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First Tech also offers direct payment to creditors.Online lenders provide fast funding, since you can often complete the entire loan process online and get funded within a few days to a week.Credit unions don’t allow you to pre-qualify for a loan; applying typically requires a hard credit check, which can temporarily hurt your credit score and make it harder to shop around.You also need to become a member of the credit union to apply for a loan.Improve your debt-to-income ratio: If you don’t need to consolidate debts right away, consider ways to increase your income and pay off small debts.This improves your debt-to-income ratio, which lenders use to evaluate your ability to repay a loan.
Upstart and Upgrade require a higher minimum credit score, but offer lower starting APRs than One Main and Avant.
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Stop using credit cards: Avoid running up new debt on the credit cards you’ve paid off, but don’t close the credit cards, which will avoid hurting your credit score.
Keep in touch with the lender: If you fall behind on payments, it’s best to contact the lender as soon as possible to see if it will work with you.
Use our debt consolidation calculator to determine if a loan makes sense for you.