Debt Consolidation Loans — Stop Juggling Multiple Payments
Replace multiple high-interest debts with a single, lower-rate loan. PrimeLendings matches you with licensed lenders offering debt consolidation loans from $500 to $35,000 — bad credit considered, soft pull only.
A debt consolidation loan combines multiple debts (credit cards, payday loans, medical bills) into one new loan with a single monthly payment — ideally at a lower interest rate. PrimeLendings connects you with licensed lenders offering $500–$35,000 debt consolidation loans. Applications take 5 minutes, use a soft credit pull, and bad credit is considered. If approved, the funds can be used to pay off existing debts, leaving you with just one payment.
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Built differently
for Debt Consolidation Loans
One application. Licensed lenders across all 50 states. Faster, safer, and more transparent than shopping lender-by-lender.
One Payment Replaces Many
Instead of tracking 4–6 minimum payments each month, debt consolidation gives you a single fixed payment on a known payoff date.
Potentially Lower Interest Rate
Credit cards average 20–30% APR. A debt consolidation loan from PrimeLendings network lenders can be 8–18% APR for qualified borrowers — real savings.
Bad Credit Considered
Lenders in our network evaluate your full financial picture — income, debt-to-income ratio, and bank account activity — not just your credit score.
Soft Pull at Matching Stage
Checking your consolidation loan options does not impact your FICO score. Only a soft inquiry is used during the matching stage.
Fixed Monthly Payments
Unlike revolving credit card debt, a consolidation loan has a fixed term (12–60 months) and a fixed payment you can plan around.
Can Stop the Payday Loan Cycle
If you are trapped in multiple payday loans, a consolidation loan with longer repayment terms at lower APR can break the cycle permanently.
How Much Can a Debt Consolidation Loan Save You?
The savings depend on your current interest rates and the new consolidated rate. Here's a realistic example:
| Debt | Before (Multiple) | After (Consolidated) |
|---|---|---|
| Credit Card 1 ($3,000) | 24% APR — $90/mo min | → Consolidated |
| Credit Card 2 ($2,000) | 28% APR — $60/mo min | → Consolidated |
| Payday Loan ($500) | 391% APR — $575 in 2 weeks | → Consolidated |
| Medical Bill ($1,000) | 0% / collections | → Consolidated |
| TOTAL ($6,500) | $225+/mo + payday trap | $6,500 @ 15% APR = $155/mo for 48 months |
Example is illustrative. Actual APR depends on creditworthiness, lender, and state. Total interest paid over 48 months at 15% APR on $6,500 ≈ $2,500 — versus ongoing revolving card interest with no payoff date.
Debt Consolidation Loan vs. Other Methods
Consolidation Loan
✓ Single payment, fixed term, potentially lower APR, clear payoff date
✗ Requires income and some creditworthiness
Balance Transfer Card
✓ 0% intro APR for 12–18 months
✗ Requires good credit (670+), transfer fees, rate spikes after promo
Debt Management Plan
✓ Non-profit credit counseling, reduced interest
✗ Takes 3–5 years, requires closing accounts, impacts credit access
Debt Consolidation Loans for Bad Credit
Many people seeking debt consolidation have bad credit — often caused by the very debts they're trying to consolidate. PrimeLendings works with lenders who understand this cycle:
- ✓Lenders evaluate your debt-to-income ratio and monthly income as primary factors
- ✓Credit scores as low as 520 may be considered by certain network lenders
- ✓Successfully repaying a consolidation loan improves your credit score over time
- ✓Removing high-utilization credit card balances boosts your score immediately upon payoff
PrimeLendings vs. Your Options
On the factors that matter most to borrowers.
| Feature | PrimeLendings | Banks |
|---|---|---|
| Application | 5 Min Online | Days / Weeks |
| Credit Required | All Profiles Considered | Good – Excellent |
| Availability | 24/7 Online | Business Hours |
| Funding Speed | Next Business Day* | 3–10 Business Days |
| Pre-Qual Inquiry | Soft Only | Always Hard Pull |
| Prepayment Penalty | None | Sometimes |
| All 50 States | Yes — licensed lenders | Varies by bank |
*Next-business-day funding typical; not guaranteed. Timing depends on lender and bank ACH schedule.
Why borrowers trust PrimeLendings
Licensed Network
State-licensed & TILA-compliant lenders only.
Full Transparency
APR, fees, and schedule disclosed before signing.
Soft Pull Only
FICO score unaffected at matching stage.
Zero Obligation
Review offers — accept only what fits you.
Debt Consolidation Loans by State
All 50 States →Frequently Asked Questions
Answered by licensed financial experts.
Ready to get matched with a Debt Consolidation Loans lender?
One 5-minute form. Soft pre-qualification. Licensed lenders in all 50 states. No commitment until you sign.
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Marketplace Disclosure: PrimeLendings is a 100% online loan marketplace, not a direct lender. We do not originate, fund, or service loans. We instantly match borrowers with licensed lenders across the US who make all independent credit and funding decisions. Loan approval, rates (5.99%–35.99% APR for personal loans), and terms are determined solely by the matched lender. Submitting a request does not guarantee loan approval. Short-term representative example: $500 borrowed for 14 days at $15/$100 = $575 total (391% APR). Short-term products are high-cost — use for genuine emergencies only. Loan terms, APR, fees, and availability vary by lender and state. A lender may perform a hard credit inquiry before final approval. Terms apply. Full rate & fee schedule.