{"id":85767,"date":"2025-02-06T09:33:14","date_gmt":"2025-02-06T17:33:14","guid":{"rendered":"https:\/\/financer.com\/?page_id=85767"},"modified":"2025-03-27T04:48:01","modified_gmt":"2025-03-27T11:48:01","slug":"payday-loan-consolidation","status":"publish","type":"page","link":"https:\/\/financer.com\/calculator\/loan\/payday-loan-consolidation\/","title":{"rendered":"Payday Loan Consolidation"},"content":{"rendered":"\n

How a Payday Loan Consolidation Works<\/h2>\n\n\n\n

Payday loan consolidation is a financial strategy that helps borrowers escape the cycle of high-interest payday loans<\/a>. It involves taking out a new loan with lower interest rates and more manageable terms to pay off multiple existing payday loans.<\/p>\n\n\n\n

While payday loans often carry APRs of 400% <\/strong>or more, consolidation loans typically offer APRs between 6% and 36%<\/strong>. This reduction in interest can save borrowers money and provide a clearer path out of debt.<\/p>\n\n\n\n

Consolidation loans usually offer extended repayment periods, allowing borrowers to spread payments over months or years, rather than the typical two-week cycle of payday loans. Besides that, it’s a way easier to deal with just one payment, instead of multiples.<\/p>\n\n\n\n

Payday Loan Consolidation Companies<\/h2>\n\n\n\n

There are hundreds of companies offering consolidation loans and while we haven’t had time to compare all of them, we were able to discover 5 loan providers that offer really good terms for those who are looking at getting rid of old debt by taking out a new loan. Here they are:<\/p>\n\n\n

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\n \n Company <\/span>\n <\/th>\n \n Interest<\/span><\/th> Loan Term<\/span><\/th> Loan amount<\/span><\/th> Accepts bad credit:<\/span><\/th> \n \n <\/span>\n <\/th>\n <\/tr>\n <\/thead>\n
\n recommended<\/span>\n \n \"Upgrade\"\n <\/a><\/td>9.99% – 35.99%<\/td>2 Years – 7 Years<\/td>$1,000 – $50,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr>
\n \n \n \"Upstart\"\n <\/a><\/td>6.70% – 35.99%<\/td>3 Years – 5 Years<\/td>$1,000 – $50,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr>
\n recommended<\/span>\n \n \"PersonalLoans.com\"\n <\/a><\/td>5.99% – 35.99%<\/td>3 Months – 6 Years<\/td>$250 – $35,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr>
\n \n \n \"BadCreditLoans.com\"\n <\/a><\/td>5.99% – 35.99%<\/td>3 Months – 6 Years<\/td>$500 – $10,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr>
\n \n \n \"OppLoans\"\n <\/a><\/td>59.00% – 179.00%<\/td>6 Months – 1 Year , 6 Months<\/td>$500 – $5,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr> <\/tbody>\n <\/table>\n <\/div>\n \n \n \n \n
\n \n Company <\/span>\n <\/th>\n <\/tr>\n <\/thead>\n
\n recommended<\/span>\n \n \"Upgrade\"\n <\/a><\/td><\/tr>
\n \n \n \"Upstart\"\n <\/a><\/td><\/tr>
\n recommended<\/span>\n \n \"PersonalLoans.com\"\n <\/a><\/td><\/tr>
\n \n \n \"BadCreditLoans.com\"\n <\/a><\/td><\/tr>
\n \n \n \"OppLoans\"\n <\/a><\/td><\/tr> <\/tbody>\n <\/table>\n \n \n \n \n
Get Started<\/th>\n <\/tr>\n <\/thead>\n
\n Explore more<\/a><\/td><\/tr>
\n Explore more<\/a><\/td><\/tr>
\n Explore more<\/a><\/td><\/tr>
\n Explore more<\/a><\/td><\/tr>
\n Explore more<\/a><\/td><\/tr> <\/tbody>\n <\/table>\n \n \n \n \n
\n \n Company <\/span>\n <\/th>\n \n \n Overall Rating <\/span>\n <\/th>\n Interest<\/span><\/th> Loan Term<\/span><\/th> Loan amount<\/span><\/th> Accepts bad credit:<\/span><\/th> Get Started <\/th>\n <\/tr>\n <\/thead>\n
\n recommended<\/span>\n \n \"Upgrade\"\n <\/a><\/td>9.99% – 35.99%<\/td>2 Years – 7 Years<\/td>$1,000 – $50,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr>
\n \n \n \"Upstart\"\n <\/a><\/td>6.70% – 35.99%<\/td>3 Years – 5 Years<\/td>$1,000 – $50,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr>
\n recommended<\/span>\n \n \"PersonalLoans.com\"\n <\/a><\/td>5.99% – 35.99%<\/td>3 Months – 6 Years<\/td>$250 – $35,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr>
\n \n \n \"BadCreditLoans.com\"\n <\/a><\/td>5.99% – 35.99%<\/td>3 Months – 6 Years<\/td>$500 – $10,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr>
\n \n \n \"OppLoans\"\n <\/a><\/td>59.00% – 179.00%<\/td>6 Months – 1 Year , 6 Months<\/td>$500 – $5,000<\/td>Yes<\/td>\n Explore more<\/a><\/td><\/tr> <\/tbody>\n <\/table>\n <\/div>\n <\/div>\n\n <\/div>\n\n\n

Three of these loan consolidation companies stand out from all the rest<\/p>\n\n\n\n

Upgrade<\/h3>\n\n\n