Debt Consolidation Loans: Compare the 5 Top Lenders


One of the most common reasons borrowers take out a personal loan is to consolidate debt. Combining your debt into a single payment makes it simpler to manage your monthly debt expenses and stay on top of your finances.

Compare the top 5 lenders in the industry to find the lender that best fits your needs.

1. LendingTree

  • Minimum Credit Score:  629
  • Loan Amount: Up to $1,000 to $50,000
  • Loan Term: 3 months - 15 years
  • APR range: 4.69% - 35.99%

Why go with LendingTree? LendingTree operates as a loan marketplace, matching borrowers with the most relevant loan providers within their network of more than 1,500 lenders. 

The advantage here: Submit one loan application and receive multiple offers - without having to wade through dozens of forms.

Learn More at LendingTree 

2. AmOne

  • Minimum Credit Score: N/A
  • Loan Amount: Up to $1,000 to $40,000
  • Loan Term: 2 months - 15 years
  • APR range: 4.99% - 35.99%

Why go with Guide To Lenders? AmOne is another loan marketplace that’s ideal for borrowers with average to poor credit who need funds quickly. The simple application allows you to shop around without having to visit every single lender individually.

3. LendingPoint

  • Minimum Credit Score:  600
  • Loan Amount: Up to $3,500 to $20,000
  • Loan Term: 2 months - 15 years
  • APR range: 15.49% - 35.99%

Why go with LendingPoint? LendingPoint is a direct lender that works with borrowers who have average to bad credit. Funding with LendingPoint is fast. Borrowers can receive the loan amount by the next business day, though in some cases it takes several days.

4. LoansUnder36

  • Minimum Credit Score: N/A
  • Loan Amount: Up to $500 to $35,000
  • Loan Term: 3 months - 6 years
  • APR range: 5.99% - 35.99%

Why go withLoansUnder36? Another loan marketplace, LoansUnder36 is ideal for borrowers who have less than ideal credit. The 36 in the lender’s name refers to the annual interest rate - the company only works with lenders who offer loans under 36% APR.

Lenders who offer interest rates above 36% should only be considered if you have poor credit.

Learn More at LoansUnder36

5. Credible

  • Minimum Credit Score: 680
  • Loan Amount: Up to $2,000 to $100,000
  • Loan Term: 24-84 months
  • APR range: 4.99% - 35.99%

Why go with Credible? ​​Credible is a loan broker that provides fast and free offers from reliable lenders. Credible returns up to 6 preliminary loan offers so that you can easily compare your options and then contact the lender directly to complete the loan process. They only work with borrowers who have good credit, which allows them to offer better loan terms. 

Learn More at Credible

Using a personal loan to pay off multiple debts is a smart way to get a handle on your finances, but it shouldn’t be the only step you take towards building a stronger financial future. Consider the cash injection as a launch pad to start a savings plan, budget and build up your credit score. And if you’re looking for more information on the top lenders of 2018, take a look at our expert reviews and helpful advice.

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