5 Years | $5k – $50k | 620 |
| 6 | SoFi | 8.99-29.99 | 2-7 Years | $5k – $100k | 710 |
| 7 | Upstart | 7.80- 35.99 | 3-5 Years | $1k – $50k | 300 |
| 8 | Light Stream | 7.49-25.49 | 2-7 Years | $5k – $100k | 695 |
| 9 | Universal Credit | 11.69-35.99 | 3-5 Years | $1k – $50k | 580 |
| 10 | Avant Personal Loan | 9.95- 35.99 | 1-5 Years | $2k – $35k | 550 |
| 11 | Prosper | 8.99-35.99 | 2-5 Years | $2k – $50k | 560 |
| 12 | Prosper | 8.99-35.99 | 2-5 Years | $2k – $50k | 560 |
| 13 | Best Egg | 8.99-35.99 | 3-5 Years | $2k – $50k | 640 |
| 13 | Citi | 10.49-19.49 | 1-5 Years | $2k – $30k | 720 |
| 14 | Lending Point | 7.99-35.99 | 2-4 Years | $2k – $30k | 680 |
As per the above represented data and information, the Best Debt Consolidation Loan providers in different categories are as follows:
Upgrade
The borrower who has a credit score as low as that equivalent to 580 can access Upgrade as an option of the lending partner.
Happy Money
By selecting Happy Money, the borrowers will get the best option for flexible repayment terms. Borrowers can choose this for consolidating their debts as it provides loans in the range of $5k to $40k for the term of 2 years to 5 years.
Achieve
This lender can facilitate the borrowers in directly paying off their debts of credit cards as it offers options of directly paying off the creditors and also offers rate discounts.
Lending Club
This lender will act as the best option for peer-to-peer lending, as it offers loans for debt consolidation at the maximized limits and flexible requirements for qualification.
Light Stream
If you are searching for a lending partner with lower interest rates, then Light Stream is the right choice. As it provides competitively lower interest rates which can ultimately be the low-cost option for the loan borrower.
True Debt Freedom: If the borrower is in search of a partner that can offer a higher amount of loan, then True Debt Freedom can be the best option for them. It provides loans that range from $5k to $100k. It can be the best option for individuals or businesses who want to consolidate a huge sum of money or debt.
Universal Credit: This lending platform acts as a comparing platform between the multiple offers
Discover: This lender is the best option for people who can repay the amount in 30 days as if done so then it will not charge any interest.
Citi: This lending partner can be selected in order to get the best personal loan for debt consolidation. The offerings made by Citi come with Zero late payment, application, prepayment, and origination fees. The loan taken through Citi will be of lower cost as it also offers low maximized APR and multiple discount options on loans.