5 Best Debt Consolidation Loans for Bad Credit (Rates & Reviews)
Hello Sahabat LoanPlafon.id, are you struggling to pay off various debts? Do you find it difficult to manage multiple payments on different due dates? If you answered yes, then debt consolidation may be a solution for you.
Debt consolidation is the process of combining multiple debts into one. With debt consolidation, you only have to make one payment each month, with a lower interest rate compared to your previous debts. Furthermore, if you have bad credit, you can still qualify for a debt consolidation loan. Here are the 5 best debt consolidation loans for bad credit:
1. OneMain Financial
OneMain Financial is a well-known lender that offers personal loans to borrowers with bad credit. They offer debt consolidation loans of up to $20,000, with interest rates ranging from 18.00% to 35.99%. However, note that OneMain Financial charges an origination fee of up to 10%, so make sure to factor that into your calculations.
2. Avant
Avant is another popular lender that offers personal loans to borrowers with bad credit. They offer debt consolidation loans of up to $35,000, with interest rates ranging from 9.95% to 35.99%. They also offer a 2% to 4.75% origination fee, so make sure to take that into account when considering their loan.
3. LendingPoint
LendingPoint is a lender that specializes in loans for those with bad credit. They offer debt consolidation loans of up to $25,000, with interest rates ranging from 15.49% to 34.99%. One benefit of LendingPoint is that they do not charge prepayment penalties.
4. Upgrade
Upgrade is an online lender that offers personal loans and debt consolidation loans to those with bad credit. They offer debt consolidation loans of up to $50,000, with interest rates ranging from 5.94% to 35.97%. However, note that Upgrade charges an origination fee of up to 6%, so make sure to consider that additional cost.
5. Peerform
Peerform is a peer-to-peer lending platform that offers debt consolidation loans to those with bad credit. They offer debt consolidation loans of up to $25,000, with interest rates ranging from 5.99% to 29.99%. However, note that Peerform charges an origination fee of up to 5%, so make sure to factor that into your calculations.
In conclusion, if you have bad credit and are struggling to manage multiple debts, a debt consolidation loan may be a solution for you. Make sure to do your research and compare loan options before deciding which lender is right for you.
Kesimpulan
Debt consolidation can be a useful tool for those with bad credit. By combining multiple debts into one, you can simplify your payments and potentially save money on interest. However, it’s important to choose the right lender and loan option for your specific situation, taking into account factors such as interest rates, fees, and loan amounts. With the 5 best debt consolidation loans for bad credit listed above, you can start exploring your options and take control of your finances.
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