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Best Debt Consolidation Loan Lenders in Corpus Christi, TX

MoneyGeek gathered information about different lenders’ APR ranges, credit score requirements, loan amounts, repayment terms, funds disbursement time and 30+ other factors to determine the best lender offering debt consolidation loans in Corpus Christi.

Our research shows Truist provides the best debt consolidation loans in the city, whereas SoFi is the runner-up for such loans. Borrowers with bad credit may benefit the most from Upstart’s loans. If you have a good credit history, an Upgrade debt consolidation loan may be best.

Best Overall Debt Consolidation Loan in Corpus Christi, TX: Truist


  • Truist
    • 8.14% to 18.99%APR Range
    • $3,500 to $50,000Loan Amount Range
    • 6 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds
    Truist

Runner-Up for Best Debt Consolidation Loan in Corpus Christi, TX: SoFi


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

Best Debt Consolidation Loan for Bad Credit in Corpus Christi, TX: Upstart


  • Upstart
    • 8.49% to 35.99%APR Range
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Next DayTime to Receive Funds
    Upstart

Best Debt Consolidation Loan for Good Credit in Corpus Christi, TX: Upgrade


  • Upgrade
    • 11.69% to 35.47%APR Range
    • $1,000 to $50,000Loan Amount Range
    • 36 to 60 monthsRepayment Terms
    • Same DayTime to Receive Funds
    Upgrade

How to Choose the Best Debt Consolidation Loan in Corpus Christi, TX, for You

MoneyGeek's data shows that Texas's average personal loan debt is $15,505. Although a debt consolidation loan can help you save money by consolidating high-interest debt and lowering your monthly payments, it's essential to consider your previous debts and overall financial situation before applying for a loan.

Following these steps will help you analyze different lenders and choose the one that's the best fit for your needs.

1

Ask Yourself the Important Questions

Prior to applying for a loan, you should carefully consider the loan amount you should take out based on your needs and capacity for repayment. During this brainstorming process, you may realize that a debt consolidation loan isn’t the best option for you. At a minimum, we recommend asking yourself the following questions:

  • How much funding do you need? Prior to applying for a loan, estimate your financial needs. It’s important to take out just what you need. That way, you can avoid paying additional money in interest or taking out a second loan.
  • What’s your credit score? Every lender has a different minimum credit score requirement, so this will affect the loans available to you. Your credit score also impacts the repayment terms and loan amount a lender will offer you. If your credit score is low, consider improving it first before applying for a loan.
  • Can you afford the monthly payments? Ensure that you can make the monthly payments for at least two to four years, the average duration of a personal loan.
  • Do you have existing debts? Review your existing debts to ensure that they’re eligible for a debt consolidation loan. You can consolidate credit card debt, but other sources of debt, such as post-secondary education, are ineligible.
  • Is your debt manageable through other means? A debt consolidation loan may not benefit you if its interest rate is higher than your individual loans’ rates.
2

Do Your Research

Prior to applying for a loan, you should research and compare different lenders and their rates. A loan is a long-term commitment and involves monthly payments for a few years, so it’s essential that you review each lender in depth. MoneyGeek’s personal loan guide can help you understand what to look for in a lender; however, there’s no substitute for your personal research.

3

Wait

After you’ve found the best lender, MoneyGeek recommends waiting a few days before applying for a loan. A debt consolidation loan is a significant commitment, so it’s important to think through if it’s the best decision for your financial future. During this time, you can also explore other ways to repay your existing debt more efficiently.

4

Read the Fine Print

Taking a look at the fine print of the lender’s loan agreement can help you understand the fees and additional expenses associated with a loan. Some key factors to look for include prepayment, origination or late payment fees. You can save a lot of money in the long run by taking a few minutes upfront to thoroughly vet your loan agreement.

5

Apply

Once you have analyzed all essential factors, you can apply for a debt consolidation loan with your chosen lender. You might have to provide identification details, address verification and financial information. Though many lenders only have online applications, several lenders also offer in-person options.

What to Do if You Can’t Get a Debt Consolidation Loan in Corpus Christi, TX

You might feel distressed if your loan application is rejected, but it’s important to remember that this happens all the time. Lenders take into account different factors like credit score, debt-to-income ratio, employment and income when evaluating borrowers. If you don’t meet the lender’s criteria for one of these factors, your application will likely be rejected.

If your loan application is rejected, you should first reach out to the lender to ask why it was denied. Then, you can begin working to improve that factor, which can increase your chances of being approved. For instance, if you have a bad credit history, you can improve it by getting a credit card to rebuild your credit score. Although you can always apply with a different lender, it’s unlikely that your loan will be approved if you haven’t improved the factor that caused it to be initially rejected.

We also strongly advise against payday loans. These loans have significant interest rates and short repayment terms. Most borrowers fail to repay these loans, further hurting their credit score.

Calculate Your Monthly Payment

Paying back your debt consolidation loan usually involves monthly payments, including interest. Before applying for a loan, you should estimate how much you will have to pay monthly to understand if you can afford a new loan. MoneyGeek’s personal loan calculator can help you figure out your loan’s monthly payment.

years
months
%

Principal

+ $114.98

Interest

+ $8.33

Origination Fee Percentage

+
%

Origination Fee Fixed amount

+

Total monthly payment

$123.31

Frequently Asked Questions About Debt Consolidation Loans in Corpus Christi, TX

The best debt consolidation lender in Corpus Christi will depend on your financial needs and situation. MoneyGeek researched the following commonly asked questions about debt consolidation loans to help you decide which lender would be ideal for you.

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.

sources

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.