Best Places/Sites to Find Personal Loans

[Anonymous]

What would be recommended places/sites to find and possibly apply for personal loans.  Ideally I would like to combine student loans ($80k at 6%), a land loan ($46k at 10%) and/or credit cards ($15k at various interest rates) into one loan with a lower interest rate.  Thanks!

[FlaDude]

I've had good luck with the pre-qualified loan pages at Credit Karma and Nerdwallet. I've got three personal loans for debt refinancing and I found them all from those two sites. It beats checking 10-15 different sites one at a time.

Compare the APR vs. the interest rate, if they differ there is an origination fee. This is not neccessarily bad, but be aware that is deducted from the proceeds up front. If a $10k loan has a 3% orig fee, you'll only get $9700. The APR will factor that in, so if the APR is good, it might still be a better deal than a higher interest loan without the fee.

[Five6Two]

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@Anonymous wrote:

What would be recommended places/sites to find and possibly apply for personal loans.  Ideally I would like to combine student loans ($80k at 6%), a land loan ($46k at 10%) and/or credit cards ($15k at various interest rates) into one loan with a lower interest rate.  Thanks!

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I have personally found that those two web sites work well - but another good tool is Experian's webpage. You can pay the $1 for intro trial and then delete. Their offers page allows you to view CCs and Loans, you can always put in your info and get a pre-qualified offer but of course any applications with those offers will always result in a HP. Hope this helps! 

[Anonymous]

I keep hearing good things about Lending Club and SoFi, but I haven't qualified for either myself, and they cap at 40K and 100K.

[SouthJamaica]

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@Anonymous wrote:

What would be recommended places/sites to find and possibly apply for personal loans.  Ideally I would like to combine student loans ($80k at 6%), a land loan ($46k at 10%) and/or credit cards ($15k at various interest rates) into one loan with a lower interest rate.  Thanks!

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Your best bet is a credit union. You get better terms and avoid being slammed with the "consumer finance account" label.

[MP15_556]

I took out a loan with Best Egg three months ago before I was aware of the consumer finance account labels so I was in panic mode awaiting the new account to report. About a week after my first payment I received an alert from Experian regarding a new account.....I reluctantly logged in fearing the worst.
The alert was for a "non-credit loan" that had been established with my information. There was no new account listed (no new account as of today) just the alert.

[wasCB14]

Is it just me, or is this totally unrealistic?

Student loans I believe still have recourse to earnings and generally aren't discharged in BK. The land loan is secured by the land.

With the CCs, it adds up to $141k. That seems like a lot for several personal loans, let alone one.

And it's supposed to all be unsecured and at a lower interest rate?

[Chache]

Was thinking of trying a credit union for my debt consildation the one i use penfed seems to have gotten very strict

[Anonymous]

I used Credit Karma to get my personal loan last week. They had a lot of offerings, and of course you want to go for the one that gives you the lowest fees and interest rates. 

But your proposition seems a bit unrealistitc. I doubt you will get anything lower than 6%, so you don't really need a personal loan for your student loan. A personal loan to consolidate your land loan and credit card loans seems doable, depending on income and credit rating.

I suggest going to Credit Karma and checking your offers. Ideally you don't want to borrow more money to pay for... borrowed money. It's just moving debt around. The best thing to do is working hard to paying it all down!

But I digress. You could also try to get a secured loan for the market value of your paid-off car and use it as collateral. Secured loans usually have better terms than personal loans. If it's worth 20k, you could get a secured loan for that amount. But be aware, if you don't make payments it can get repossessed! If you have a house with equity in it, you can get a HELOC. Again, it can get foreclosed if you fail to make payments!