What is Debt Consolidation?
A debt consolidation loan can help you combine and pay off your credit card balances with one loan with low-interest, fixed monthly payments
MANAGE ONE PAYMENT
No more juggling payments. One fixed monthly payment through Prosper and you’re up to date.
STAY ON TRACK
Know exactly when your debt will be paid with a fixed end date.
SAVE MONEY
Save money with no pre-payment penalties.
How a Debt Consolidation Loan Works
A debt consolidation loan through Prosper can help you pay off your existing loans faster by reducing the number of interest charges you accrue each month.
Keeping track of your credit cards can be stressful, especially with multiple due dates each month. Ever missed a payment because your monthly bill was hidden in a stack of statements? You can solve that problem with a debt consolidation loan through Prosper.
"Prosper was a lifesaver. It helped me consolidate my credit cards and cut my interest expenses way down so I could finally start repairing my finances."
Getting a Debt Consolidation Loan is Easy
1
Check Your Rate
Select your debt consolidation loan amount, answer a few questions and get your lowest eligible rate instantly.
2
Choose Your Loan
Choose the offer with the terms that work best for you.
3
Get Your Funds
Your money goes straight to your bank account via direct deposit.
Put a stop to the pattern of snowballing interest by paying off your existing debt with a debt consolidation loan through Prosper.
Manage one simple fixed monthly payment with the potential to save you money.
Compare a Debt Consolidation Loan to a Credit Card
Here's why a Debt Consolidation Loan through Prosper may be better for you
CREDIT CARD
- No fixed interest rate – can rise at anytime
- Minimum payments won't pay down your principal
- Longer payoff
DEBt consolidation loan
- A fixed interest rate
- A clear payment plan
- A set payoff date
A Debt Consolidation Loan Could Save You Money
It can be frustrating to drain your bank account each month and still get slammed with growing interest. If you’re consistently making only the minimum payment on your credit card bills, your debt may continue to rise.
Missed payments only make the situation worse, as you can rack up fees. Plus, your credit card interest rate could change at any time.
With a debt consolidation loan through Prosper, you’ll have a single monthly payment and a fixed low interest rate with no prepayment penalty fees.