Wednesday, June 7th
2023 Debt Consolidation Company Reviews
Upstart
- High loan amounts from $1,000 to $50,000 (1)
- Fixed 3 or 5 year terms (3)
- APR's from 3.5% to 35.99% (3)
- Borrowers can get funds as fast as one business day (4)
- "A" rated and accredited by the BBB
- Origination fees disclosed at the time of loan offer
Upstart knows that a credit score isn't the only factor to consider when evaluating your loan consolidation application. They employ a sophisticated artificial intelligence process that looks beyond just your credit history - making it more likely that you'll be approved for your loan. Happy customers typically receive their money very quickly, and praise this service for being easy and affordable.
LendingTree
- Referral service that matches you with up to 5 lending partners
- Loans available from $1,000 to $50,000
- Repayment terms between 61 days and 180 months
- "A+" rated and accredited by the BBB
- 24+ years in business
LendingTree is an online loan marketplace for every type of borrowing, from auto loans to credit cards and beyond. You can use this service to easily compare offers from up to five lenders at a time, helping you access the best rates and terms for your personal loan. We love the detailed information provided on each lending partner, with thousands of client reviews to help determine which one is the best choice for a personal loan. LendingTree has a great reputation and is a trustworthy option if you want to use a referral service to research and secure a loan.
More Debt Consolidation Company Reviews
The 12 Best Debt Consolidation Companies
Who is the Best Debt Consolidation Company?
Maybe you've gotten overwhelmed by credit card payments and overdue bills, and now you're wondering if there's any light at the end of the tunnel. Or, perhaps you're a financially-savvy consumer who wants to take advantage of lower interest rates, in order to pay off your mounting credit cards bills. Debt consolidation can be a smart strategy either way.
What, exactly, is debt consolidation? It's important to understand that companies offering it may mean different things. For some, debt consolidation is offered as a personal loan: you borrow funds that you use to pay off all of your outstanding debts. Your interest rate should be much lower than your credit cards, and now you've got a simplified, single payment to make each month. This can be a great way to boost your credit score by reducing the likelihood of making late payments (or none at all) and get on your feet again financially. On the other hand, you're in charge of using your loan money responsibly - and not to buy things you don't need!
Debt Consolidation Company FAQ
Continued from above...
Other providers of debt consolidation take a more hands-on approach, giving you credit counseling and even going to bat for you with your creditors. The services they provide may include negotiating a lower debt amount or getting your debt forgiven altogether! You might pay a monthly fee for this kind of debt consolidation, or it might be a flat fee based on how much money they saved you overall.
Either route you choose, there are a lot of options out there. How can you decide which one is right for you? Keep these points in mind as you weigh out the possibilities:
- Approach. Is the debt consolidation accomplished by a personal loan that you have to pass along to your creditors, or is it a more involved strategy? Which one is more likely to leave you better off financially?
- Education. What does the company offer to teach you how to make good financial decisions? Does the service make sure you understand what you're getting into with their approach?
- Eligibility Requirements. Do you qualify for debt consolidation? Some programs require you to have $5,000 or more in unsecured debts. For consolidation via personal loans, you'll pay more in interest if you don't have a decent credit history already, or you may not be approved for a loan.
- Fees. How much will you pay for your debt consolidation? If it's a loan, what's the interest rate and are there any origination fees? If it's a debt settlement strategy, what will your fees be and when will you have to pay them?
- Reputation. What do clients say about the debt consolidation company? Did they get help that was appropriate for their situation from knowledgeable, friendly representatives? Has the Better Business Bureau rated the service? Do people report a significant improvement in their finances after (or preferably while) using the debt consolidation program?
TopConsumerReviews.com has evaluated and ranked the best debt consolidation options available today. We're confident that this information will help you choose a strategy to pay down your debts and get your finances in order!
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