Best Debt Consolidation Loans in Kansas 2024

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Updated: November 19, 2024

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Debt consolidation loans are unsecured personal loans used to pay off debts, including credit card debt and student loans — at a lower interest rate than what you're currently paying.

MoneyGeek analyzed 24 lenders and found PenFed to be the top choice for debt consolidation loans in Kansas, scoring 96 out of 100. Although PenFed stands out in our analysis, you may also want to contact local lending options like CommunityAmerica Credit Union and Kansas State Bank to see if they fit your borrowing needs.

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2024

Best Debt Consolidation Loans in Kansas

Best Overall - PenFed
Runner-Up - Alliant Credit Union
Best for Affordability - Wells Fargo
Best for Large Loans - PNC
Best for Fast Funding - Rocket Loans

Overall Best Debt Consolidation Loan Lender in Kansas

Company logo for PenFed
PenFed
MoneyGeek Score:
96/ of 100
APR Range8.99% to 17.99%
Loan Amount RangeUp to $50,000
Repayment TermsUp to 60 months
Time to Receive Funds1 to 2 Business Days
Overview

PenFed offers the best debt consolidation loan in Kansas with a MoneyGeek score of 96 out of 100. Its competitive rates, loan terms, quick fund disbursement, quality of service and its reputation make it an ideal lender.

PenFed's APR range of 8.99% to 17.99% can benefit borrowers by offering lower interest rates compared to credit cards. Its loan amount range of up to $50,000 provides flexibility for consolidating various levels of debt. Additionally, the quick disbursement time of 1 to 2 business days ensures that borrowers can address their financial needs promptly.

Runner-Up for Best Debt Consolidation Loan in Kansas

Company logo for Alliant Credit Union
Alliant Credit Union
MoneyGeek Score:
96/ of 100
APR RangeFrom 10.49%
Loan Amount Range$1,000 to $100,​​​​​000
Repayment Terms12 to 60 months
Time to Receive FundsSame Day
Overview

Alliant Credit Union is another solid option for a debt consolidation loan in Kansas, with a MoneyGeek score of 96 out of 100.

It offers a low APR starting from 10.49%, which can significantly reduce the overall interest paid on consolidated debt. Its flexible repayment terms allow borrowers to choose a plan that fits their budget, making it easier to manage monthly payments. Additionally, its quick fund disbursement can help borrowers pay off high-interest debts faster, providing immediate financial relief.

Best Debt Consolidation Loan in Kansas for Affordability

Company logo for Wells Fargo
Wells Fargo
MoneyGeek Score:
94/ of 100
APR Range7.49% to 24.99%
Loan Amount Range$3,000 to $100,000
Repayment Terms12 to 84 months
Time to Receive Funds1 to 3 Business Days
Overview

Wells Fargo offers the best debt consolidation loan in Kansas for borrowers who prioritize affordability, with a MoneyGeek score of 94 out of 100. Its APR ranges from 7.49% to 24.99%.

Wells Fargo also has no origination fees, which means you won't have to pay extra just to get the loan. Additionally, rate discounts can further reduce your overall cost. For example, if you set up automatic payments, you might qualify for a lower interest rate. This can make a significant difference for someone looking to consolidate their debts while keeping costs low.

Best Debt Consolidation Loan in Kansas for Large Loan Amounts

Company logo for PNC
PNC
MoneyGeek Score:
96/ of 100
APR RangeUp to 24.99%
Loan Amount Range$1,000 to $35,000
Repayment Terms6 to 60 months
Time to Receive Funds3 Business Days
Overview

PNC offers the best debt consolidation loan in Kansas for borrowers who need a large loan amount or longer repayment terms. It has a MoneyGeek score of 96 out of 100. The loan amount range is $1,000 to $35,000, with repayment terms from 6 to 60 months.

Its flexible repayment terms can help you manage your monthly budget more effectively. And its quick funding ensures you can consolidate your debts promptly, reducing interest costs.

Best Debt Consolidation Loan in Kansas for Fast Funding

Company logo for Rocket Loans
Rocket Loans
MoneyGeek Score:
95/ of 100
APR Range9.116% to 29.99%
Loan Amount Range$2,000 to $45,000
Repayment Terms36 or 60 months
Time to Receive FundsSame Day
Overview

Rocket Loans offers the best debt consolidation loan in Kansas for borrowers who need funds quickly, with a MoneyGeek score of 95 out of 100.

Rocket Loans features a fast approval process, which means you can consolidate your debts without waiting for days. Additionally, its flexible loan terms allow you to choose a repayment plan that fits your financial situation, ensuring you can manage your payments comfortably.

Should You Get a Loan to Consolidate Debt in Kansas?

Using a debt consolidation loan in Kansas can simplify your finances by merging multiple payments into one, but it's not always the best option. If the interest rate on the new loan is higher than your current debts, it might not make sense. Consider your specific situation before deciding.

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    Good Credit

    Having good credit can qualify you for better terms on a debt consolidation loan in Kansas, affecting your interest rates and monthly payments.

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    High-Interest Debt

    If you have high-interest debt, a debt consolidation loan in Kansas can lower your interest rates. For example, reducing 20% APR to 10% APR.

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    Multiple Payments

    Managing multiple monthly payments can be challenging. A debt consolidation loan in Kansas combines them into one, making it easier to manage.

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    Lower Monthly Payments

    A debt consolidation loan in Kansas can help lower your monthly payments. For example, reducing $500 in total payments to $300.

When You Shouldn't Get a Debt Consolidation Loan

  • When your new monthly payment is higher: A higher monthly payment can strain your budget further, leading to more financial stress rather than relief.
  • When you can pay off debt in a year: If you can clear your debt within a year, a consolidation loan might not be necessary. Short-term sacrifices could save you interest.
  • When your income is unstable: Unpredictable income makes it hard to commit to fixed monthly payments. This could lead to missed payments and additional fees.
  • When your DTI ratio is high: A high debt-to-income ratio can result in loan denial or unfavorable terms. Improving your DTI before applying for a debt consolidation loan in Kansas is a better strategy.

How to Get a Debt Consolidation Loan in Kansas

The average amount of personal loan debt in Kansas is $80,961, which is lower than the overall average debt in the U.S. of $104,215. In Kansas, the average monthly debt amounts to around $6,747.

Using a personal loan to consolidate debt in Kansas can simplify your payments and potentially lower your interest rates. Going into the process unaware can lead to higher interest rates and damage your credit score. To avoid these risks, follow these steps to apply for a debt consolidation loan.

  1. 1
    Review your debts and credit score

    Account for your existing debts to see which ones to consolidate, like credit card debt. Choosing the wrong debts can lead to higher interest rates. Check your credit scores to gauge your chances of approval from lenders. Improve your credit score by paying bills on time and reducing outstanding balances.

  2. 2
    Compare loan terms from lenders

    Compare loan terms from multiple lenders and ensure you can use the loan for consolidating debts. Look at APRs, loan limits and how soon you can receive the funds.

  3. 3
    Check for extra benefits

    Some lenders offer added features that benefit you in the long run. For example, in Kansas, Laurel Road and Rocket Loans offer rate discounts.

  4. 4
    Watch out for fees and penalties

    Some lender features could be drawbacks. In Kansas, Avant charges an origination fee and a late fee. These fees can impact your short- and long-term finances.

  5. 5
    Get prequalified

    Prequalification helps borrowers understand their eligibility without affecting their credit score. It involves a soft credit check.

  6. 6
    Complete your loan application

    Complete your loan application by preparing necessary documents like proof of income, identification and bank statements. This speeds up the process.

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WHAT TO DO IF YOU'RE DENIED A DEBT CONSOLIDATION LOAN IN KANSAS

Lenders might deny your loan application due to a low credit score or a high debt-to-income ratio. Before applying for a debt consolidation loan in Kansas, check your credit report for errors and work on reducing your existing debt to improve your chances of approval.

You can also consider reaching out to credit counseling agencies like 123 Credit Counselors, Inc. or DebtHelper.com to help manage your debts better. Another option is to use a 0% APR balance transfer credit card, which allows you to transfer existing debt to a new card with no interest for a promotional period, helping you save on interest payments.

FAQ: Debt Consolidation Loans in Kansas

MoneyGeek addresses common questions borrowers have about debt consolidation loans in Kansas to help you understand how debt consolidation can simplify your finances.

What is a debt consolidation loan in Kansas?
What's the best debt consolidation loan lender in Kansas?
Can I get a debt consolidation loan in Kansas if I have bad credit?
Can a credit counseling agency in Kansas help manage debt?
When should I get a debt consolidation loan in Kansas?

MoneyGeek analyzed 24 national lenders licensed to do business in Kansas, based on a rubric that includes APR ranges, loan amounts and repayment terms, among other key areas. We use a point-based system and assign scores according to the presence or absence of desirable features in various important categories.

We score lenders differently when recommending the best for affordability, loan amounts and fast funding.

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We conducted our analysis in September 2024.

24Lenders Analyzed

About Zachary Romeo, CBCA

Zachary Romeo, CBCA headshot

Zachary Romeo is a certified Commercial Banking and Credit Analyst (CBCA), and the Head of Loans and Banking at MoneyGeek. Previously, he led production teams for some of the largest online informational resources in higher education, with over 13 years of experience in editorial production.

Romeo has a bachelor's degree in biological engineering from Cornell University. He geeks out on minimizing personal debt and helping others do the same through people-first content.

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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.

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