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Best Debt Consolidation Loan Lenders in Kansas

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Updated: December 28, 2023

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WHAT WE’RE GEEKING OUT ON

Best Debt Consolidation Loan Lenders in Kansas

Depending on your needs and circumstances, the best debt consolidation loans in Kansas may vary. MoneyGeek analyzed over 30 data points to determine the best loan options for various borrower profiles in Kansas. These factors include Better Business Bureau (BBB) ratings, loan amounts, repayment terms, interest rates, penalties, fees and minimum requirements.

Based on our evaluation, Upgrade offers the best loans for debt consolidation in Kansas. However, the best lender for you will be based on your specific borrower profile. For example, Upstart and SoFi are the best lenders for borrowers with bad and good credit.

Best Overall Debt Consolidation Loan in Kansas: Upgrade


  • Upgrade
    • 5.94% to 35.47%APR Range
    • 560Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds

    Upgrade was ranked by MoneyGeek as the best debt consolidation lender in Kansas. The company was launched in 2017 and has swiftly established a good reputation, earning an A+ rating from the BBB. In addition to debt consolidation products, the company also offers loans for home improvements and major purchases. Upgrade completes a soft credit check which won’t impact the borrower's credit score.

    However, Upgrade's origination costs and high-interest rates may make this lender unattractive to borrowers looking for low-interest debt consolidation loans or loans without added fees.

    Pros

    • Same-day funding available
    • Direct payment to creditors
    • Low minimum loan amount
    • Fair minimum credit score requirement
    • No prepayment penalty

    Cons

    • Late fee
    • High origination fee
    • Potentially high APRs
    • APR range: 5.94%–35.47%
    • Minimum/maximum loan amount: $1,000–$50,000
    • Minimum credit requirements: 560
    • Repayment terms: 36–60 months
    • Time to receive funds: Same day
    Upgrade

Runner-Up for Best Debt Consolidation Loan in Kansas: LightStream


  • LightStream
    • 4.49% to 20.49%APR Range
    • 660Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 24 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds

    LightStream, founded in 2012 as an online lending branch of SunTrust, is the runner-up for best debt consolidation lenders in Kansas.

    LightStream does not impose prepayment penalty fees if you pay off your loan early. In addition, this lender does not charge any origination or late fees. At $100,000, LightStream has one of the largest maximum loan amounts among debt consolidation lenders. The lender’s relatively low interest rates also make it a good option for borrowers looking to save money on monthly payments.

    However, LightStream's rate checks include a hard credit check, which might negatively affect your credit score. The lender’s minimum credit score requirement of 660 may also make it difficult for many borrowers to qualify.

    Pros

    • A+ BBB rating
    • Autopay discount of 0.5%
    • No origination fees
    • No prepayment penalty fees
    • High maximum loan amount

    Cons

    • Direct payment to third-party creditors not available
    • Good to excellent credit score requirement
    • Hard credit check
    • APR range: 4.49%–20.49%
    • Minimum/maximum loan amount: $5,000–$100,000
    • Minimum credit requirements: 660
    • Repayment terms: 24–84 months
    • Time to receive funds: Same day
    LightStream

Best Debt Consolidation Loan for Bad Credit in Kansas: Upstart


  • Upstart
    • 3.22% to 35.99%APR Range
    • 300Minimum Credit Score
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds

    Upstart is an artificial intelligence (AI) loan lending platform that was founded in 2012. Since its launch, it has provided funds to over 1.8 million individuals.

    With just a 300 minimum credit score requirement, A+ rating from the BBB and quick funding, Upstart is the best option for borrowers with poor credit in Kansas. The company completes a preliminary soft credit check to avoid negatively impacting your credit. A hard inquiry will only be performed if the borrower accepts the rate and completes the application.

    However, if you are looking for loans more than $50,000 or have a debt-to-income ratio greater than 45%, Upstart may not be your best choice. Additionally, those with poor credit scores may receive a high interest rate on their loan, in excess of 35%.

    Pros

    • No minimum credit score requirement
    • A+ BBB rating
    • Low minimum loan amount
    • Soft credit inquiry
    • Funds available in one to two days

    Cons

    • Low maximum loan amount
    • Origination fee
    • Potentially high APRs
    • APR range: 3.22%–35.99%
    • Minimum/maximum loan amount: $1,000–$50,000
    • Minimum credit requirements: 300
    • Repayment terms: 36–60 months
    • Time to receive funds: Next day
    Upstart

Best Debt Consolidation Loan for Good Credit in Kansas: SoFi


  • SoFi
    • 5.74% to 20.28%APR Range
    • 680Minimum Credit Score
    • $5,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms
    • Two DaysTime to Receive Funds

    SoFi, also known as Social Finance, Inc., was started in 2011. According to our research, SoFi is the best lender for individuals with high credit that want a debt consolidation loan in Kansas. Most borrowers in Kansas will meet SoFi’s minimum credit score requirement of 680, as the average credit score in Kansa is 726.

    Borrowers seeking loan amounts up to $100,000 can save money with SoFi’s relatively low interest rates. The lender also doesn’t charge fees for prepayment, origination or late payments

    Although the lender offers several benefits, SoFi might not be a good option for people with bad credit or those who want to borrow less than $5,000. Its high interest rates may also discourage applicants from applying.

    Pros

    • A+ BBB rating
    • No origination fee
    • Soft credit check
    • No late fees
    • High maximum loan amount

    Cons

    • High minimum credit score requirement
    • High minimum loan amount
    • APR range: 5.74%–20.28%
    • Minimum/maximum loan amount: $5,000–$100,000
    • Minimum credit requirements: 680
    • Repayment terms: 12–60 months
    • Time to receive funds: Two days
    SoFi

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

Before you apply for a debt consolidation loan in Kansas, you should consider your gross income, credit score, outstanding debt and current employment situation. Borrowers who have multiple sources of debt often benefit from consolidating their debt into a single monthly payment at a lower interest rate. Kansas residents have an average credit score of 726 and a personal loan debt of $18,093.

MoneyGeek outlines steps to take when applying for a debt consolidation loan in Kansas.

1
Ask Yourself the Important Questions

Before applying for a debt consolidation loan, you should consider your current financial situation and needs. At a minimum, we recommend answering the following questions:

  • How much funding do you need? Depending on the amount of funding that you need, a debt consolidation loan may not be the best option for you. You may want to consider seeking an alternative source of funding that doesn’t involve as lengthy of a time commitment for repayment. The amount of funding you need will also determine the lenders that are available to you, as each lender offers a different loan amount.
  • What’s your credit score? Your credit score will determine the loan amount, interest rate and lenders that are available to you. Most lenders have a minimum credit score requirement. All lenders assess your capacity to repay a loan based on your credit score. As such, MoneyGeek recommends improving your credit score before applying for a loan, if you have the time.
  • Can you afford the monthly payments? Ensuring that you have a stable income to make monthly payments is essential before applying for a debt consolidation loan. Failure to make payments could cause you to accrue additional debt or poorly affect your credit score.
  • Do you have existing debts? If you have student debt, you may not qualify for a debt consolidation loan with certain lenders. Assessing not only the quantity, but the type of debt you have, will help you choose the best lender for your needs.
  • Is your debt manageable through other means? Prior to applying for a debt consolidation loan, consider an alternative funding source.
2
Do Your Research

To get the best deal for your financial situation, you should research different lenders’ rates, fees and terms. Remember that debt consolidation loans are a long-term commitment — up to seven years in some cases — so it’s worthwhile to take the time to find the best provider for you. MoneyGeek's guide is an excellent place to start, but our research is for generic borrower profiles, rather than your specific financial needs.

3
Wait

After shopping around and comparing different lenders’ loan terms, we recommend waiting an additional day or two to allow yourself time to consider your options. Keep in mind that a debt consolidation loan is a significant financial commitment. Only choose a lender after thoroughly researching and determining that it is the best fit for your needs.

4
Read the Fine Print

When selecting a lender, thoroughly review its loan agreement for hidden disclosures, including prepayment penalties, origination fees, late fees and any other fees that may increase the cost of your monthly payments. If you have any questions, you should always reach out to your chosen lender for clarification.

5
Apply

After you have completed your research, the next step is to apply. Whether you apply online or in person, ensure all your information is organized and accessible. Lenders often request identification, address verification and proof of income during the application process. Gathering these document beforehand can save you time.

While an online application is typically more convenient, you can also apply over the phone or in person, depending on the lender.

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

There are several reasons why lenders may decline your application for a debt consolidation loan. Poor credit, lengthy debt history or a low income can all cause your application to be denied.

If your loan application is rejected, you should ask your lender why it was denied. Your loan may be approved simply by shortening the repayment term or lowering the loan amount. We recommend improving your application before applying with a different lender, as this will increase your chances of approval and won’t impact your credit score.

Payday loans are attractive for getting cash quickly, but they generally charge outrageous interest rates and feature short repayment terms. Because of this, MoneyGeek strongly advises against getting a payday loan.

Calculate Your Monthly Payment

Consumers in Kansas pay back debt consolidation loans in monthly installments with interest. You can use MoneyGeek's debt consolidation payment calculator to estimate your monthly payment.

years
months
%
Principal
+ $114.98
Interest
+ $8.33
Origination Fee Percentage
+
%
Origination Fee Fixed amount
+
Total monthly Payment
$123.31

FAQs About Debt Consolidation Loans in Kansas

Debt consolidation loans, in general, may be used to pay off high-interest debts. Your needs determine the best debt consolidation loan in Kansas for you. Lenders analyze criteria such as your credit history, income, expenses and funding goals. MoneyGeek answered the most commonly asked questions regarding Kansas debt consolidation loans.

What is the best debt consolidation loan lender in Kansas?

In Kansas, Upgrade is the best lender for debt consolidation loans. However, your ideal lender may depend on your financial status and specific financial goals. If you have good to excellent credit, SoFi is the best option, whereas Upstart is suitable for those with poor credit.

Which lender in Kansas has the lowest interest rates for debt consolidation?

Upstart offers the most affordable rates in the state of Kansas with interest rates as low as 3.22%.

What kind of debts can I not use my debt consolidation loan for in Kansas?

This depends on the lender. Some don't have any restrictions, while others don't allow the use of funds for post-secondary education. Before applying, you should ask your lender if there are any restrictions.

How much debt can I consolidate in Kansas?

In Kansas, you can borrow up to $100,000 to pay off your debts, but the maximum allowed loan amount varies by lender.

How long does it take to get a debt consolidation loan in Kansas?

Processing times vary from lender to lender, especially if you need to send in other documents with your application. Generally, it takes between one and seven days to receive your debt consolidation loan.

Can I pay off my loan early in Kansas?

Yes. However, some lenders impose prepayment penalties on those who want to pay off their loans early. It’s important to ask your lender about any fees for paying off your debt consolidation loan early.

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METHODOLOGY

MoneyGeek reviewed over 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 amount, minimum credit score, minimum income amount, application fees and disbursement time.

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, our picks are chosen 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.

sources
Shield Insurance

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.

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