Does Oportun do debt consolidation loans? This question is about Oportun

Yes, Oportun does offer debt consolidation loans. You can take out a personal loan from Oportun and use it to pay off existing debts, thus consolidating those debts into a single new balance with one monthly payment that you must make to Oportun. Oportun does not specifically refer to their loans as "debt consolidation loans," so you'll need to take out a general-purpose personal loan. Quick Facts About Oportun Debt Consolidation Loans APR: 10.07% - 35.95% Origination fee: Depends on the customer Loan amount: $300 - $10,000 Payoff period: 6 - 46 months Credit score required: Not disclosed Keep in mind that a debt consolidation loan from Oportun will be worthwhile if it saves you money compared to the interest rates you are paying on your existing debts. In addition to the loan's APR, you should also consider any potential fees, as well as the available loan amounts and payoff periods. Before you apply for an Oportun debt consolidation loan, it's a good idea to compare it to WalletHub's editors' picks for the best debt consolidation loans. That way, you'll be able to see how the offer stacks up against loans from leading competitors.

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Does Oportun do debt consolidation loans?

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This question is about Oportun

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Adam McCann, Financial Writer

@adam_mcan • 10/09/21 This answer was first published on 10/09/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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Yes, Oportun does offer debt consolidation loans. You can take out a personal loan from Oportun and use it to pay off existing debts, thus consolidating those debts into a single new balance with one monthly payment that you must make to Oportun. Oportun does not specifically refer to their loans as "debt consolidation loans," so you'll need to take out a general-purpose personal loan.

Quick Facts About Oportun Debt Consolidation Loans

APR: 10.07% - 35.95%
Origination fee: Depends on the customer
Loan amount: $300 - $10,000
Payoff period: 6 - 46 months
Credit score required: Not disclosed

Keep in mind that a debt consolidation loan from Oportun will be worthwhile if it saves you money compared to the interest rates you are paying on your existing debts. In addition to the loan's APR, you should also consider any potential fees, as well as the available loan amounts and payoff periods.

Before you apply for an Oportun debt consolidation loan, it's a good idea to compare it to WalletHub's editors' picks for the best debt consolidation loans. That way, you'll be able to see how the offer stacks up against loans from leading competitors.

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How long does it take to get money from an Oportun personal loan?

It takes 1 to 2 business days to get money from an Oportun personal loan, in most cases. That includes both the time it takes to get approved and the time it takes for the funds to be delivered after approval. Keep in mind that this is a typical applicant's experience, and in some cases it could take longer.

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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...

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What 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...

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