Top Debt Consolidation Providers
Read about the top debt consolidation providers on today’s market! Learn how these services can help you take control of your mounting debt problems.
✔ Last updated: 2020-03-23
Are you having problems with your mounting debt? These top debt consolidation providers will surely help you with that! Learn more about these loan providers by finding out what these services offer and how they landed on our top picks!
But first, you have to understand how this type of loan works, before you apply for one.
✔ FREE no-risk debt relief consultation
✔ Saved over 400,000 clients
✔ Resolved $8+ billion in debt
✔ FREE no-risk consultation
✔ Settlement plans for nearly everyone
✔ Relief in 24-48 months
✔ FREE debt relief savings estimate
✔ Helped over 200,000 customers
✔ Helped resolve $1+ billion in debt
✔ FREE consultation with debt relief pro
✔ Settled millions of dollars
✔ Relief in 24-48 months
✔ FREE consultation, no obligation
✔ Settlement or negotiation for most debts
✔ Consolidation in 12-60 months
✔ FREE no-obligation savings estimate
✔ Counseled 180,000+ people since 2000
✔ Fast consolidation and tax relief
What is Debt Consolidation?
Debt consolidation is the process of taking out a new loan to pay off your existing liabilities and consumer debts. It is like combining multiple debts into a single one. Usually, it has more favorable terms like lower interest rate, lower monthly payment, or in some cases, both. Consumers can avail debt consolidation as a way to deal with credit card debt, student loan debt, and any other types of debt.
How to Avail Debt Consolidation Loan?
There are a number of ways for consumers to lump their debts into one single payment. The most popular method is to consolidate all your credit card payments onto one new credit card which can be a great idea if the new credit card will charge a little, or sometimes, no interest at all for a period of time. You can even utilize your current credit card’s balance transfer feature.
There are other forms of consolidation consumers apply for such as home equity loans or home equity lines of credits. The interest in these types of loans is deductible for taxpayers.
Advantage of Debt Consolidation Loans
Debt consolidation loans are very helpful for people who have a lot of debts, who owe $10,000 or more, have accounts with high-interest rates or high monthly payments, are having a hard time in paying, or even for people who are not useful in negotiating for lower interest rates on loans.
A consolidation loan can be helpful to your credit score someday. If you pay the balance off sooner, then you can expect a slight boost to your credit score.
How to Choose the Top Debt Consolidation Loan Providers
In choosing the best provider for your debt consolidation, you have to know where to get these loans. There is a number of ways of applying for these loans.
Online lenders are best for personal loans. In fact, they are better than banks for this type of loan. They are widely available, and you do not have to be a member to apply and get approved for one.
The annual percentage rate these online lenders offer is between 5% and 36%. Most of the debt consolidation lenders fall between 5% to 40%, but the lowest rates are only provided to borrowers with strong credit history. This is important when considering lenders with high maximum APRS.
So if you are planning to get a loan consolidation loan, make sure to apply in one of the providers that we mentioned!