Best Debt Consolidation Loans in New York of February 2024

Ray Prince
Last Update: September 25, 2023 Personal Loans by States and Cities

With the post-pandemic recovery, high inflation rates, and other economic factors, the best debt consolidation loans in New York have been a lifeline for many New Yorkers looking to get out of debt. A single debt consolidation loan can pay off multiple high-interest debts with one lower-interest rate monthly payment. Other benefits include reducing the chances of late payments, expediting payoff, lower monthly payments, and improved credit scores if managed correctly.

Today, debt consolidation loan APRs in NY usually start at 5.99% and top out at 35.99%. Our preferred NY lenders offer low APRs, generous loan amounts, and compatibility with different debt types (e.g., credit cards, student loans, and IRS debt). NY borrowers with 640+ credit scores should easily qualify for sub-8 % APRs.

After researching more than 50 NY-based debt consolidation lenders ( ~20 small/medium/large banks, ~20 credit unions, and ~12 online lending platforms), we came up with our top recommended picks. All lenders were chosen based on low APRs, terms, debt type eligibility, and required credit scores. Read our top picks below:

Best Debt Consolidation Loans in New York of February 2024

Lender:Loan Amount:APR:Min. Credit Score:Best For:
NextDayPersonalLoan$100 – $40,0005.99% – 35.99%0Bad credit
LifeLoans$100 – $40,000Not Listed0Bad credit
Upstart$1,000 – $50,0004.6% – 35.99%300Low credit scores, high DTI ratios
SoFi$5,000 – $100,0005.74% – 20.28%680No-fee unsecured loans
Upgrade$1,000 – $35,0008.49% – 35.99%560No prepayment fees on an unsecured loan
Connexus Credit UnionUp to $50,0008.24% – 18.49%UndisclosedConnexus Credit Union customers
XCEL Federal Credit Union$500 – $40,00010.99% – 17.99%UndisclosedXCEL Federal Credit Union customers
Alliant Credit Union$1,000 – $50,0006.24% – 27.24%640People who prefer online-only banks
US Bank$1,000 – $50,0008.24% – 20.74%UndisclosedUS Bank customers

Our Marketplace

Compare different lenders in our marketplace. Our marketplace is the largest place online to find and compare all lenders in one place. All of our lenders offer competitive rates and terms, making it easy for borrowers to find the best loan for their needs.

In addition, our marketplace includes lenders that specialize in personal loans for specific purposes such as debt consolidation, home improvement, and personal expenses.

Why Trust ElitePersonalFinance Guides?

ElitePersonalFinance guides are researched and written by expert staff with more than ten years in the industry. Every lender is heavily scrutinized with a fine-tooth-comb applied to APRs, terms, and fees to ensure only the most reputable ones make our list. In an industry where 100%+ APRs are all-too-common, presenting consumer-friendly debt consolidation loans New York recommendations is our goal.

If you are still waiting to see a lender listed that you highly recommend, the team at ElitePersonalFinance would love to learn about it. Give one of our ElitePersonalFinance experts a note at

Thank you for trusting ElitePersonalFinance as your go-to guide for finding the best debt consolidation loans in New York of February 2024.

Best Debt Consolidation Loans in New York of February 2024: Key Findings

Borrowers with bad credit can still get a debt consolidation loan by applying with a co-signer or putting up collateral for a secured loan. Despite, this bad credit borrowers can still get an unsecured loan.

Debt consolidation loans convert many high APR debts, such as credit cards, into one lower APR loan and may increase your credit score.

New Yorkers have an average of $6.973 in credit card debt and an average 38.6% credit card utilization rate.  (Lending Tree)

NY’ers can take out debt consolidation loans up to $100,000 with APRs as low as 3.09%

NY debt consolidation loan borrowers can enjoy repayment terms from 24 to 120 months.