5 Best Debt Consolidation Loans

  • Kinrot
  • May 26, 2024

Debt consolidation is the way to get out of all debt. Personal loans can be used to consolidate debt and increase your monthly cash flow. Of all the opportunities, personal loans that offer debt consolidation are perhaps the most important. This article lists the best debt consolidation loans.

The 5 Best Debt Consolidation Loans

Here is the list of the best debt consolidations loans: Choosing can be difficult, so we’ve listed the best to make the process easier.

1. Upgrade

The Upgrade Program was founded in 2017 by a team of fintech executives. Our headquarters are in San Francisco. Upgrading gives you flexibility in terms of payments and loan amounts.

The platform has accessible loan terms and is suitable for countless borrowers.

To qualify for an upgrade loan, you must meet requirements such as a minimum credit score and two or more accounts in your credit history. The loan amount ranges from 100,000 to 500,000 US dollars.

 2. SoFi

it’s also known as Social Finance Inc., is a fintech company founded in 2011 by Stanford Business School students. SoFi offers student refinancing among other services.

The application process is very easy. TYou must prequalify for the loan by stating why you are applying for it and the amount you need. Sign up for SoFi’s automatic payment program and get paid within 3 days for discounted rates.

 3. Avant

Avant is an online lending company founded in 2012 and headquartered in Chicago, Illinois.

We offer unsecured personal loans that can be used to cover costs and consolidate existing debt. The company is registered in 42 US states.

Avant offers him from $2,000 to $35,000 With Avant, you don’t have to worry about bad credit when applying.

 4. LightStream

Lightstream has won several awards, including “Best Debt Consolidation Loan.”

Lightstream, also a subsidiary of Truist, offers personal loans for everything from home renovations to credit card consolidation to car refinancing to medical bills and more.

The advantage of Lightstream is that it offers both single and shared applications that need to be disclosed before application.

You can apply online, and, once approved, you will always receive your loan funds within a day.

Lightstream gives you flexibility in choosing your loan amount and receiving your money. The minimum is $5,000, and the maximum is $800,000. You can choose to send money on a specific date or after 30 days.

 5. Upstart

UpStart is a lender that relies on artificial intelligence instead of the usual qualifiers such as credit history and debt-to-income indicators of credit utilization.

It is also a lending platform that was co-founded by former Google employees in 2012. UpStart offers fixed-rate personal loans that you can use to cover your expenses. It’s the best debt consolidation loans company you can try.