Debt Consolidation Loans
Combine your debts into one manageable payment
Get Your Loan Directly
In your bank account
Stop juggling multiple bills and due dates. A debt consolidation loan rolls your existing debts into a single monthly payment—often at a lower rate—so you can regain control of your finances.
It is free to check – It won't impact your credit score
Get Your Loan Directly
In your bank account
What debts can you consolidate?
HOW CONSOLIDATION WORKS
Straightforward steps. Meaningful results.
Share your goals
Tell us about your current financial situation and what you're hoping to achieve with consolidation.
Explore your matches
We'll connect you with consolidation options selected to fit your unique circumstances and budget.
Consolidate and simplify
Once approved, your new loan covers your existing debts—leaving you with just one predictable payment each month.
WHY LENDING BUDDIES?
A clearer path to financial freedom—with trusted partners and honest terms
One payment instead of many
Replace the chaos of multiple due dates and varying interest rates with a single, predictable monthly payment—potentially at a better rate.
Safe, simple, and fully digital
Answer a few questions online, see offers matched to your profile, and move forward—all with bank-level encryption protecting your data.
Built for fresh starts
Lending Buddies is here to help people regain control of their debt, one step at a time. Transparent, supportive, and straightforward.
See how consolidation can save you money
| Loan Amount | $1,000 | $2,000 | $5,000 | $10,000 |
|---|---|---|---|---|
| Interest Rate (APR) | 24% | 19% | 13% | 8% |
| Loan Term | 12 Months | 24 Months | 48 Months | 60 Months |
| Other Fees/Costs (%) | 5% | 5% | 5% | 5% |
| Other Fees/Costs ($) | $50 | $100 | $250 | $500 |
| Monthly Payments | $99.29 | $105.86 | $140.84 | $212.90 |
| Number of Payments | 12 | 24 | 48 | 60 |
| Total Payments | $1,191.48 | $2,540.64 | $6,760.32 | $12,774.00 |
APR Ranges From 5.99% up to 35.99% For Qualified Customers · 91 Day Minimum up to 72 Month Maximum Repayment Period. Rates shown are for illustration only; your actual offer depends on the lender and your profile.
Debt consolidation questions answered
Get the information you need to decide. Have more questions? Reach out to us.
Will checking my rate affect my credit?
Which types of debt can I consolidate?
Can I qualify with a less-than-perfect score?
How quickly can I get funded?
How Debt Consolidation Actually Works
Debt consolidation means taking out a new loan—usually at a lower interest rate—to pay off several existing debts simultaneously. Instead of managing multiple creditors, multiple due dates, and multiple minimum payments, you make a single monthly payment to one lender. This simplification isn't just psychological: it can reduce your total monthly obligation and lower the total interest you pay over time.
The math is straightforward. If you have three credit cards charging 22%, 26%, and 29% APR respectively, and you consolidate them into a personal loan at 16% APR, you immediately reduce the interest accumulating on your balance. That difference compounds over the life of the loan into meaningful savings.
Is Debt Consolidation Right for Your Situation?
Consolidation works best in specific circumstances. Use this checklist to evaluate whether it fits your financial picture:
Good candidate ✓
- ✓ Multiple high-interest debts (credit cards, payday loans)
- ✓ Stable monthly income to support new payment
- ✓ Debt from 2+ different creditors
- ✓ APR on new loan lower than current average rate
- ✓ Committed to not accumulating new debt
Consider alternatives ✗
- ○ Only one debt to repay
- ○ New loan rate equals or exceeds current rate
- ○ Income is unstable or irregular
- ○ Debt is secured (mortgage, auto)
- ○ Past pattern of running up balances after payoff
The Hidden Benefit: Credit Score Improvement
Successfully consolidating debt can improve your credit score in two ways. First, paying off revolving credit card balances with an installment loan lowers your credit utilization ratio—one of the most impactful factors in your score calculation. Second, consistently making on-time payments on your new consolidation loan builds a positive payment history over time.
Many borrowers see meaningful score improvements within 3–6 months of consolidating, provided they don't immediately reload their credit cards with new spending.
How Much Could You Save by Consolidating?
Example: $8,000 in credit card debt spread across three cards at an average APR of 24%.
| Scenario | Monthly Payment | Total Paid | Total Interest |
|---|---|---|---|
| 3 credit cards @ 24% APR (min payments) | $240 | $19,200+ | $11,200+ |
| Consolidated loan @ 16% APR / 36 months | $281 | $10,116 | $2,116 |
| Consolidated loan @ 12% APR / 48 months | $211 | $10,128 | $2,128 |
Illustrative example only. Actual rates and savings depend on your credit profile and lender terms.
Your path to simpler finances starts here
Complete a short request and discover consolidation options tailored to your needs.