Debt consolidation is the process of combining multiple debts into one new loan. This new loan and its interest rate replace the original debts. Our debt consolidation loans give borrowers peace of mind by providing one affordably low monthly payment that’s easy to manage.
Personal debt consolidation loans may impact your personal credit during the initial credit inquiry that the lender performs following your application or before funding. In any case, if you keep up with your monthly payments, you could build up your credit over time.
At BHG Money, your credit score will not be impacted during the application process.3
Typically, debt consolidation loans will stay on your credit report for seven years. As long as the account is reported to the credit bureaus, it will remain on your report. However, at BHG Money, we don't report loan accounts to the credit bureaus. This allows you to take on more credit if needed.
The amount you can save with a debt consolidation loan varies based on multiple factors, including the interest rate(s) of the debt you are consolidating and the new interest rate you receive with the debt consolidation loan. The timeliness of your loan repayment can also contribute to potential savings.
No application fees, commitment, or impact on personal credit to estimate your payment.
Personal loans not currently available in Illinois or Maryland
1Loan sizes, interest rates, and loan terms vary and are determined by applicant's credit profile. Finance amount may vary depending on your state of residence. Call for complete program details.
2This is not a guaranteed offer of credit and is subject to credit approval.
3There is no impact on your credit for applying. A complete credit history, which will appear as an inquiry on your credit report, will be performed upon acceptance and funding of a loan.
Consumer loans funded by one or more participating lenders. Equal Housing Lenders.
Annual percentage rates (APRs) for BHG Money personal loans range from 10.49% to 29.99%, with terms from 3 to 10 years.
Personal Loan Repayment Example: A $59,755 personal loan with a 7-year term and an APR of 17.2% would require 84 monthly payments of $1,229.
For California Residents: Consumer and commercial loans made or arranged pursuant to a California Financing Law license - Number 603G493.
IMPORTANT INFORMATION ABOUT ESTABLISHING A NEW CUSTOMER RELATIONSHIP
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies every customer. What this means for you: When you apply for a loan, we will ask for your name, address, date of birth, social security number and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. If all required documentation is not provided, we may be unable to establish a customer relationship with you.