Texas Tech University

Debt Consolidation Loan Offers

September 19, 2022

WALLET HUB - WalletHub makes it easy to get the best debt consolidation loan.

A debt consolidation loan is a personal loan used to pay off multiple other debts. The borrower uses the lump sum from the personal loan to make payments to their other lenders, turning multiple balances into one owed to the personal loan provider. Ideally, a debt consolidation loan should have a lower interest rate than the original debts. WalletHub's editors picked out some good options in several categories from among WalletHub's partners to help you start your search for a debt consolidation loan.


Ask the Expert

Joshua Coyne, Ph.D. – Visiting Assistant Professor, Rawls College of Business, Texas Tech University

  • What advice do you have for someone who is considering taking out a debt consolidation loan?

Coyne encourages explore all the pros and cons, and he explains why here.