Frequently asked questions

It’s combining several debts — usually high-interest credit cards — into one new loan with a single fixed monthly payment. The goal is a simpler payment and, ideally, less money lost to interest.

With most lenders, getting an initial rate estimate uses a soft credit check, which doesn’t affect your score. A hard inquiry only happens later if you formally apply and proceed.

It varies by lender. Top-tier lenders advertise the lowest rates but often decline applicants below about 660. Others work with good-but-not-perfect credit (around 640) or lower, usually at higher rates. Approval also depends on income and other factors.

Personal loans for consolidation typically range from about 7% to 36% APR depending on your credit, with terms commonly between 2 and 5 years. Some lenders charge an origination fee; others don’t — so compare the total cost, not just the rate.

It depends on your numbers. If the loan’s rate and total cost are lower than what you’re paying on your cards, you can save on interest and get a fixed payoff date. If a longer term lowers your payment but raises total interest, the math changes. Use the calculator to compare your own situation.

A consolidation loan pays your debts in full and you repay the loan — your accounts stay in good standing. Debt settlement negotiates to pay less than you owe and can hurt your credit. They’re very different paths; a consultation can help you understand which fits.

No. The goal here is to help you understand your options and find a good fit. We’ll point you to the lender that makes sense for your situation, and we’re upfront about any lender we’re compensated by.