If you are looking for the best debt consolidation loans with guaranteed approval, you will find it in this post.
What is a Debt Consolidation Loan? A debt consolidation loan is a loan to pay off your existing debts. By using the power of a debt consolidation loan, you can combine multiple high-interest debts into one. This is an excellent way of saving money, paying lower EMIs, and managing finances better. Once you clear up your debts, you can repay the loan in convenient installments over time
Marcus is a great option for anyone looking for a debt consolidation loan between $3,500 and $40,000. The company offers direct consolidation payments to third-party creditors. The lender has an APR range of 6.74% to 19.74%. Besides, Marcus has the option for autopay.
The lender doesn’t have any origination, late payment, insufficient funds or prepayment fees. Besides, the lender allows borrowers to change their payment date up to three times. However, it’s important to bear in mind that you need to have a minimum credit score of 660. As far as funding goes, it can take up to four days after the loan gets approved.
FreedomPlus has been around since 2014 and is an excellent option to choose if you are looking for debt consolidation loans. The lender has an APR range of 7.99% to 29.99%. You can apply for a minimum loan amount of $7,500 and a maximum loan amount of $40,000. The lender requires you to have a minimum credit score of 620 to qualify for a loan.
The platform charges an origination fee of 1.99% to 4.99% of the loan amount. The platform offers direct creditor payment. However, the application process is not entirely online and besides, the lender requires the applicant to have a minimum income requirement to qualify for the loan. Once the loan is approved, the lender will transfer the funds to your bank within 48 hours.
My third pick is Discover, one of the leading personal loan providers in the USA. Discover has its coverage across 50 states and has been around for a long time. The platform has an APR range of 5.99% to 24.99%. You can apply for a minimum loan amount of $2,500 and a maximum loan amount of $35,000. You need to have a minimum credit score of 660 to apply for a loan with Discover.
As far as the loan terms go, Discover comes with loan terms of up to seven years. The platform doesn’t charge any late fees, origination fees or prepayment penalties. Besides, the lender has the option to pay creditors directly.
Upgrade has been around since 2017 and offers loans to borrowers with poor credit history. The platform requires you to have a minimum credit score of 560 to qualify for a loan. You can apply for a minimum loan amount of $1000 and a maximum loan amount of $50,000 with Upgrade.
The best part is Upgrade pays your creditors directly if you need to consolidate your debts. Upgrade doesn’t have any prepayment penalty. However, the platform charges an origination fee of 2.9% to 8% of the total loan amount.
Happy Money was founded in 2009 and is a good loan option with flexible repayment terms. The lender has an APR range of 5.99% to 24.99%. The lender requires you to have a minimum credit score of 640 to qualify for the loan. You can apply for loan amounts from $5000 to $40,000.
The lending platform charges an origination fee of 0% to 5%. However, it doesn’t charge any late fees, annual fees or prepayment penalties. Happy Money offers Directly third-party creditor payments.
You think you have a lot of debts to pay and you are having a hard time in managing your debts? Well, this is where a debt consolidation loan comes into play. Honestly, there is no point bearing the burden of debts day after day and the only meaningful thing you can do about it is get rid of it as quickly as possible. On top of that, some debts may have high interest rates and the more you delay in clearing them, the more you have to pay. This can trick you to a large extent and many have suffered from accumulated debts over time in the past.
Debt Consolidation Loan is a wonderful concept and has proved to be God sent for many people over the years. In this comprehensive post, I will explain everything that you need to know about debt consolidation loans. Most importantly, I will present you with five best debt consolidation loans with guaranteed approval.
Getting a debt consolidation loan can largely help you in getting rid of your debts, especially high interest debts. Interestingly, these days you have a lot of debt consolidation loan lenders to choose from. Most importantly, the minimum credit score requirement varies from lender to lender. Hence, you can get a debt consolidation loan approved even if you have a bad credit score. However, you must go through the eligibility criteria carefully before applying for a loan with any lender.
It’s also wise to always check the APR, charges, and loan terms details ahead of applying for a loan with any lender. I have shared five excellent debt consolidation loan lenders for you to choose from. You can compare and select the best lender for yourself to apply for a debt consolidation loan with.
I have listed five best debt consolidation loan lenders based on APR, charges, loan terms and eligibility. Here are my picks:
1.Marcus
2. FreedomPlus
3. Discover
4. Upgrade
5. Happy Money
Here are a few steps you need to follow while applying for a debt consolidation loan:
-> Before applying for a loan, you need to first determine the loan amount that you genuinely need to apply for
-> You can do it my listing your debts and payments
-> Next up, you need to check your credit score
-> After that, you need to find a lenders that match your credit scores
-> You must also compare the various lenders to choose the right lender in terms of APR, charges, loan terms, etc.
-> After you are done with the previous steps, you can apply for a loan online
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