Best Personal Loan that does a soft pull and that you would recommend with an easy process?

[Luv2Cruise]

SO I am looking at getting another personal loan to pay off CC debt ($50k) that is BK friendly (BK 8yrs ago)  and get a better rate/payment then what I am paying now on th CC together. We have 1 loan with Lending Club and can't get a 2nd one through them due to the 1. Ive been reading the boards and looked on Nerdwallet, What are your thought on Sofi, Lightstream, or the like etc? I have a Penfed account but not sure if I would be able to get a loan or not through them.

We have NOT been late or missed a payment on anything in over 8 years, scores in high 600 - 700 's

Thanks for the input.

[reluctantgarden]

SoFi is the best in my view, having also used Prosper, LC, and Upstart. You can find out term and rate with a SP, and they HP if you accept.

[MileHigh96]

I have a personal loan through Upgrade. I believe that you get to see your term and rate with only a SP. was with Lending Club with a horrible rate and refinanced with Upgrade and got a much better rate from them. This was all less than a year out from my BK7 discharge.

[Luv2Cruise]

Thanks, We have a loan with LClub now with a decent rate, this is our 3rd, already payed off 2 loans years ago with them. Never had a bad experience with them. I just want to pay off our CC rather than thinking about another possible BK so I though another loan would save money due to the high cc rates? If the loan payment comes out to be alot less than what we are already paying on CC then it would def be better.

Do they allow you to pay the CC yourself or do they send the money to them ?

[MileHigh96]

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@Luv2Cruise wrote:

Thanks, We have a loan with LClub now with a decent rate, this is our 3rd, already payed off 2 loans years ago with them. Never had a bad experience with them. I just want to pay off our CC rather than thinking about another possible BK so I though another loan would save money due to the high cc rates? If the loan payment comes out to be alot less than what we are already paying on CC then it would def be better.

Do they allow you to pay the CC yourself or do they send the money to them ?

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I believe they send a certain percentage directly to the creditors and they can send the balance to you to do with as you see fit.  I don't remember what the percentage breakdown was though, sorry.

[Aspireto850]

How are these loans listed on your credit  report? they are classified as a personal finance account? Just curious.

[MileHigh96]

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@Aspireto850 wrote:

How are these loans listed on your credit  report? they are classified as a personal finance account? Just curious.

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I can't speak for anything except Upgrade, but on my Experian report (I just looked) it shows up under Personal Loans, no other designation shown.

[Catbird_Seat]

Have you tried Best Egg?

They offer loans up to $50K, with a preapproval tool.

I got a $18K loan with them for 11.99%, with a BK7 discharged 8/20. 

It was an easy process & my loan proceeds were in my bank account within a few days after approval. 

[nwa479]

@MileHigh96  You said you weren't sure of the percentage applied directly to cards for the SoFi loan.  Today I prequalified for a loan at 13k.  Exactly 50 percent of it was to be applied directly to credits resulting in a savings on the loan interest of 0.25%. You could save another 0.25 with autopay. 

[MileHigh96]

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@nwa479 wrote:

@MileHigh96  You said you weren't sure of the percentage applied directly to cards for the SoFi loan.  Today I prequalified for a loan at 13k.  Exactly 50 percent of it was to be applied directly to credits resulting in a savings on the loan interest of 0.25%. You could save another 0.25 with autopay. 

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No, I was talking about Upgrade, not SoFi.  I never mentioned SoFi.