Debt Consolidation Loans

Save money on high-interest debt and get out of debt faster.

Payoff Credit Card Personal Loan

Payoff provides fixed-rate debt consolidation loans to borrowers solely for the purpose of paying off credit card debt. According to the company, the average amount of debt borrowers pay off is $18,000. The online lender focuses on debt consolidation loans with low rates, flexible payments and ongoing support and financial guidance.

Key information

  • Minimum credit score required: 640
  • Minimum gross income required: None
  • Minimum credit history: 3 years
  • Maximum debt-to-income ratio: 50% or less

Estimated APR*

13.9%

Est. Monthly Payment

$340

Min credit score

640

Loan Term

up to 5 years

LendingClub personal loans

LendingClub is peer-to-peer lender that offers personal loans. Finding out your potential rate won’t affect your credit, and you may be eligible for a large unsecured personal loan with competitive rates. However, with mixed ratings from former borrowers and a few past problems with honesty, you’ll want to carefully consider your terms if you decide to apply.

Key information

  • Minimum credit score required: 640+
  • Minimum gross income required: generally high income
  • Minimum credit history: generally several years
  • Maximum debt-to-income ratio: generally low ratio

Estimated APR*

13.7%

Est. Monthly Payment

$343

Min credit score

640

Loan Term

up to 5 years

Best Egg personal loans

Are you looking for a personal loan with a competitive interest rate that you can apply for online? Since Best Egg launched in 2014, more than 350,000 borrowers have taken out Best Egg personal loans, with the total amount in loans offered over $5 billion.You can borrow $2,000 to $35,000 through a Best Egg loan. The term of the loan can be up to 5 years, but available offers will vary by customer.

Key information

  • Minimum credit score required: 640
  • Minimum gross income required: generally high income
  • Minimum credit history: generally 3 years and more
  • Maximum debt-to-income ratio: generally low ratio less than 20%

Estimated APR*

9.3-14.5%

Est. Monthly Payment

$332

Min credit score

640

Loan Term

up to 5 years

Debt

What is debt consolidation?

Debt consolidation combines all of your debt into one, manageable monthly payment — often with lower interest.

Balance transfer credit card

Move all of your debt to one credit card, usually with an introductory APR of 0% for 9, 12, 15, 18 or 21 months.

Debt consolidation loan

Borrow up to $100,000 to pay off your account balances. Afterwards, you only need to pay one monthly repayment on the new loan.

Debt relief

A company negotiates with your creditors to lower your APR and monthly repayments (debt management) or allow you to pay it off in a lump sum less than your original balance (debt settlement).

Secured loan

Get a lower interest rate by borrowing against an asset, such as the equity you’ve built in your home, the value of your car or a certificate of deposit.

Disclaimer

CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.

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