What is the best debt consolidation loan lender in Fort Worth?

According to MoneyGeek's research, Truist is the best company in Fort Worth for debt consolidation loans.

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

Upstart offers the lowest rate, but your specified interest rate will be determined by your credit score.

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

Each lender has a separate set of restrictions. You may not be able to combine debt for businesses or educational institutions, depending on the lender.

How much debt can I consolidate in Fort Worth?

Debts up to $100,000 can often be consolidated, although the guidelines for each Fort Worth lender may be different.

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

Typically, receiving a loan takes up to two business days, though processing times can vary between lenders.

Can I pay off my loan early in Fort Worth?

Although paying off your debt consolidation loan early is an option, it is a good idea to review the terms and conditions because some lenders charge prepayment fees.

Best Debt Consolidation Loans in Fort Worth of 2023

WHAT WE’RE GEEKING OUT ON

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

Best Debt Consolidation Loan Lenders in Fort Worth, TX

MoneyGeek identified the top debt consolidation loan lenders in Forth Worth after examining more than 30 data variables to help you make an informed decision. APR ranges, minimum credit score requirements, loan amount ranges, repayment terms, late penalties, BBB ratings and funding timelines are just a few examples of these variables.

According to MoneyGeek's metrics, Truist is Forth Worth's top-ranked provider for debt consolidation loans.

Best Overall Debt Consolidation Loan in Fort Worth, 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
MoneyGeek’s pick for the top debt consolidation provider in Fort Worth is Truist. Truist offers a range of financial services, including banking, insurance, asset management and more. It is one of the top 10 U.S. commercial banks.
Truist offers next-day access to funds for those looking to consolidate debt. Unlike other lenders, it has no minimum credit score requirement and offers competitive interest rates. In addition, Truist does not charge origination or prepayment fees, helping you save money.
However, Truist may not be the best fit for those looking for a loan under $3,500. In addition, loan application materials may only be available in English for those who lack proficiency in this area. Lastly, Truist doesn't allow prequalification, which would let borrowers view their possible rate and monthly payments without affecting their credit score.
Pros
Low interest rate minimum and maximum
No credit score requirement
Next-day funding
Flexible repayment terms
No origination fees

Cons
High minimum loan amount
Limited support for non-English speakers
on Truist Website

Runner-Up for Best Debt Consolidation Loan in Fort Worth, 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 was established in 2011 and offers a range of financial services. MoneyGeek determined that SoFi is a solid option for applicants with good credit because there are very few fees. You can also get discounts on your interest rate for using autopay. However, its minimum loan amount of $5,000 is quite high.
One benefit is that SoFi does not charge prepayment fees, so borrowers are free to pay off their loans before the end of their loan term. SoFi also offers prequalification, which only involves a soft credit pull, so your credit score won't be affected if you're still comparing other options.
However, keep in mind that personal loans from SoFi can't have co-signers apply. SoFi does allow co-borrowers, but they have to live at the same address as the main borrower. Finally, SoFi has a high minimum credit score of 680 and a steep minimum APR.
Pros
Convenient loan calculator
No origination or early payment penalties
High loan limit of $100,000
Discounts for automatic payments

Cons
No option for co-signed loans
$5,000 is the minimum loan amount
High credit score requirement
High minimum APR
on SoFi Website

Best Debt Consolidation Loan for Bad Credit in Fort Worth, TX: Upstart

Upstart
- 3.22% to 35.99%APR Range
- $1,000 to $50,000Loan Amount Range
- 36 to 60 monthsRepayment Terms
- Next DayTime to Receive Funds
Since it was founded in 2012, Upstart has been providing online financial services aimed at borrowers with poor credit. Due to its low credit score requirement, MoneyGeek picked Upstart as the best consolidation loan provider in Fort Worth for those with poor credit scores. Using its AI-powered algorithm, Upstart also considers education and employment, among other factors, during the loan approval process.
For those with low credit, Upstart offers a soft credit check to help you compare rates online before conducting a hard check that can impact your score. Although the bottom range of Upstart’s interest rates is low, those with poor credit may only qualify for higher interest rates. In addition, Upstart only offers loans up to $50,000, which may be unsuitable for some borrowers.
People who want greater flexibility may also be limited by Upstart’s two repayment terms as well as the lack of a mobile app to manage loans.
Pros
Considers more than just credit scores
Low minimum loan amount of $1,000
Accepts applicants with low credit scores
Online prequalification
No penalty for paying off loans early

Cons
No convenient mobile app
Only offers two repayment terms
Maximum APR is extremely high
on Upstart Website

Best Debt Consolidation Loan for Good Credit in Fort Worth, TX: Upgrade

Upgrade
- 5.94% to 35.47%APR Range
- $1,000 to $50,000Loan Amount Range
- 36 to 60 monthsRepayment Terms
- Same DayTime to Receive Funds
Upgrade was founded in 2017 in San Francisco, California. With its potentially low interest rates, Upgrade is MoneyGeek's top recommendation for Fort Worth residents with good credit who want to consolidate their debt. Though it accepts candidates with a minimum credit score of 560, only those with the highest credit scores may be eligible for the lowest interest rates.
Borrowers should be aware that they can be penalized with ACH return and check refund costs in addition to late fees, and Upgrade also charges an origination fee of up to 8.99% for every personal loan.
One of Upgrade's major strengths is that it pays third-party lenders directly, which is useful for those looking into debt consolidation. Upgrade also provides shared loans if you're having problems meeting the requirements on your own.
Pros
Suitable for those looking for small loans
No prepayment fees
Long repayment terms available
Offers joint loans

Cons
Fair credit score requirement
Potentially high APR for those with low credit scores
Charges origination fees
on Upgrade Website

How to Choose the Best Debt Consolidation Loan in Fort Worth, TX, for You

Many individuals who have multiple debts seek debt consolidation loans to lower the overall amount of interest they must pay and optimize the repayment process. In Texas, the average individual has personal loan debt of $15,505.

If you're considering obtaining a debt consolidation loan in Fort Worth, MoneyGeek has provided the following steps to help you make an informed decision:

Ask Yourself the Important Questions

Before filling out an application, ask yourself if you truly need a loan to consolidate your debt.

How much funding do you need? Most lenders have minimum and maximum loan amounts they are willing to lend you.
What’s your credit score? Only those with the highest credit scores can get the lowest rates.
Can you afford the monthly payments? You might have to pay late fees and penalties if you are unable to make payments on time.
Do you have existing debts? Lenders may reject candidates with large amounts of debt and low income.
Is your debt manageable through other means? Consider looking for easier alternatives to debt consolidation.

Do Your Research

Taking out a debt consolidation loan is a major commitment because it typically needs to be repaid over several years. Some lenders also perform hard credit checks that can temporarily reduce your credit score. In light of this, you should carry out an in-depth analysis and research a variety of lenders before choosing one.

If you have unique requirements, consider looking into other debt consolidation providers in Fort Worth besides the ones MoneyGeek has recommended.

Wait

It would be a good idea to spend a few days thinking it over before selecting your debt consolidation provider so that you can weigh any alternatives. Because debt consolidation loans can take years to repay, don't rush into anything.

Read the Fine Print

By ignoring the fine print, borrowers frequently miss important information, including origination, late, bounced check and prepayment penalties. Being aware of these fees is advisable if you'll need to pay them down the line.

You can also email or call a financial advisor or your preferred lender if you have any questions about the fine print.

Apply

Once you've researched and found a lender you're happy with, it's time to apply. To make the application procedure as straightforward as possible, gather all relevant paperwork in advance. In addition to the usual proof of identity, address and income, lenders may also ask for supporting credentials.

Despite the fact that you can apply for a loan online, it may be useful to contact or chat with your chosen lender directly if you have any questions about your loan.

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

If your loan application for debt consolidation is turned down, you don't have to give up. A number of factors can cause an application to be rejected, including bad credit, a lack of income, a high debt-to-income ratio and a lack of job experience. In order to resolve these concerns and improve your chances of being accepted in the future, you need to ask your lender why your application was denied.

Ask your lender if you might be eligible for a loan with a smaller amount, different interest rate or shorter repayment period. The lender may accept your loan's modified terms in certain circumstances. If not, once you've worked to strengthen your finances, you may decide to submit an application with a different lender.

Payday loans with simple application procedures could tempt some borrowers, but MoneyGeek strongly discourages it. Payday loans have incredibly high interest rates and fast repayment periods. Because of this, it is possible that you may end up in a cycle of debt that only gets worse.

Calculate Your Monthly Payment

Keep in mind that you need to pay back a personal loan in installments with interest, usually paid monthly. Calculate your monthly payment first to determine if your finances can cover it using MoneyGeek’s calculator.

Month	Payment	Principal	Interest	Balance

Frequently Asked Questions About Debt Consolidation Loans in Fort Worth, TX

Depending on your credit score and desired loan amount, you can find the best debt consolidation loan in Fort Worth for your needs. To help you choose a loan, MoneyGeek answers a few commonly asked questions.

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

SoFi. "Consolidate vs. Refinance." Accessed October 2, 2022.
SoFi. "Credit Card Debt Consolidation Loans." Accessed October 2, 2022.
SoFi. "Getting a Personal Loan with a Co-Applicant." Accessed October 2, 2022.
Upgrade. "How Do Joint Applications Work?." Accessed October 4, 2022.
Upgrade. "Are There Any Fees?." Accessed October 4, 2022.
Upstart. "What Fees Am I Charged?." Accessed October 3, 2022.
Upstart. "Simple and Fast Debt Consolidation Loans." Accessed October 3, 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.