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Debt Consolidation Loans

Take control of your debt

How much do you need?

Ryan and Melissa used a personal loan through LendingClub to consolidate their credit card debt.

Why consolidate debt?

Save time and money with one fixed rate monthly payment.

Simplify with a single payment

Instead of dealing with multiple bills, pay them off all at once.

Get a fixed rate

With an affordable fixed rate, your monthly payment never increases.

Better than a credit card

Eliminate high credit card fees and improve your credit score with a fixed-rate loan.^*

I was able to get a loan to pay off all my credit cards and have one payment per month. To get myself debt free in the next 3 years and get my life back on track. Don't think I will own another credit card again. Thank you.

— LendingClub customer

What is a debt consolidation loan?

A debt consolidation loan is a form of debt refinancing that combines multiple balances from credit cards and other high-interest loans into a single loan with a fixed rate and term. It can also help you save money by reducing your interest rate, or making it easier to pay off your debt faster. A debt consolidation loan may also lower your monthly payment. Depending on your credit profile, a debt consolidation loan could help improve your credit by diversifying your credit mix, showing that you can make on-time monthly payments, and reducing your total debt (as long as you’re not adding any new debt).

How it works

Apply from anywhere. Get your money fast.

Apply online in minutes

Tell us about yourself and how much debt you want to consolidate.

Select a loan offer

Review your monthly payment and interest rate options. Then choose the consolidation loan option you like best.

Get your money

Your loan is automatically deposited into your bank account.

Check My Rate

How much can you save?

Find out how much time and money you could save when you consolidate your debt.

CURRENT DEBT BALANCE

AVERAGE APR

TOTAL MONTHLY PAYMENT

Total Debt

CURRENT DEBT BALANCE

TOTAL MONTHLY PAYMENT

What are the benefits of a debt consolidation loan?

If you have debt balances spread across multiple accounts like credit cards, medical bills, or other high-interest rate loans, a debt consolidation loan at a lower fixed rate could help save you money and simplify your life with one monthly payment. Depending on your credit profile, consolidating credit card debt and other high-interest loan balances into a single loan could help improve your credit by diversifying your credit mix, showing that you can make on-time monthly payments, and reducing your total debt (as long as you’re not adding any new debt).

What customers are saying

Debt Consolidation

Great option for those looking for consolidation and a lower interest rate than other loan options. Thanks LendingClub!

– Alexsis from Forest Hills
consolidated her debt

Seriously relieved my financial situation

My single monthly payment over 36 months is far easier to manage than all the other debts on their own, the interest rate is lower, and I can still pay it off in 3 years.

– VKG from New York
consolidated her debt

Banking of the future

We have a specific date now as to when we'll be debt free!!!! I can't say enough good things about LendingClub.

– Shannon from Ball Ground
consolidated her debt

Get your rate in minutes

Won't affect your credit score

Borrow up to 40,000

How can we help?

You have questions. We have answers.

How much could I save with a debt consolidation loan?

Borrowers report saving more than a thousand dollars over the course of their loan through LendingClub when they use it to consolidate debt or pay off credit cards.^* Personal loans through LendingClub have fixed rates and terms, so your monthly payment never changes, and you can mark the date when you will be debt free.

When comparing your options, be sure that you are factoring in costs such as balance transfer fees, annual fees, and early payoff penalties that you may pay when use credit cards or borrow from other sources.
How does the money get to me?

Your loan funds are automatically deposited right into your bank account, which gives you the flexibility to choose which bills, credit cards, or loans you want to pay down. Depending on your bank, it may take a few days for the money to appear in your account after your loan is issued. Consolidating debt reduces the amount of bills to keep track of each month, and it can save you money if you lower your rate and avoid credit card fees.
How quickly can I get a loan?

For a majority of people in 2018, funds were received in as few as four days. You can help keep things moving along by checking your To Do List to make sure we have all the information and documents we need.

The entire process can be completed from the comfort of your home, or even on your phone. Once your loan is approved, your money is automatically deposited directly into your bank account.

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