Best Debt Consolidation Loans for Bad Credit of February 2024

Last Update: September 25, 2023 Debt Loan Reviews Loans

Debt consolidation loans allow borrowers to roll multiple debts into a single new one with fixed monthly payments and, ideally, a lower interest rate. With a debt consolidation loan, a lender issues a single personal loan that you use to pay off other debts, such as balances on high-interest credit cards. You’ll pay fixed, monthly installments to the lender for a set time period, typically two to five years. The rates may be a bit higher and still make sense if your multiple loan cost is very high and your credit score is poor.

Best personal loans for debt consolidation loans for good credit come with APRs of between 5.99% and 10%. For bad credit, you can expect an APR of up to 35.99%.

Suppose you have bad credit. That does not mean that you have to get payday loans. They are predatory. In this article, we discuss getting personal loans for debt consolidation. However, we still recommend that you watch our video, which discusses how people with bad credit can get approved on a personal loan.

FICO Score Range

Credit Score:Lower:Upper:
Very bad300560

Best Debt Consolidation Loans for Bad Credit of February 2024

Loan Company:Min. Credit Score:APR:Amount:
PersonalLoans5805.99% – 35.99%$35,000
LendingTree5003.99% – 35.99%$50,000
Upgrade5608.49% – 35.99%$50,000
LendingClub6006.16% – 35.89%$40,000


Loan Amount:$1,000 – $35,000
APR:5.99% – 35.99%
Min. Credit Score:580
Approval:1 Day
Terms:90 days – 72 months
Origination Fee:1 – 5%
DTI Ratio:N/A
Check rates

PersonalLoans is a huge marketplace with lenders that serve many customers in different target groups.

Best for:

  • Good and excellent credit score.


  • Competitive APRs.
  • Low credit requirements.
  • Low-income requirements.
  • No prepayment penalties.
  • No hidden fees.
  • Great customer support.


  • You can’t delay your payments too much.


Loan Amount:$1,000 – $100,000