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A debt consolidation loan can provide a lower interest rate than most credit cards. According to Bankrate data , the average personal loan currently has an interest rate of around 12 percent.
LightStream is a division of Truist Bank and offers a host of benefits for debt consolidation loans, including $0 fees, same-day funding, loan terms up to 84 months and loan limits up to $100,000.
A personal loan can fund expenses such as debt consolidation or medical costs. Personal loans tend to carry lower interest rates than credit cards, which can make them more affordable for borrowers.
Some lenders market personal loans specifically for debt consolidation. Debt consolidation loans generally have terms between one and seven years, and many will let you consolidate up to $50,000.
Loan amounts can range from under $5,000 to more than $30,000, depending on the lender, though the average consolidation loan tends to be around $10,000.
It’s common for predatory products like payday loans to be advertised as bad credit loans. The primary difference between a legitimate and a predatory product is the interest rate, which may be ...
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