The 10 best debt consolidation loan companies for 2021 are illustrated below. These ratings, and the best debt consolidation companies on this list were selected, based on unbiased customer reviews, licensing considerations, complaints, certification requirements, and accreditations. Personal loans can be one of the best ways to consolidate credit card debt and other payments, into one affordable monthly payment. However, when selecting the wrong loan product consumers can end up deeper in debt and with more financial problems than they started with.  If you can get a low-interest debt consolidation loan and use it to pay off high-interest accounts, you’ll save money and get out of debt faster. 

Taking out a personal loan for the purpose of debt consolidation can eliminate high-interest debt and consolidate payments into one lower monthly payment, but not all loan companies are reputable. Some companies use misleading sales tactics and fail to disclose all of the fees included in their loan products, or charge outrageously high fees putting consumers deeper in debt. 

Especially if your credit score is low, lenders will often take advantage of a person by charging them high fees and interest rates. If you have bad credit, debt consolidation probably won’t be your smartest financial choice. Even the most reputable and trustworthy debt consolidation companies will charge high interest rates and fees in exchange for approving someone for a loan with bad credit.

What is the best way to consolidate debt in 2021?

Paul J Paquin, the CEO of #1 rated debt relief company, Golden Financial Services explains: “Debt consolidation loans are not the best way to consolidate debt for individuals with a credit score of 700 or less because in many cases you end up paying above 30% in interest rates and loan origination fees. Debt consolidation loans are the most expensive way to consolidate your bills if you have a low credit score, no matter what lender you use. You’re better off using the debt snowball or avalanche method on your own and not having to pay anybody a fee, where your sole focus is on eliminating debt, while simultaneously improving credit scores and saving money. And I’m not here to down-talk online lenders. I’ll be the first to tell you that Doug Shulman, CEO at OneMain Financial, does a brilliant job running OneMain and offers amazing debt consolidation and loan financing products, but only to those individuals that have a minimum FICO score of 700.” If you can’t afford to pay above minimum payments on high unsecured debts, consider debt relief programs to reduce what you have to pay. Instead, if you have a credit score of 700 or less, consider one of the Top Ten Debt Relief Companies Here.

How can a person avoid getting taken advantage of by a debt consolidation company? You can use sources like the Better Business Bureau and verified online resources including review sites that are unbiased – offering you advice and tips without an agenda. did not accept any compensation from any of the companies listed below to be on this Top Ten List. 

Without further ado, here is your list of ten potential debt consolidation loan companies, that we believe offer the best personal loans for debt consolidation. This list does not include the best banks for debt consolidation. And the truth is, credit unions are often the best place for personal loans to consolidate debt, especially for individuals with a high credit score.  So make sure to also check with a local credit union bank near you, before applying with any of the following online lenders. The main benefit of using one of the lenders on this list over a bank is that they’re more flexible in lending to individuals with a low credit score. Many consumers won’t qualify for a bank loan in 2021 due to a low credit score and a lack of sufficient income.

Top 10 Debt Consolidation Loans and Best Credit Card Debt Consolidation Companies for 2021