What is the best debt consolidation loan lender in North Dakota?

In North Dakota, we found that Upgrade is the best option overall. However, your ideal lender depends on your needs and background. For instance, SoFi is a great choice for individuals with good credit.

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

For debt consolidation in North Dakota, Upstart has the lowest interest rates.

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

It depends on the lender. Some have no restrictions, while others don’t allow debt consolidation for post-secondary education. We advise asking your lender if they have any restrictions before you apply.

How much debt can I consolidate in North Dakota?

You can borrow up to $100,000 to consolidate debt in North Dakota, but it varies based on the lender.

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

It can take anywhere from the same day to one week. Different lenders have different processing times, especially if you need to provide other documents with your application.

Can I pay off my loan early in North Dakota?

Yes, but some lenders charge prepayment penalties. Ask your lender if they charge fees to borrowers who pay off their debt consolidation loans early.

Top Lenders & Best Rates for You

Best Debt Consolidation Loans in North Dakota of 2023

North Dakota residents have an average of $5,223 in credit card debt and an average of $15,869 in personal loan debt with an interest rate of roughly 9.58%. Debt consolidation can help you eliminate multiple debt streams, combining your monthly payments and lowering your interest rate. Lenders usually evaluate your credit score, debt-to-income ratio and income when considering your debt consolidation loan application. MoneyGeek researched the top North Dakota debt consolidation loan lenders for different types of borrowers.

WHAT WE’RE GEEKING OUT ON

Best Overall Debt Consolidation Loan Lender in North Dakota
Runner-Up for Best Overall Debt Consolidation Loan Lender in North Dakota
Best Debt Consolidation Loan Lender for Bad Credit in North Dakota
Best Debt Consolidation Loan Lender for Good Credit in North Dakota
How to Choose the Right Personal Loan for You
What to Do if You Can’t Get a Debt Consolidation Loan in North Dakota
Calculate Your Monthly Payment
Frequently Asked Questions About Personal Loans in North Dakota

Best Debt Consolidation Loan Lenders in North Dakota

MoneyGeek analyzed more than 30 data points to evaluate North Dakota lenders. We considered factors such as affordability, accessibility, APR ranges, terms, minimum credit scores, income requirements, origination and late fees, loan disbursement times, customer service and BBB ratings.

Through this research, Upgrade was rated North Dakota's best lender overall. Depending on your circumstances, you might be better off selecting a different lender. North Dakota residents with good credit will find SoFi to be the best option, while those with poor credit will find Upstart as the top choice.

Best Overall Debt Consolidation Loan in North Dakota: 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
The best debt consolidation lender in North Dakota, based on MoneyGeek's data, is Upgrade. Launched in 2017, Upgrade is headquartered in San Francisco, California. Over 15 million customers have benefited from loans and credit cards provided by Upgrade since its inception. The Better Business Bureau (BBB) gave this lender an A+ rating based on customer reviews.
Upgrade pays third-party creditors directly, which can save you time. The lender requires only a credit score of 560. While it charges an origination fee, this cost is deducted from your loan amount, and there are no fees if you pay off your loan early.
Co-signers are not permitted with Upgrade loans. Additionally, Upgrade may not be an ideal lender if your debt exceeds $50,000 or if you prefer a lower APR.
Pros
Receive funds within the same day
Fair minimum credit score
No prepayment fees
A+ BBB rating
Autopay discount

Cons
High origination fees
$50,000 maximum loan amount
No co-signers
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
on Upgrade Website

Runner-Up for Best Debt Consolidation Loan in ND: 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
MoneyGeek ranked LightStream as the runner-up for the best debt consolidation lender in North Dakota. LightStream's headquarters are in San Diego, California, and it is part of Truist Bank.
LightStream allows joint loans. It does not charge prepayment penalties if you pay off your loan early. The lender also does not charge origination or late fees. It even offers an autopay discount.
As one of the largest debt consolidation lenders, LightStream has a maximum loan amount of $100,000.
During rate checks, LightStream performs a hard credit pull, which will impact your credit score. Also, LightStream does not directly pay creditors and does not allow co-signers.
Pros
A+ BBB rating
High loan amount of $100,000
Joint loans available
No origination, late or prepayment penalty fees
Autopay discount

Cons
No co-signers
Hard credit inquiry
Limitations on fund usage
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
on LightStream Website

Best Debt Consolidation Loan for Bad Credit in North Dakota: 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
Founded in 2012, Upstart is a lending platform powered by artificial intelligence. It is based in San Mateo, California.
Upstart is a good option for North Dakota residents with bad credit since the minimum credit score is only 300. Upstart earned an A+ rating from the BBB and has no prepayment penalties. It also conducts a soft credit inquiry during rate checks so that your credit score isn’t affected.
Upstart loans require borrowers to have a debt-to-income ratio of 45% or less and a gross income of at least $12,000. Individuals who prefer having a mobile app for their debt consolidation should consider other lenders since Upstart doesn’t offer one.
Pros
A+ BBB rating
Minimum credit score of 300
No prepayment penalty
Performs soft credit check
Offers joint loans

Cons
Potentially high origination fee
No co-signers
Doesn’t charge late fees
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
on Upstart Website

Best Debt Consolidation Loan for Good Credit in North Dakota: 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
Over $50 billion in loans have been funded by SoFi (Social Finance, Inc.) since it was founded by Stanford business students in 2011. The company’s headquarters are in San Francisco, California.
For North Dakota debt consolidation, SoFi is a top-performing lender with good credit. The average North Dakota resident has a 703 credit score, making it easy to qualify for a debt consolidation loan with SoFi since the company requires a minimum credit score of 680.
SoFi also offers one of the highest loan amounts in North Dakota at $100,000. Plus, with SoFi’s mobile app, you can manage your account from almost anywhere.
Pros
A+ BBB rating
Offers competitively high loan amounts
Autopay discount
No origination fee
Offers loss of employment protection

Cons
Somewhat high credit score requirement
Co-signers not allowed
High income requirement
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
on SoFi Website

How to Choose the Best Debt Consolidation Loan in North Dakota for You

On average, North Dakota residents have $21,092 combined in personal loan and credit card debt. Debt consolidation can merge your debts to make paying easier and help you get a lower interest rate. If you’re interested in debt consolidation loans in North Dakota, know that lenders will evaluate your credit score, current debts, employment and more. In the steps below, MoneyGeek outlines how to shop around for debt consolidation lenders in North Dakota.

Ask Yourself the Important Questions

Understanding your financial situation is important when consolidating your debts. You should ask yourself the following questions before picking a lender and applying for a personal loan:

How much funding do I need?
What is my credit score?
Can I afford the monthly payment?
How much debt do I already have?
Can I manage my debt in other ways?

Do Your Research

Several lenders differ in their terms and conditions as well as their rates and fees. To determine which lender is right for you, you should compare multiple options before submitting an application. It is a big commitment to take out a personal loan since you will have to pay it back over a period of two to four years or longer. Keep in mind that the suggestions listed here are general, so MoneyGeek encourages you to research your options thoroughly.

Wait

Trying to compare the rates and fees for several types of loans can be overwhelming. Taking your time before making a decision can be beneficial. Getting a personal loan is a major financial decision, and you must be sure it is the right option for you. Take the time to examine your options after you have done your research.

Read the Fine Print

Often, when researching personal loans in North Dakota, people overlook important details. Along with upfront fees that are clearly outlined in your lender's terms and conditions, you may also discover hidden costs. Before finalizing a choice in terms of a lender, research their fees. Be sure to check out interest rates as well as collateral requirements. You can save a great deal of money if you pay attention to the small details.

Apply

After researching, reading the fine print and waiting to make a decision, you can submit your application. You should feel confident about your choice of lender at this point and have all the information you need to apply. A lender is typically required to verify a borrower's identity, address and income during the loan application process. Despite the convenience of applying online, you may call or visit the lender in person if those options are available.

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

If your loan application is rejected, you should contact the lender to find out why and determine if any changes can be made. You can make your application more appealing by shortening the loan terms or lowering the loan amount.

You may also have the option of obtaining a cosigner or collateral-based loan if you have difficulty getting approved. Alternatively, you may apply to a different lender if you need a loan urgently. However, it's best to avoid this until you've corrected whatever reason led to the rejection of your application.

Some people may consider payday loans. MoneyGeek advises against these types of loans. They have high interest rates and fees, which could mean you end up in an even deeper cycle of debt.

Calculate Your Monthly Payment

Borrowers usually pay off debt consolidation loans in monthly installments with interest. Use MoneyGeek’s debt consolidation loan calculator below to help you determine if you’re financially able to cover this expense each month.

Month	Payment	Principal	Interest	Balance

FAQs About Debt Consolidation Loans in North Dakota

When it comes to debt consolidation, it’s important to start by assessing your financial profile. MoneyGeek answers some of the most commonly asked questions about debt consolidation loans in North Dakota.

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

LightStream. "Frequently asked questions." Accessed June 27, 2022.
LightStream. "About Us." Accessed June 27, 2022.
SoFi. "Personal Loans." Accessed June 27, 2022.
Upgrade. "About Us." Accessed June 27, 2022.
Upgrade. "Debt Consolidation Loans." Accessed June 27, 2022.
Upgrade. "Is collateral required to get a Personal Loan or an Upgrade Card through Upgrade?." Accessed June 27, 2022.

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.