Financhaser prepares compare lists for debt consolidation loans and shares its best monthly pick with you. In the compare list, there are lenders that offer for people having various credit scores.

Compare Best Debt Consolidation Loans of August 2020

1 - LightStream Debt Consolidation Loan

Best of August

5.95% to 16.79%

APRs

660+

Mininmum Credit Score

$5,000 to $100,000

Loan Amounts

24 to 84 months

Loan Terms

2 - Discover Debt Consolidation Loan

6.49% to 24.49%

APRs

660+

Mininmum Credit Score

$2,500 to $35,000

Loan Amounts

36 to 84 months

Loan Terms

3 - LendingClub Debt Consolidation Loan

10.68% to 35.89%

APRs

600+

Mininmum Credit Score

$5,000 to $100,000

Loan Amounts

36 months

Loan Terms

4 - PayOff Debt Consolidation Loan

5.99% to 24.99%

APRs

640+

Mininmum Credit Score

$5,000 to $35,000

Loan Amounts

48 months

Loan Terms

5 - Marcus Debt Consolidation Loan

6.99 to 28.99%

APRs

660+

Mininmum Credit Score

$3,500 to $40,000

Loan Amounts

36 to 72 months

Loan Terms

6 - BestEgg Debt Consolidation Loan

5.99% to 29.99%

APRs

640+

Mininmum Credit Score

$2,000 to $35,000

Loan Amounts

36 to 60 months

Loan Terms

7 - OneMain Financial Debt Consolidation Loan

18.00% to 35.99%

APRs

N/A

Mininmum Credit Score

$1,500 to $20,000

Loan Amounts

24 to 60 months

Loan Terms

8 - UpStart Debt Consolidation Loan

6.46% to 35.99%

APRs

620+

Mininmum Credit Score

$1,000 to $50,000

Loan Amounts

36 to 60 months

Loan Terms

9 - Avant Debt Consolidation Loan

9.95%-35.99%

APRs

580+

Mininmum Credit Score

$2,000 to $35,000

Loan Amounts

24 to 84 months

Loan Terms

10 - UpGrade Debt Consolidation Loan

7.99%-35.97%

APRs

600+

Mininmum Credit Score

$1,000 to $50,000

Loan Amounts

36 to 60 months

Loan Terms

Need to Know about Debt Consolidation Loans

The simplest definition of debt consolidation is the method of a debt refinancing merging all debts into a single place to keep debt in check. People generally prefer to use debt consolidation loans for high credit card debts, medical bills, refinancing personal loans and payday loans. Debt consolidation can be considered not only for individuals with high consumer debt, but also for Government debt.

Debt consolidation enables you convert your high-interest debts to lower-interest payment. There are other advantages: you won’t be late for monthly payments; you can decrease costs by lowering the interest rate on debts and reducing monthly payments, you can pay off fewer and save money. So, debt consolidation is exactly a good idea for good credit. But debt consolidation for bad credit may not be a good idea.

Things to know about debt consolidation loans

The simplest definition of debt consolidation is the method of a debt refinancing merging all debts into a single place to keep...

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