Debt Consolidation Loans

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.

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.

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.