Get a Debt Consolidation Loan
Consolidate your high interest loans and save
While it's true that you can't borrow your way out of debt, consolidating all of your high interest loans into one Prosper debt consolidation loan with a great rate could save on the amount of interest you're charged on your debts each month.
Plus, Prosper debt consolidation loans have a fixed interest rate, and your loan principal goes down as you make your loan payments—so you can stop your high interest credit card debt from spiraling out of control. Prosper's online electronic payment system lets you manage your entire consolidation loan directly and with ease.
Get off the credit card treadmill
If you’re making the minimum monthly payments on credit card debt, chances are you’re mostly paying the interest, and not paying down the actual principal by much. This won’t make much of a dent in your debt. And if you miss payments or exceed your limit, your credit card interest rates can go up. Replace your credit card debt with a Prosper consolidation loan, where your interest rate won't change and your loan principal gets paid down as you make fixed monthly payments.
Avoid bad credit — take advantage of debt consolidation today
At Prosper, we understand the importance of maintaining the best credit score possible. In fact, some of our lenders were also borrowers at one point and chose to consolidate their personal loans into one low interest monthly payment. We can help you, too. And since Prosper offers only unsecured loans, you need not own your home for debt consolidation. Apply today and see how much you can save.
Does my credit score affect my loan?
Yes. Most lenders will look at your credit history, and Prosper lenders are no exception. If you are sure you have bad credit, you may want to consider improving it before you apply. If you are not sure of your credit score, we can help you find out now, for free, with no obligation.
The Prosper community does not require "perfect credit." If you have an average to an above average credit rating, one way to expedite your loan funding is to ask another Prosper member (especially a lender) to endorse you. Don’t know any other Prosper members personally? Invite a friend to join.
APR starting at
* Based on one year personal loans made to first time borrowers with an AA Prosper Rating. To qualify for an AA Prosper Rating, applicants must have excellent credit and meet other conditions. APRs by Prosper Rating range from 5.99% (AA) to 36.00% (HR) for first time borrowers. The average APR for borrowers during the period May 1, 2014 through October 31, 2014 was 17.87%. Rate offered is based on Prosper Rating and other factors, and your actual rate may differ. Eligibility for a loan is not guaranteed and requires that a sufficient number of investors commit to fund your loan. Refer to Borrower Registration Agreement for all terms and conditions. All loans made by WebBank, an FDIC-insured, Utah-chartered Industrial Bank.