Best Debt Consolidation Loans of 2026
Debt consolidation can simplify multiple payments into one and potentially save thousands in interest. These lenders specialize in helping borrowers pay off high-interest debt efficiently.
Our Top Pick
Payoff (Happy Money)
Best Debt ConsolidationPayoff (formerly Happy Money) offers personal loans from $5,000 to $35,000 with APR rates from 9.99% to 29.99%. The platform specializes in credit card debt consolidation, with underwriting optimized for cardholders. Key advantages include no origination or prepayment fees, fast funding (1-2 business days), and credit monitoring tools. Payoff is ideal for those with $5,000+ in credit card debt seeking consolidation into a single lower-rate payment.
Rankings
Payoff (Happy Money)
by Payoff, Inc.
Payoff specializes in credit card debt consolidation through personal loans, offering rates designed specifically for those seeking relief from high-interest card debt.
Key Features
Pros
- • Specialized in credit card debt consolidation
- • Competitive APR rates (9.99% - 29.99%)
- • Fast funding (1-2 business days)
Cons
- • Maximum loan amount of $35,000 (lower than some competitors)
- • Optimized specifically for credit card consolidation (not other uses)
SoFi Personal Loans
by Social Finance, Inc.
SoFi offers some of the lowest rates available with excellent customer service and flexible borrowing options, making it ideal for creditworthy borrowers seeking competitive terms.
Key Features
Pros
- • Lowest APR rates among mainstream lenders (6.99% - 24.99%)
- • No origination fees or prepayment penalties
- • Soft credit check for prequalification without impact
Cons
- • Requires good to excellent credit score (typically 680+)
- • Limited accessibility for borrowers with bad credit
LightStream
by Truist Bank
LightStream, backed by Truist Bank, delivers exceptionally competitive rates with flexible terms and same-day funding, making it a top choice for rate-conscious borrowers.
Key Features
Pros
- • Lowest APR rates available (6.24% - 24.99%)
- • No origination fees
- • Same-day funding
Cons
- • Requires very good to excellent credit (typically 700+)
- • No co-signer option available
Achieve Personal Loans
by Elevate Credit, Inc.
Achieve offers flexible personal loans and debt management services, focusing on helping borrowers consolidate debt and improve financial situations.
Key Features
Pros
- • Flexible loan amounts ($2,000 - $35,000)
- • Competitive APR rates (9.99% - 35.99%)
- • Fast funding (1-3 business days)
Cons
- • Maximum loan amount of $35,000 is moderate
- • APR rates higher than premium lenders
Marcus by Goldman Sachs
by Goldman Sachs Bank USA
Marcus delivers straightforward personal loans with competitive rates, no fees, and a reputation for reliability backed by Goldman Sachs' institutional strength.
Key Features
Pros
- • Competitive APR rates (7.99% - 24.99%)
- • No origination fees, prepayment penalties, or late fees
- • Backed by Goldman Sachs institutional strength and reliability
Cons
- • Maximum loan amount of $40,000 is lower than competitors
- • Requires good credit score (typically 700+)
LendingClub
by LendingClub Corp
LendingClub is a peer-to-peer lending platform that has moved toward institutional funding, offering competitive rates and significant loan amounts with accessibility to fair-credit borrowers.
Key Features
Pros
- • Competitive APR rates for fair and good credit
- • Accessible to fair credit borrowers (typically 600+ credit score)
- • Peer-to-peer lending model with institutional backing
Cons
- • Funding slower than online alternatives (3-6 business days)
- • APR rates can be high for poor credit (up to 35.89%)
Full Comparison
| Feature | Payoff (Happy Money) | SoFi Personal Loans | LightStream | Achieve Personal Loans | Marcus by Goldman Sachs |
|---|---|---|---|---|---|
| APR Range | 9.99% - 29.99% | 6.99% - 24.99% | 6.24% - 24.99% | 9.99% - 35.99% | 7.99% - 24.99% |
| Loan Amounts | $5,000 - $35,000 | $5,000 - $100,000 | $5,000 - $100,000 | $2,000 - $35,000 | $3,500 - $40,000 |
| Term Lengths | 24 - 60 months | 24 - 84 months | 24 - 84 months | 24 - 72 months | 36 - 84 months |
| Origination Fee | None | None | None | None | None |
| Funding Speed | 1-2 business days | Same day | Same day | 1-3 business days | 2-3 business days |
| Our Rating | 4.5/5 | 4.8/5Best | 4.7/5 | 3.9/5 | 4.6/5 |
How We Picked These
Frequently Asked Questions
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