Best Personal Loans for Debt Consolidation

If you’re struggling with debt, you’re not alone. In fact, according to a recent study, the average American has $38,000 in personal debt. That’s a lot of money to be paying off each month! One way to get out of debt is to consolidate your loans into one monthly payment.

This can be a great way to save money on interest and get out of debt faster. But how do you know which personal loan is right for you? In this blog post, we will discuss the best personal loans for debt consolidation.

We will compare different loan options and help you choose the best one for your needs. So if you’re ready to get out of debt, read on for more information!

Best Overall and for Low Fees: Marcus by Goldman Sachs

Marcus by Goldman Sachs is our pick for the best overall personal loan for debt consolidation. Marcus offers low-interest rates, no fees, and flexible repayment terms. You can borrow up to $40,000 with Marcus and choose a repayment term of 3 to 6 years.

If you’re looking for a personal loan with low fees, Marcus is also a great option. There are no origination fees or prepayment penalties with Marcus. You’ll also benefit from a 0.25% discount on your interest rate when you enroll in autopay.

Runner-Up and Best for Flexible Repayment Options: Discover Personal Loans

If you’re looking for a personal loan to help with debt consolidation, Discover Personal Loans is a great option. They offer flexible repayment options, so you can choose a plan that fits your budget. Plus, they have a competitive interest rate and no fees for early repayment.

Discover Personal Loans is our runner-up pick for the best personal loan for debt consolidation. They offer flexible repayment options, so you can choose a plan that fits your budget. Plus, they have a competitive interest rate and no fees for early repayment.

If you’re looking to consolidate your debt, Discover Personal Loans is a great option. Their interest rates are competitive, and they offer flexible repayment options to fit your budget. Additionally, there are no fees for early repayment.

Best for Consolidating Credit Card Debt: Happy Money

If you’re looking to consolidate your credit card debt, Happy Money is a great option. With low-interest rates and a flexible repayment plan, Happy Money can help you get out of debt quickly and efficiently. Plus, there’s no prepayment penalty, so you can pay off your debt early if you want.

Debt consolidation can be a great way to save money on interest, reduce your monthly payments, and get out of debt faster. But not all debt consolidation loans are created equal. Some lenders charge high fees, others have inflexible terms, and some require collateral.

So how do you choose the best loan for consolidating your credit card debt? Look for a loan with a low-interest rate, flexible repayment terms, and no fees. And be sure to read the fine print carefully before you sign any paperwork.

The Happy Money personal loan is a great option for consolidating credit card debt. It has a low-interest rate (as low as 5.99% APR), flexible repayment terms (you can choose from 2-5 years), and no hidden fees or prepayment penalties. Plus, you can get up to $35,000 with no collateral required.

Best for Low Rates: LightStream

LightStream is a great option for those looking for low-interest rates on their personal loans for debt consolidation. This lender offers some of the lowest rates in the industry, making it a great choice for those who are looking to save money on their loan.

One of the best things about LightStream is that they offer a number of different repayment options, so you can find one that fits your budget. They also have a very fast approval process, so you can get your loan funded quickly. If you’re looking for a personal loan with low-interest rates and flexible repayment options, LightStream is a great choice.

Best for Large Debts: SoFi

If you’re looking to consolidate your debt and have a large amount of debt, then SoFi is a great option. They offer personal loans with low-interest rates and flexible repayment terms. Plus, they have a program called “Refi My Loan” which allows you to refinance your loan and get a lower interest rate.

If you’re looking to consolidate a large amount of debt, SoFi is one of the best personal loan providers out there. With loan amounts up to $100,000 and competitive rates, SoFi can help you get your debt under control in no time.

One of the great things about SoFi is that they offer both fixed-rate and variable-rate loans, so you can choose the option that best suits your needs. Fixed-rate loans have interest rates that remain the same for the life of the loan, while variable-rate loans have rates that can fluctuate with the market.

SoFi also offers a number of other perks, such as 0% origination fees and no prepayment penalties. And if you lose your job, SoFi will work with you to defer your payments until you find another job. If you’re looking for a personal loan to consolidate your debt, SoFi is definitely worth considering.

Best for Bad Credit: Upgrade

If you have bad credit and are looking for a personal loan to consolidate your debt, Upgrade may be the best option for you. With rates as low as 5.99% APR and a maximum loan amount of $35,000, Upgrade offers competitive terms for borrowers with less-than-perfect credit.

Additionally, Upgrade offers a tool called the “Credit Simulator” which can help you estimate your monthly payments and see how consolidating your debt with a personal loan can save you money.

If you’re looking for a personal loan to consolidate your debt but have bad credit, you may be wondering where to turn. Thankfully, there are some lenders who specialize in working with borrowers with less-than-perfect credit. Here are some of the best options for bad credit debt consolidation loans.