Debt consolidation is a way of managing debt that combines different debts into one balance. This simplifies your payment schedule and can save you money with lower rates of interest.

A debt consolidation loan is a personal loan for consolidating your debts. They usually have terms lasting between 24-72 months and interest rates between 10% and 32%. If you are carrying debts on multpile high interest accounts, for example credit cards, then getting a lower interest loan is a good way to reduce the interest you pay.

Debt settlement negotiates with creditors to get you a lower balance. A consolidation loan transfers your accounts to a single balance by paying off your creditors.

With a debt consolidation loan, you borrow money to pay off unsecured debts. With debt consolidation companies, you make payments to an agency which manages your balances.

No. We offer debt consolidation loans through a network of preferred providers and specialize in debt settlement programs, the more aggressive way to eliminate your debt.

Often the main drier for a debt consolidation loan is if you are paying high interest rates or if you’re around $10k or more in debt.

Anyone with good credit should, in theory, qualify for a debt consolidation loan. You’ll also need enough monthly income to assure lenders you’ll make your payments.

Most types of unsecured debt.

In most cases, yes.

Typically debt consolidation loan interest rates vary between 10% and 32%. It is harder to find a loan provider if you’re FICO credit score is bad and you have a poor record of making on-time payments.  

This depends on your ability to make monthly payments. You can use our debt consolidation loan calculator to give yourself an estimate of interest costs.

Your credit profile determines how much you may be able to borrow for a debt consolidation loan.

Debt consolidation loans are designed to consolidate your unsecured debts. If there’s remaining money, it’s yours to use as you wish.

Over time, you can improve your FICO credit score by making on-time, regular payments paying off a loan. However, it also depends on the specifics of your situation and how well you manage all of your credit accounts.

Many loans have various fees and these fees vary according to your credit score and other related factors. Arrangement fees, late payment fees, interest fees are all types of fees applied to loans.

All unsecured loans are subject to collection per the lender’s service agreement. If your circumstances change, for example you experience a financial hardship, debtko offers customers help with debt relief programs.

Many loans have various fees and these fees vary according to your credit score and other related factors. Arrangement fees, late payment fees, interest fees are all types of fees applied to loans.

We aim to get you approved within 24-72 hours. This does depend on your personal and financial circumstances.