Rick Bormin, Personal Loans Moderator
@rhandoo2020
You can get a debt consolidation loan in Kentucky from Upgrade, Marcus by Goldman Sachs and Best Egg, among other banks, credit unions and online lenders. The most important thing to consider when applying for a debt consolidation loan in Kentucky is the loan’s APR. It should be lower than the rates on your existing debts in order for you to save money. Other important factors are the loan’s origination fee, funding amount, and payoff period.
Best Places to Get a Debt Consolidation Loan in Kentucky
| Lender | APR Range | Origination Fee | Loan Amounts |
| 8.49% - 35.99% | 1.85% - 9.99% | $1,000 - $50,000 | |
| 6.99% - 24.99% | 0% | $3,500 - $40,000 | |
| 8.99% - 35.99% | 0.99% - 8.99% | $2,000 - $50,000 | |
| 7.99% - 35.99% | 0% - 8% (varies by state) | $2,000 - $36,500 | |
| Abound Credit Union | 6.74% - 18.00% | 0% | $250 - $25,000 |
When you get a debt consolidation loan, you use the loan to pay off multiple existing debts, combining them into one balance with a single monthly payment. Getting a debt consolidation loan in Kentucky is a bit different from getting one in other states because some of the best options are regional lenders that don’t offer loans nationwide.
Once you get a debt consolidation loan in Kentucky, you should make sure to manage it responsibly so that you can become debt free as soon as possible and improve your credit score.
2023 Best Personal Loans in Kentucky
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How can I get a debt consolidation loan?
To get a debt consolidation loan, you must be at least 18 years old and have a steady income as well as a credit score of at least 660. Not all debt consolidation loans will require a 660+ credit score, but it’s unlikely you’ll get rates that are worthwhile for consolidation with a lower score. People who meet the general requirements for a debt consolidation loan will find the process of getting approved to be...
read full answerWhat are the best debt consolidation loan rates?
Debt consolidation loan rates usually range from 6% to 36%, depending on the lender. The best debt consolidation loan rate is 5.95%, from LightStream (a division of SunTrust Bank), with its personal loan offer. Only the most qualified applicants will receive a rate that low, but even LightStream’s maximum APR is relatively low, at 17.29%.
Most lenders don’t offer loans specifically for debt consolidation. Rather, they offer general personal loans that can be used...
read full answerIs debt consolidation a good idea?
Debt consolidation is a good idea for borrowers with high-interest debts owed to multiple lenders. Whether or not debt consolidation is wise depends largely on if you can get a new loan or credit card that will save you money compared to the current cost of your debts. The simplicity of a single payment can be helpful, too.
How Much You Can Save With Debt Consolidation
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