Debt Consolidation Loans
Checking your rate is free and won’t impact your credit score.
Why choose Universal Credit for a debt consolidation loan?
We make the process of consolidating your debt easy -- we’ll even arrange to pay off your debts for you!
Why get a debt consolidation loan?
Save time and money by consolidating your debt into a single monthly payment
Simplify your monthly bills
Instead of many bills over the course of a month, simplify with a single payment
Plan around a fixed rate and payment
Enjoy the peace of mind of a rate and payment that will never go up
Get on a path to getting out of debt
With a set loan term, you'll have a clear payoff date you can circle on your calendar
What is a debt consolidation loan?
A debt consolidation loan is a personal loan that you use to combine multiple balances from credit cards and other high-interest loans into a single loan with one monthly payment. In addition to reducing the number of monthly payments you have, a debt consolidation loan may also reduce your interest rate and make it easier to pay off your debt faster. At Universal Credit, all debt consolidation loans have a fixed rate that never changes and a set number of substantially equal payments.
How does a debt consolidation loan work?
Debt consolidation is easy with a loan through Universal Credit:
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How much debt can I consolidate with a loan through Universal Credit?
With a debt consolidation loan through Universal Credit, you can borrow up to $50,000. Funds are sent directly to the account(s) that you choose within a day of approval.
Can I pay back my loan early?
Absolutely. If you are ready to pay off your loan early, we welcome you to do so. There are no pre-payment penalties or fees!
How quickly will my debt be paid off?
We'll send the funds to your designated account(s) within one business day of clearing any necessary verifications. Debt payoff dates are dependent on how quickly your bank or creditors process the transaction. Funds sent directly to you should be available within one business days. Funds sent directly to pay off your creditors may take up to 2 weeks to clear, depending on the creditor.