Best Debt Consolidation Loans in Kansas City, KS of 2024

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Edited bySarah Mattie
Edited bySarah Mattie

Updated: December 28, 2023

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WHAT WE’RE GEEKING OUT ON

Best Debt Consolidation Loan Lenders in Kansas City, KS

We reviewed several debt consolidation lenders in Kansas City, Kansas, to help you find a loan for you. Our analysis included over 30 data points like loan amounts, terms, APRs and fees.

MoneyGeek found LightStream offers the best rates and terms and conditions in KCK.

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Best Overall Debt Consolidation Loan in Kansas City, KS: LightStream


  • LightStream
    • 7.49% to 25.49%APR Range
    • UndisclosedMinimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 144 monthsRepayment Terms
    • Same day funding possibleTime to Receive Funds

    If you're a KCK resident and need to consolidate your debt but have no time to go out, LightStream may be for you. You can apply for a loan in the comfort of your home using its website or mobile app.

    LightStream offers one of the highest debt consolidation loan amounts in Kansas City at $100,000. Besides having zero fees for late payments and loan origination, it also walks the talk by offering $100 to dissatisfied customers.

    First-time borrowers or those with a credit score of lower than 660 are ineligible to apply. But don’t worry; MoneyGeek has found other debt consolidation lenders for all kinds of borrowers.

    Pros

    • Same-day funding
    • Rate Beat Program and Loan Experience Guarantee
    • Has a mobile app
    • Extended repayment terms
    • Discounted rates for autopay

    Cons

    • Requires an established credit history
    • No prequalification option on the website
    • High maximum APR
    LightStream

Runner-Up for Best Debt Consolidation Loan in Kansas City, KS: SoFi


  • SoFi
    • 8.99% to 29.99%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • 2 DaysTime to Receive Funds

    SoFi can be an excellent option for KCK borrowers with good credit scores. Created in 2011, SoFi has funded over $50 billion in loans and has over four million members.

    Like LightStream, SoFi offers a maximum loan amount of $100,000 with zero fees. Borrowers can also get a discount if they opt to use autopay.

    SoFi offers a mobile app that rewards users for tracking and managing finances. You can use these rewards points to invest in stocks or crypto.

    Although SoFi and LightStream may seem nearly identical, SoFi has stricter requirements. You must have a minimum credit score of 680 and a maximum debt-to-income ratio limit of 43% to apply.

    Pros

    • Maximum loan amount of $100,000
    • Zero-fee loans
    • Has a mobile app
    • Discounted rates for autopay
    • Offers direct pay to lenders

    Cons

    • Co-signers not allowed
    • Requires an established credit history
    SoFi

Best Debt Consolidation Loan for Bad Credit in Kansas City, KS: Upstart


  • Upstart
    • 6.4% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 3 or 5 yearsRepayment Terms
    • 1 business dayTime to Receive Funds

    Does your bad credit hold you back from a good loan? Check out Upstart, an AI lending service striving to make funds more accessible for everyone in KCK, regardless of credit history.

    In fact, you can have a credit score of 300 — the lowest possible score with a credit history — and possibly get a loan.

    Upstart offers loan amounts from $1,000 to $50,000. The small minimum amount may help prevent applicants from borrowing more than necessary.

    But if you prefer to manage finances on your smartphone, Upstart might not be the perfect fit. It doesn't have an app, meaning you have to do everything on its website.

    Pros

    • Accepts first-time borrowers
    • Low minimum credit score of 300
    • Custom payment date
    • No prepayment penalty
    • Receive funds the next day

    Cons

    • Potentially high APR
    • May charge origination fee
    • No mobile app
    Upstart

Best Debt Consolidation Loan for Good Credit in Kansas City, KS: Upgrade


  • Upgrade
    • 8.49% to 35.99%APR Range
    • UndisclosedMinimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Within a dayTime to Receive Funds

    Upgrade is a San Francisco-based company that has served millions of people nationwide. It has made over $18 billion from its affordable credit programs.

    Borrowers who value convenience may love Upgrade. Besides having an app, it offers direct payment to creditors.

    Upgrade may release funds immediately after approval. It also charges no prepayment fees, so you can pay off your loan early without penalty.

    These all seem promising, but, of course, there are downsides to Upgrade. It charges origination fees that may range from 3% to 8%. Late payments also come with a price of $10.

    Pros

    • No prepayment fees
    • Fair minimum credit score of 560
    • Flexible loan amounts and repayment terms
    • Offers direct pay to lenders
    • Allows joint applications

    Cons

    • Comparatively low loan maximum of $50,000
    • Potentially high origination fees and APR
    Upgrade

How to Choose the Best Debt Consolidation Loan in Kansas City, KS, for You

The average Kansas City resident has $23,401 in credit card debt and personal loans and an average personal interest rate of 9.92%. If you are struggling with debt, you can consolidate your loans to help pay them off and get a reduced interest rate.

If you’re considering getting a debt consolidation loan in KCK, here's how to help ensure a smooth process.

1

Ask Yourself the Important Questions

When looking for a debt consolidation loan, consider your situation from every angle. The following questions can help you do that:

  • How much funding do you need? Know how much you need to borrow before taking out a loan. That way, you minimize the likelihood of financial strain later.
  • What’s your credit score? Lenders use your credit score and history to assess if you'll be a responsible borrower.
  • Can you afford the monthly payments? Make sure you can make your payments on time and keep up with your debt consolidation plan.
  • Do you have existing debts? When you apply for a debt consolidation loan, list all the debts you wish to pay off.
  • Is your debt manageable through other means? If your debts have reasonable interest rates and terms, you might not need a debt consolidation loan. Consider other means of paying them off.
2

Do Your Research

It's in your best interest to compare terms, conditions and features from many lenders. Also, be careful before filling out any forms, as some lenders do a hard credit pull rather than a soft check. This can hurt your credit score, even if you don't accept the loan.

For many people, MoneyGeek's list of top debt consolidation lenders in Kansas City, KS, may be all they need. But for others, there may be better alternatives.

3

Wait

Don't jump into a debt consolidation loan. Gather all information first and compare options carefully so you may avoid regrets. Waiting a few days should be enough to think everything through.

4

Read the Fine Print

Some documents may contain information you weren't briefed on, such as origination, late or prepayment fees. Read everything and don't hesitate to ask questions or back out if you feel uncomfortable.

5

Apply

Apply for a loan only when necessary. Have all paperwork ready before visiting your lender to help speed up the process. You will likely need to provide proof of income, identification and your address.

Applying for a debt consolidation loan in Kansas City is simple and easy. Borrowers can complete the process at the lender's office or online. But if you want to clarify a few things, pick up the phone and call the lender.

What to Do if You Can’t Get a Debt Consolidation Loan in Kansas City, KS

If your debt consolidation loan application is rejected, don't give up immediately. Get in touch with your lender to find out why the company turned you down. Common reasons are insufficient income and a high debt-to-income ratio.

Then, negotiate with your lender. You could talk to them about lowering the amount or shortening the terms, for instance. If they agree, verify everything in writing and ensure they won't run another credit check.

If your lender is still not willing to offer you better terms, look for another lender that will. However, you might want to take some time to fix any problems before doing so. Plus, that credit check from the last lender may have dinged your credit score.

If you're struggling to pay back your loans, MoneyGeek suggests exploring alternatives, but avoid payday loans. They can trap you in debt because of high-interest rates and short repayment terms.

Calculate Your Monthly Payment

If you're ready for a debt consolidation loan and want to see if you can get a good deal in KCK, MoneyGeek has a calculator to help you determine the amount of loan that's right for you.

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Frequently Asked Questions About Debt Consolidation Loans in Kansas City, KS

When looking for debt consolidation in Kansas City, it's important to make sure the loan is a good fit for you. MoneyGeek answers some commonly asked questions below.

We recommend LightStream for debt consolidation in Kansas City, Kansas. However, this could change depending on your circumstances.

For example, Upstart may be better if you have bad credit, whereas Upgrade may suit you if you have good credit.

SoFi can also be on par with LightStream for some people.

Borrowers in KCK who consolidate their debt through LightStream could find the best interest rates.

Lending institutions have different criteria for approving financing requests. For example, some won't consolidate debt for business or education purposes; others will.

Lenders in KCK can have a maximum debt consolidation limit of up to $100,000. But they may offer lower amounts based on credit score, debt-to-income ratio and more. Don't apply for more than you need, no matter how tempting six figures may look.

Some KCK lenders may disburse within hours of approval; others may take 48 hours or more.

You can usually pay off loans early, but some debt consolidation lenders charge prepayment fees for early repayment.

Methodology

METHODOLOGY

MoneyGeek reviewed more than 30 personal loan lenders using at least 35 individual data points across six key categories: loan affordability, accessibility, consumer friendliness, customer service, flexibility and lender transparency.

Within each ranking category, we considered several individual data points that we feel carry the most weight when choosing a personal loan lender. These factors include APR ranges, available loan amounts, minimum credit scores, minimum income amounts, application fees and disbursement times.

Here at MoneyGeek, we value you, the consumer, so we also factor in each lender’s customer support, business ratings and additional features that could make your experience easier and more accessible — like prequalification, payment options and mobile apps.

After careful consideration and calculation, we make our picks with your best interests in mind. Our personal loan recommendations and expert tips are meant to help you make smart financial decisions when choosing a lender that meets your needs.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.