Debt Consolidation Loan

*AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Excellent credit required for lowest rate. Rates range from 7.49% – 24.14% APR w/ AutoPay.

Take a big step towards controlling your financial future.

Ready for less interest and more savings?

When you get a LightStream debt consolidation loan, it’s a streamlined online loan process that gives you the choice of your funding date and repayment terms. It’s an easy way to start paying less interest each month—so you can start saving fast! In fact, we can approve and get funds into your account as soon as the day you apply. ¹

You can expect a fantastic rate.

Our rates are extremely competitive. Plus, there are no appraisals, pre-payment penalties, home-equity requirements or fees. You can be confident you’re not over-paying on interest, because we back our low rates with our Rate Beat Program. ²

Control your financial destiny.

Control means knowing exactly what your single monthly payment will be, and when it’s going to end. That’s the power of a low-interest, fixed-rate LightStream loan from $5,000 to $100,000. Unlike credit card payments, for example, your LightStream loan payment is never going up, so you can budget more precisely, with no surprises.

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Smooth and quick
I applied with Lightstream for a boat loan from my phone and was approved and had the funds in my account the next day. I now own a beautiful boat that I am really enjoying. Thanks Lightstream!
Bay Area, CA

It is all about Customer Service
I have now used LightStream for the financing on two items. I can't believe how quick and easy the application process, closing, funding and completion of all the documents were.
Navasota, TX

Nice to be rewarded!
It's nice to have a loan company that will reward and trust you for having good credit. The loan process was easy and safe, with great rates and no early payoff penalties. Will use them again on my next project.
Lee's Summit, MO

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Debt and credit card consolidation FAQs

What is debt consolidation?

Sooner or later, most of us are going to find ourselves with more debt than we really want. It could be the gradual accrual of interest on revolving debt creeping up on us. Or it might be an event involving health, divorce, illness of a pet, or caring for an elderly parent that can easily tip us from financially confident into a situation where our level of debt starts causing real anxiety. You can save money each month, if you have good credit, by consolidating multiple debt payments into a single payment at a lower interest rate.

What are the benefits of a debt consolidation loan?

For many, a debt consolidation loan is a way to take back control. You can free yourself from revolving debt and the need to keep track of multiple balances and payment-due dates, and find relief from the stress and anxiety of paying too much interest on your debt. A debt consolidation loan allows you to:

Combine multiple debt payments into a single monthly payment.
Pay a lower rate, and save money.
Get a fixed rate, so your payment amount cannot go up.
Know exactly when your debt will be paid off.

Is debt consolidation right for me?

When you're paying too much interest on a credit card balance or personal loan, you could save thousands by lowering your interest rate. But debt consolidation is not for everyone. It’s a good idea when:

You have a good credit score.
Your cash flow can cover your debt payment.
You have a plan to pay off your debts, and change the habits that got you into debt in the first place.

How can debt consolidation help me?

Consolidating your debt can help you:

Save money with a lower interest rate.
Simplify your budgeting with a single fixed payment.
Even pay your debt off sooner.

When you have good credit, consolidating your existing debt can be a step toward greater control of your finances.

What can or can't I consolidate?

With LightStream, you can consolidate credit card debt, or other outstanding debt you may have, including auto loans and personal loans, emergency medical and pet care costs, home repairs and vacations. You cannot use a LightStream loan to pay off a student loan or an existing LightStream loan.

How is debt consolidation different than loan refinancing?

Debt consolidation is the process of combining several debt payments into one new, single loan, and it typically results in a lower interest rate and a faster payoff of your debt. Loan refinancing is getting a new loan for a single existing debt, usually to obtain a lower interest rate and / or different payment terms.

Can a debt consolidation loan help me pay my debt off quicker?

When you consolidate your debt with LightStream, you choose your
funding date, which could be as soon as the day you apply, ¹ so you
can pay off your debt immediately. You also choose your repayment
terms — from 24 to 84 months ^* — so you control the pace at which
you repay your LightStream loan.

What is credit card consolidation?

Credit card consolidation involves combining multiple credit card debt payments into one payment, usually with a lower interest rate.

What is a credit card consolidation loan?

A credit card consolidation loan is a loan that allows you to pay off all of your credit card debt with just one easy payment per month.

What about 0% introductory balance transfer offers?

While a 0% teaser rate like those offered by credit card companies is attractive in the short term, you should look carefully at what the interest rate will rise to after the introductory period. A credit card consolidation loan offers a fixed rate, so you can budget accordingly, knowing that your rate will never increase. You’ll also know exactly when you’ll be done making payments.

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^*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. At least 27% of approved applicants applying for the lowest rate qualified for the lowest rate available based on data from 10/01/2024 to 12/31/2024. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.

Payment example: Monthly payments for a $ loan at % APR with a term of NaN years would result in monthly payments of $.

Maximum APR for a LightStream loan is %. Loan terms range from 24 - 240 months depending on the loan type.

¹You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information; and (3) complete the final verification process.

²LightStream will offer a rate .10 percentage points lower than the rate offered on any competing lender’s unsecured loan provided that you were approved for that lower rate (with the same loan terms offered by LightStream) no later than 2 p.m. Eastern time two business days prior to loan funding. The Rate Beat Program excludes secured or collateralized loan offers from any lender, and the competitive offer must be available to any customer with a similar credit profile. Terms are subject to change at any time. If you believe you have been approved by another lender for a lower qualifying rate, log in to your account and click on “Submit Rate Beat Request” to review your Rate Beat eligibility and upload the required documentation.