ive got about $18,000 in credit card debt spread across three cards, all with interest rates over 24%. ive been treading water for a year, making payments but the balance barely moves. i think a personal loan for debt consolidation is my only way out, but the whole process makes me anxious. i want to get my plan in place for 2026.
when i search for best personal loans 2026, i just get pre approval ads and sites that seem more like lead generators. i need to know the real strategy. my credit score is 710, and i have a stable job. im worried about hidden fees, variable rates, and just picking a predatory lender.
for people who successfully used a personal loan to consolidate:
where did you find your loan? a direct lender, a credit union, or an online marketplace?
what was the single most important factor in your decision (apr, term, fees)?
how did you ensure you didnt run the credit cards back up after paying them off?
whats a trap or fine print i should absolutely look out for?
for a 2026 loan, when should i start shopping for the best rate?
i want to use this tool correctly to save money and get free, not dig a deeper hole. any practical advice is appreciated.
questions to ask when shopping for the best personal loans for a 2026 consolidation, i need to consolidate my high interest debt
byu/DeoshriKallelil inpersonalfinance
Posted by DeoshriKallelil
1 Comment
It’s math. You need to increase your income and decrease your spending, and stick to your budget, and throw more at the debt each month. Paying minimums gets you nowhere. Getting apr reduced can help you. Consolidation does not, unless the rate drops. 0%/5% BT offer can buy you the most runway if you can qualify, but *only* if you increase the income, decrease the spending, and use that runway to pay more towards the debt.
Personal loans are risky, with no collateral, and thus high rates. Talk to your bank and see what they offer you, if that’s really what you want to pursue.
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