Best Debt Consolidation Loans of 2022


A debt consolidation loan is a path to relief for a lot of people struggling to manage credit cards and other high-interest debt.

Debt consolidation replaces your existing debts with a single loan, usually with more favorable terms, like a lower interest rate that’ll save you money, or a lower monthly payment and longer repayment period that gives you more breathing room.

These loans are a common part of savvy debt payoff strategies, because they can often help you save money, pay off debt faster or both. If you feel like you’re drowning in debt, they could extend the time it takes you to pay and take the stress off of keeping up with monthly payments.

Debt consolidation loans are available from lenders as personal loans, sometimes marketed specifically as “debt consolidation loans” and sometimes simply as personal loans.

We’ve reviewed some of the top personal loan lenders online to help you find the best debt consolidation loans available for your financial situation and goals.

Best Debt Consolidation Loans at a Glance

Company APR with Autopay Min. and Max. Loan Amounts Loan Terms

Universal Credit

8.93% – 35.93%

$1,000 – $50,000

36 to 60 months

Happy Money

5.99% – 24.99%

$5,000 – $40,000

2 – 5 years

LightStream

3.49% – 19.99%

$5,000 – $100,000

Up to 7 years

Credible Personal Loans

3.49% – 35.99%

$600 – $100,000

1 – 7 years

Upstart

5.22% – 35.99%

$1,000 – $50,000

3 or 5 years

SoFi

5.74% – 21.78%

$5,000 – $100,000

2 – 7 years

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