Right now, Americans hold more than a whopping $4 trillion in consumer debt. If you’re one of the many individuals dealing with this problem, it’s important to know that you have options.
In this regard, debt consolidation loans can be one of the best options you explore — especially if you have a mountain of debt from a lot of different creditors.
Getting one of these loans simplifies the process of getting out of debt and helps you work your plan to get your balances down to zero. If this is what you’re looking for, it’s important that you find the right consolidation loan for your needs.
Read below to learn a little bit more about the best loan consolidation options available.
1. Marcus Goldman Sach’s Loan Consolidation
There’s a reason that a number of experts within the financial industry call the Marcus Goldman Sach’s consolidation loan the absolute best available.
These loans vary in the amount that you can receive — from as little as $3,500 to $40,000. No matter what sort of debt you have racked up, you’ll appreciate the fact that this loan reduces the burden, without charging you the same outrageous fees that you’ll get with other loan consolidation options.
The bank itself is worth more than $64 billion and is one of the most recognizable financial institutions on the planet. As such, you can count on customer service and attention whenever you have questions about your loan.
FreedomPlus has emerged as a quality loan consolidation company that has proven itself reliable and trustworthy.
They have an A+ rating with the Better Business Bureau (BBB) and are known to provide quick decisions and money transfers. You have to have a minimum credit score of 620 with these loans, and can receive loans of at least $7,500 for your debt consolidation.
You will have access to low rates and can also seek a co-signer.
This consolidation loan is excellent if you only need a small amount and want quick approval.
With Prosper, you can get a loan as little as $1,000 and as much as $40,000 if you have at least a 640 credit score. You will have upwards of five years to pay off one of these loans and will be subject to some of the most reasonable rates you’ll find.
What’s more, Prosper is always on the cutting edge, as they were one of the first to emerge in the peer-to-peer lending landscape, which has taken off greatly every sense.
4. Accredited Debt Resolution
With Accredited Debt Resolution, you’ll have the benefit of being considered for a loan without having to meet a minimum credit score. This makes the whole process much less of a struggle.
They accept consolidation for both secured and non-secured debt and are accredited by the Better Business Bureau (BBB). Depending on the debt consolidation you choose whether a personal loan or line of credit for restructuring your debt available terms are usually 2 to 4 years.
5. Light Stream
This is a consolidation loan option that you will want to take advantage of if your credit is already in good shape. It allows you to pay off your debt in a timely manner, and without being subject to exorbitant fees.
You will have the benefit of low interest rates and can take out loans as little as $5,000 and as much as $100,000. You can also put your full faith in these loans since they are backed by Sun Trust, a national financial institution that has assets valued at more than $200 billion and constantly growing.
6. Lending Club
Lending Club is yet another company that has truly carved out its own piece of the market with the advent of online lending companies. They are very reputable and have some of the lowest interest rates you will find.
Instead of them providing you loans directly, they take your application and can match you with the best partners available, based on your needs.
For instance, they offer rates in the ballpark of 6.95 percent for people with good credit. The interest rates may also reach as high as 35.89 percent if you are working on rebuilding your credit.
After you have applied, you will have the benefit of deciding which loan is best for you.
These loans are easy to apply for online and have different platforms based on your needs. Their loan options start at $2,000, and the company offers loans as high as $35,000.
The interest rates are competitive, and you will have upwards of five years to pay off the loans. Keep in mind that Avant does not allow you to get a co-signer for your consolidation loan.
Find the Best Loan Consolidation Options Available
When you consider the best loan consolidations on the market, you can breathe and understand that help is on the way. The options above are great no matter what sort of debt you have found yourself in, but it does take time to research each option to find out which is best for your needs.
The good news is that Debthunch offers a one stop solution to help you quickly figure out which option is best to get you the debt resolution help you need. See customized offers in real time online when you contact us today or give us a call at (800) 299-3511.