{"id":323,"date":"2022-05-26T21:08:40","date_gmt":"2022-05-26T21:08:40","guid":{"rendered":"http:\/\/marshalllodge.co.uk\/?p=323"},"modified":"2023-11-23T15:16:18","modified_gmt":"2023-11-23T15:16:18","slug":"10-best-debt-consolidation-loans-for-2023","status":"publish","type":"post","link":"http:\/\/marshalllodge.co.uk\/index.php\/2022\/05\/26\/10-best-debt-consolidation-loans-for-2023\/","title":{"rendered":"10 Best Debt Consolidation Loans for 2023"},"content":{"rendered":"
Have you been struggling to deal with credit card debt that never seems to go away? If so, a debt consolidation loan<\/a> can offer a way out.\u00a0<\/p>\n It won\u2019t make your debt go away, but it will help it become more manageable. And by setting up the right loan, you can be debt-free in a few short years.<\/p>\n To help you in your search for the right loan, we prepared this guide on the 10 best consolidation loans for 2023.<\/p>\n The table below provides a summary of the main features offered by each lender. You can then scroll down and read our summary reviews with more information on each lender that may interest you.<\/p>\n Here is our list of the 10 best debt consolidation loan lenders of 2023:<\/strong><\/p>\n Below are our summary reviews for each.<\/strong><\/p>\n Minimum\/Maximum Loan Amount: <\/strong>$1,000 to $100,000 LendingTree<\/a> is an online loan marketplace offering mortgages, auto loans, and credit cards. For debt consolidation, you can apply for a personal loan from $1,000 to $100,000, with terms ranging from two years to 12 years.<\/p>\n The big advantage of LendingTree is that you can get loan quotes from at least 11 personal loan lenders at the same time. Participating lenders are some of the biggest in the industry, and even include some of the lenders in this guide.<\/p>\n Minimum\/Maximum Loan Amount: <\/strong>$600 to $100,000 Much like LendingTree, Credible<\/strong><\/a> is an online loan marketplace. Not only do they offer personal loans, mortgages, and credit cards, but also student loans<\/a> and student loan refinancing<\/a>.<\/p>\n Personal loans are available for debt consolidation in amounts up to $100,000 and with terms as long as 84 months. Credible advertises the lowest interest rates of all lenders on this list. A total of 17 lenders offering personal loans participate on the platform.<\/p>\n Credible has a special offer for personal loan applicants; if they can\u2019t find you the best personal loan rate available, they\u2019ll give you $200.<\/p>\n Minimum\/Maximum Loan Amount: <\/strong>$1,000 to $40,000 LendingClub<\/strong><\/a> is a peer-to-peer loan platform that brings together borrowers applying for loans that are funded by investors participating in the platform.\u00a0<\/p>\n You can apply for up to $40,000, with a loan term of either three years or five years. All loans are fixed-rate and will be fully repaid at the end of the term.<\/p>\n LendingClub is one of the biggest lenders in the personal loan space, having provided more than $60 billion in financing. It also provides business loans<\/a>, medical loans (patient solutions), and auto refinancing loans.<\/p>\n Minimum\/Maximum Loan Amount: <\/strong>$5,000 to $100,000 SoFi<\/a> <\/strong>began as a service providing student loan refinancing. But it has since expanded, and now provides comprehensive financial services that include investments, banking, credit cards, insurance, and even credit scores and budgeting. The platform boasts more than 3.5 million members.<\/p>\n SoFi personal loans are designed primarily for those with good or excellent credit. If you qualify, you can borrow up to $100,000 for as long as 84 months. And you can do it all with no loan fees!<\/p>\n Minimum\/Maximum Loan Amount: <\/strong>$1,000 to $50,000 Upstart<\/a> offers several different loan options, including auto loan refinances, medical loans, home improvement loans, and personal loans for debt consolidation. <\/p>\n You can borrow up to $50,000 with rates starting as low as 3.09% APR (Annual Percentage Rate). The minimum credit score at 600, will accommodate borrowers with average or fair credit.<\/p>\n Like many other personal loan lenders, loan terms come in two sizes: 36 months and 60 months. This lender also has potentially steep loan fees, with an origination fee as high as 8%. <\/p>\n That could mean a $4,000 fee on a $50,000 loan, giving you net proceeds of only $46,000.<\/p>\n Minimum\/Maximum Loan Amount: <\/strong>$1,000 to $100,000 Even<\/strong><\/a> is a financial services platform that offers personal loans for just about any purpose. You can borrow up to $100,000, with rates starting at 4.99% APR and terms ranging from 24 to 84 months.<\/p>\n Like some of the other lenders in this guide, Even is an online loan marketplace. By completing a single online application, you\u2019ll get rate quotes from multiple lenders. This gives you an opportunity to choose the loan that will work best for you.<\/p>\n Minimum\/Maximum Loan Amount: <\/strong>$5,000 to $100,000 LightStream<\/strong><\/a> is the online personal loan program for Truist Bank (formerly SunTrust). The company is a direct lender, offering personal loans up to $100,000 for just about any purpose. They charge low rates, with terms as long as 144 months.<\/p>\n LightStream will work best for those with good or excellent credit, as their credit requirements are steep.\u00a0<\/p>\n Not only do they require an excellent payment history with no delinquencies, but also a proven ability to save money in the form of bank deposits, stocks, real estate, retirement, and other assets, as well as a solid credit history.<\/p>\n Minimum\/Maximum Loan Amount: <\/strong>$3,500 to $40,000 Marcus by Goldman Sachs<\/strong><\/a> is a direct lender that not only offers personal loans but also savings accounts, investments, and credit cards.\u00a0<\/p>\n Personal loans are available in amounts up to $40,000, with rates starting as low as 6.99% APR. Not only do they charge no fees in connection with their personal loans, but there are also no late fees.<\/p>\n The minimum credit score requirement of 660 means you will need at least average credit to qualify. This is not a lender for consumers with fair or poor credit.<\/p>\n Minimum\/Maximum Loan Amount: <\/strong>$2,000 to $50,000Table of Contents<\/h3>\n<\/div>\n
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Our Picks for Best Debt Consolidation Loans<\/h2>\n
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Best Debt Consolidation Loans \u2013 Company Reviews<\/h3>\n
Interest Rate Range: <\/strong>4.37% to 35.99% APR
Fees: <\/strong>0% to 10%
Loan Terms: <\/strong>24 to 144 months
Minimum Credit Score: <\/strong>585<\/p>\n<\/p>\n
Interest Rate Range: <\/strong>5.40% to 35.99% APR
Fees: <\/strong>Varies by lender
Loan Terms: <\/strong>24 to 84 months
Minimum Credit Score: <\/strong>585<\/p>\n<\/p>\n
Interest Rate Range: <\/strong>7.04% to 35.89% APR
Fees: <\/strong>3% to 6%
Loan Terms: <\/strong>36 or 60 months
Minimum Credit Score: <\/strong>Not disclosed<\/p>\n<\/p>\n
Interest Rate Range: <\/strong>5.74% to 20.28% APR
Fees: <\/strong>None
Loan Terms: <\/strong>24 to 84 months
Minimum Credit Score: <\/strong>680<\/p>\n<\/p>\n
Interest Rate Range: <\/strong>3.09% to 35.99% APR
Fees: <\/strong>0% to 8%
Loan Terms: <\/strong>36 or 60 months
Minimum Credit Score: <\/strong>600<\/p>\n<\/p>\n
Interest Rate Range: <\/strong>4.99% to 35.99% APR
Fees: <\/strong>Varies by lender
Loan Terms: <\/strong>24 to 84 months
Minimum Credit Score: <\/strong>Varies by lender<\/p>\n<\/p>\n
Interest Rate Range: <\/strong>2.99% to 19.99% APR
Fees: <\/strong>None
Loan Terms: <\/strong>24 to 144 months
Minimum Credit Score: <\/strong>High, but not specified<\/p>\n<\/p>\n
Interest Rate Range: <\/strong>6.99% to 19.99% APR
Fees: <\/strong>None
Loan Terms: <\/strong>36 to 72 months
Minimum Credit Score: <\/strong>660<\/p>\n<\/p>\n
Interest Rate Range: <\/strong>5.99% to 35.99% APR
Fees: <\/strong>0.99% to 5.99%
Loan Terms: <\/strong>36 or 60 months
Minimum Credit Score: <\/strong>600<\/p>\n<\/p>\n