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Debt Consolidation Loans

Debt consolidation loans are a type of personal loan that can be used to pay off multiple outstanding debts, such as credit card balances or other types of loans. By consolidating your debts into a single loan, you can potentially reduce your monthly payments, save on interest, and simplify your financial situation by only having to make one monthly payment. Continue Reading Below

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  • Encyclopedia
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Industry Studies

2026 Personal Loans Industry Study Thumbnail

2026 Personal Loans Industry Study

Andrew Latham

Encyclopedia Articles

Discover the definition of financial terms related to debt consolidation loans.

Debt Consolidation: How It Works, Best Options & When to Use It Thumbnail

Debt Consolidation: How It Works, Best Options & When to Use It

Andrew Latham

What Is Collateral? How It Works in Loans and Why It Matters Thumbnail

What Is Collateral? How It Works in Loans and Why It Matters

Andrew Latham

What Is a Personal Loan? Definition, Rates, and How It Works Thumbnail

What Is a Personal Loan? Definition, Rates, and How It Works

Andrew Latham

What Is Refinancing? How It Works, Types & When It Makes Sense Thumbnail

What Is Refinancing? How It Works, Types & When It Makes Sense

Andrew Latham

What Is a Payday Loan? How It Works, True Cost, and Safer Alternatives Thumbnail

What Is a Payday Loan? How It Works, True Cost, and Safer Alternatives

Andrew Latham

Closed-End Credit: Definition, Uses, and Real-Life Scenarios Thumbnail

Closed-End Credit: Definition, Uses, and Real-Life Scenarios

Silas Bamigbola

What is a Home Equity Loan and How Does it Work? Thumbnail

What is a Home Equity Loan and How Does it Work?

Lacey Stark

Learn About Debt Consolidation Loans

Thumbnail for Blog Article: How to Consolidate Credit Card Debt the Right Way (Avoid These 4 Costly Mistakes)

How to Consolidate Credit Card Debt the Right Way (Avoid These 4 Costly Mistakes)

Andrew Latham

Thumbnail for Blog Article: SoFi® vs Upstart: Rates, Fees, Features & Why It Matters

SoFi® vs Upstart: Rates, Fees, Features & Why It Matters

Andrew Latham

Thumbnail for Blog Article: Personal Loans for Low Income Earners

Personal Loans for Low Income Earners

Benjamin Locke

Thumbnail for Blog Article: How to Get a Debt Consolidation Loan

How to Get a Debt Consolidation Loan

SuperMoney Team

Thumbnail for Blog Article: Can You Consolidate Debt if It Is in Collections?

Can You Consolidate Debt if It Is in Collections?

Heather Skyler

Thumbnail for Blog Article: How Auto Loan Refinancing Works

How Auto Loan Refinancing Works

Julie Pimentel

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About Debt Consolidation Loans

Debt consolidation loans are a type of personal loan that can be used to pay off multiple outstanding debts, such as credit card balances or other types of loans. By consolidating your debts into a single loan, you can potentially reduce your monthly payments, save on interest, and simplify your financial situation by only having to make one monthly payment. Debt consolidation loans are typically offered by banks, credit unions, and online lenders, and they may have fixed or variable interest rates. Before taking out a debt consolidation loan, it's important to carefully consider your financial situation and make sure that the loan is the right choice for you.