DEBT CONSOLIDATION LOANS
Most of us are impacted by the stigma around debt.Our recent survey conducted by Wakefield Research showed nearly three in four Americans find an unfair stigma associated with debt, even when it’s responsibly managed.More than 70% of those surveyed believe that taking on debt purposefully can help meet life’s challenges.Rather than a negative, using debt smartly as a financial tool can be a thoughtful and values-driven decision.Managing debt is just as important as why you incur it.28% of Americans with good credit carry an average of $19,833 in debt. Credit cards are a popular payment solution but people often overlook a debt consolidation loan as an efficient way to save money.Debt consolidation saves two valuable assets — money and time.Almost 20% of surveyed Americans mistakenly think getting a debt consolidation loan takes months. LightStream can deliver funds at low, fixed interest rates as soon as the day you apply. It’s easy to pay off your expensive debt and start saving money now.Surveyed Americans are embracing new attitudes toward debt.
Infographic titled Weighing the Costs
Text:
Weighing the costs of $19,833 repayment over 36 months
LightStream debt consolidation loan: $1,872 in interest charges
Credit card debt: $6,785 in interest charges
Total interest payment savings with LightStream: $4,913
Why use a debt consolidation loan from LightStream?
- Save money on credit card interest rates: Instead of paying off variable-rate credit card debt with high-interest payments, you can settle into a predictable fixed-rate, monthly repayment plan, at a lower interest rate and with no fees.
- Pay off high-interest financing from other purchases: Financing obtained from other lenders or for specialty purposes often comes with high interest rates. Have you made store purchases with costly “buy now, pay later” financing? Did you sign up for a timeshare using seller funding? Have you taken out expensive loans from other lenders?
- Simplify payments: Consolidating debts into one loan payment makes it easier to manage expenses and facilitate transactions.
- Boost your credit score: Resolving debt quickly with a debt consolidation loan enables you to pay down current balances and create a singular payment channel, decreasing the chances of missed payments and increased rates — which can help you maintain a strong credit profile.
Ready to manage your purposeful debt? If so, a LightStream debt consolidation loan has fixed rates, flexible terms, no fees and a Loan Experience Guarantee, so you can have peace of mind for your financial future.
Please note: Credit Card/Debt Consolidation loan amounts greater than $50,000 are only available for
Excellent Credit
Given the unique nature of each individual’s credit situation, LightStream believes there is no single definition for "excellent credit." However, we find individuals with excellent credit usually share the following characteristics:
- Five or more years of significant credit history
- A credit history with a variety of account types such as major credit cards (for example, Visa, MasterCard, Amex), installment debt (vehicle loans) and mortgage debt if applicable
- An excellent payment history with no delinquencies or other problems repaying debt obligations
- A proven ability to save evidenced by some or all of the following; liquid assets (stocks, bonds, bank deposits, etc.), cash down payments on real estate, retirement savings, and little, if any, revolving credit card debt
- Stable and sufficient income and assets to easily repay current debt obligations and any new loan with LightStream
Finally, it should be noted again that each individual situation is different and that we make our credit judgment based on the specific facts of that situation. Ultimately, our determination of excellent credit is based on whether we conclude that there is a very high likelihood that our loan will be repaid in a full and timely manner.
.Please note: Credit Card/Debt Consolidation loan terms greater than 60 months with a loan amount of less than $25,000 are only available for
Excellent Credit
Given the unique nature of each individual’s credit situation, LightStream believes there is no single definition for "excellent credit." However, we find individuals with excellent credit usually share the following characteristics:
- Five or more years of significant credit history
- A credit history with a variety of account types such as major credit cards (for example, Visa, MasterCard, Amex), installment debt (vehicle loans) and mortgage debt if applicable
- An excellent payment history with no delinquencies or other problems repaying debt obligations
- A proven ability to save evidenced by some or all of the following; liquid assets (stocks, bonds, bank deposits, etc.), cash down payments on real estate, retirement savings, and little, if any, revolving credit card debt
- Stable and sufficient income and assets to easily repay current debt obligations and any new loan with LightStream
Finally, it should be noted again that each individual situation is different and that we make our credit judgment based on the specific facts of that situation. Ultimately, our determination of excellent credit is based on whether we conclude that there is a very high likelihood that our loan will be repaid in a full and timely manner.
.Rates for each loan amount and term combination below are shown in a minimum to maximum range because LightStream rates and terms vary based on your credit profile. The lowest rate in each range requires that you have an
Excellent Credit
Given the unique nature of each individual’s credit situation, LightStream believes there is no single definition for "excellent credit." However, we find individuals with excellent credit usually share the following characteristics:
- Five or more years of significant credit history
- A credit history with a variety of account types such as major credit cards (for example, Visa, MasterCard, Amex), installment debt (vehicle loans) and mortgage debt if applicable
- An excellent payment history with no delinquencies or other problems repaying debt obligations
- A proven ability to save evidenced by some or all of the following; liquid assets (stocks, bonds, bank deposits, etc.), cash down payments on real estate, retirement savings, and little, if any, revolving credit card debt
- Stable and sufficient income and assets to easily repay current debt obligations and any new loan with LightStream
Finally, it should be noted again that each individual situation is different and that we make our credit judgment based on the specific facts of that situation. Ultimately, our determination of excellent credit is based on whether we conclude that there is a very high likelihood that our loan will be repaid in a full and timely manner.
profile. N/A means that LightStream loans are not available for that loan amount and term combination.Rates for each loan amount and term combination below are shown in a minimum to maximum range because LightStream rates vary based on your credit profile. The lowest rate in each range is for LightStream's unsecured auto loan product and requires that you have an
Excellent Credit
Given the unique nature of each individual’s credit situation, LightStream believes there is no single definition for "excellent credit." However, we find individuals with excellent credit usually share the following characteristics:
- Five or more years of significant credit history
- A credit history with a variety of account types such as major credit cards (for example, Visa, MasterCard, Amex), installment debt (vehicle loans) and mortgage debt if applicable
- An excellent payment history with no delinquencies or other problems repaying debt obligations
- A proven ability to save evidenced by some or all of the following; liquid assets (stocks, bonds, bank deposits, etc.), cash down payments on real estate, retirement savings, and little, if any, revolving credit card debt
- Stable and sufficient income and assets to easily repay current debt obligations and any new loan with LightStream
Finally, it should be noted again that each individual situation is different and that we make our credit judgment based on the specific facts of that situation. Ultimately, our determination of excellent credit is based on whether we conclude that there is a very high likelihood that our loan will be repaid in a full and timely manner.
profile. If your application is approved, your credit profile will determine your rate. N/A means that LightStream loans are not available for that loan amount and term combination.
- Rates quoted with AutoPay option. Invoicing option is 0.50% points higher.
- Fixed rate, simple interest fully amortizing installment loans, no fees or prepayment penalties.
- Loan proceeds may not be used to refinance any existing loan with LightStream.
- Florida loans subject to
Florida Doc Stamp Info
Under Florida law we are required to collect and transmit to the State of Florida, on your behalf, a documentary stamp tax. The amount of this tax, which is slightly more than .0035 times your loan amount (or just over $35 for a $10,000 loan), will be added to your loan amount if your loan request is approved and funded. Stamp tax is NOT included when determining loan interest rate.
. The tax amount is not included in the quoted APR.
It's easy to find your rate.
The LightStream experience
Learn more about how LightStream loans can be used to finance:
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Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. At least 21% of approved applicants applying for the lowest rate qualified for the lowest rate available based on data from 1/01/2021 to 3/31/2021. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice.
Maximum APR for a LightStream loan is .
1
The LightStream Debt Consolidation Survey was conducted by Wakefield Research among 1,000 nationally representative U.S. adults ages 18+, between Aug. 9 and Aug. 15, 2019, using an email invitation and an online survey.
2
You can fund your loan today if today is a banking business day, your application is approved, and you complete the following steps by 2:30 p.m. Eastern time: (1) review and electronically sign your loan agreement; (2) provide us with your funding preferences and relevant banking information; and (3) complete the final verification process.
3
Calculation based on a three-year LightStream loan with the lowest available rate of 5.95% APR. Your APR may differ based on loan purpose, amount, term, and your credit profile. Rate is quoted with AutoPay repayment discount, which is only available when you select AutoPay prior to loan funding. Rates under the invoicing option are 0.50% higher. These rates and terms are current as of September 12, 2019. Payment Example: Monthly payments for a $19,833 loan at 5.95% APR with a term of three years would result in 36 monthly payments of $602.91.
4
Credit card calculation assumes a three-year repayment of a $19,833 credit card balance with an interest rate of 20.23% APR. This APR is the average credit card interest rate charged after the introductory period ends. Source: Mintel, July 2019.