Best companies for consolidating debt

In fact, as an experiment, try doing what I did and simply enter the phrase “debt consolidation companies” into a search engine.Good luck finding search results that don’t include debt settlement or management companies! Because debt settlement and debt management can be extremely risky and could have debilitating effects on your finances.But if debt consolidation is what you want, then make sure you know what it is before you go!These sound very different on paper, but once you start searching for a company that offers any of these services, you could find that they instantly become jumbled together.Below we've ranked the leading student loan refinancing and consolidation companies. There are many different benefits and drawbacks of what each student loan consolidation and refinancing lender offers, and it is important to be aware of all of them.It is free to apply and the process usually takes about 15 minutes. You will find all of the necessary information below.​Before you start an application, you should know that most lenders require a minimum FICO credit score of 660, 40% maximum monthly debt-to-income, and ,000 in yearly gross income.Debt Consolidation offers a one stop solution to Alabama consumers burdened with unmanageable debts, poor credit scores, and repeated creditor harassment.

When you apply, most banks and lenders will look at your credit score, annual income, savings, and college degree type (or certificate of enrollment if still in school).

Once you pay off your existing obligations, you will be left with only one debt towards the consolidation loan that you have borrowed.

Low interest on the loan will lower your monthly payment towards the loan and also help you save money every month.

Finding the right bank to refinance or consolidate your student loans is confusing.

Fortunately, we’ve highlighted the six best banks and lenders to help you refinance and consolidate both private and federal student loans, based on your financial situation.