How to Get a Debt Consolidation Loan
- Make a list of your current debts before you apply to know the loan amount you should request.
- Calculate your current interest payments to see how much you may potentially save with a debt consolidation loan.
- Apply for a loan to see your personal debt consolidation loan rates in which you may qualify.
- Shop around to find the best personal loan rates and terms for you.
- Accept Your Offer!
How a Debt Consolidation Loan Works
A debt consolidation loan works by consolidating your debt into one, simple monthly payment. It is an unsecured personal loan that you may apply for without impacting your credit score. Once you are approved, you may use the funds to pay off credit card balances, medical bills, and any other debt that you may have accrued.
Where Can I Get a Loan to Consolidate My Debt?
Getting a loan to consolidate debt has never been easier. However, most personal loan companies do require a good credit history since these are unsecured personal loans. Potential personal loan borrowers check to see what their interest rate may be, and to see if they are approved, without impacting their credit score.
Pros and Cons of Debt Consolidation Loans
There are many pros of debt consolidation loans and a few potential cons as well. Thousands of consumers are getting a personal loan to consolidate credit card debt because they often save money on interest over time, improve their credit score, or they solve a financial challenge they currently face. Debt consolidation loans make it easier to manage monthly payments and often help the borrower gain more control over their debt.
Fixed APR from 5.99%-29.99%*
Research your options without impacting your credit score
Pay back options with clear terms
Best Egg customer reviews that consolidated debt
“Getting a loan to consolidate our bills was crazy easy. We checked reviews before moving forward and everyone said great things. We tried it and sure enough we were approved in a day and had the funds in our account the next day!!! It was so simple and now we are paying off this debt even faster than before because of the low interest rate. Highly recommended!”
— Nicholas S, Consumer Affairs
“I couldn't be more thankful for this company and the ease and simplicity with the whole process. From beginning to end the application was seamless and extremely quick. I was able to secure a loan for a substantial amount of money even with a previous bankruptcy. Granted I have worked hard over the past few years to establish credit and pay off debt. However, my credit score could be better and most companies wouldn't even consider me with the current rate I have which is around 675-700. This company has been a lifesaver and life-changer. The interest rates are beyond reasonable and the fact there is no pre-pay penalty is amazing. I have and will continue to recommend this company to family and friends. I will also apply for another loan once this loan has been paid off.”
— Melissa, Consumer Affairs
“Thank you very much. I can pay off some bills and consolidate payments and maintain some financial peace. Blessings.”
— William, Best Company
Check your rates with Best Egg
Let’s be honest. No one wants to talk about this stuff. Talking about debt isn’t fun, and money isn’t easy.
We don’t believe you need to be the next debt consolidation savant to just be able to live your life.
Best Egg personal loans range from $2,000 to $35,000 with Annual Percentage Rates (APRs) starting from 5.99% to 29.99%*, and fixed terms that can help you pay it off faster or make monthly payments more manageable.
Applying for a Best Egg Personal Loan is easy
Subject to loan approval and verifications, your money could be deposited into your bank account in as little as one business day. You can relieve the burden of credit card debt sooner and get back on track in no time.