Best Debt Consolidation Loans in New York of July 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 July 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

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