DEBT CONSOLIDATION

Take back your life from debt

Consolidate your debt with loans or debt resolution to simplify your bills—and your life.

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TrustScore 4.8 / 5

$19 Billion+

in debt resolved1

$11 Billion+

in loans to members

Why consolidate debt

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Combine bills into 1 easy payment2

Simplify multiple debts and payment dates with 1 fixed monthly payment.

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Pay down debt faster

Get rid of debt sooner than paying minimums on high-interest debts.

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Customize payment plans

Plan your terms, receive potential discounts, monthly savings, and more.

3 solutions to help consolidate your debt

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Personal loans plan (example)

Monthly payment

$562

Loan amount

$20,000

APR

19.54%

Pay down debt sooner

4 years 🙌

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Home loans plan (example)

Monthly payment

$951

Loan amount

$57,150

Term length

15 Years

Est. total savings

$10,000 avg 🙌

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Debt resolution plan (example)

Est. program deposit

$334/mo

Est. total enrolled debt

$25,288

Est. program cost (includes fees)

$17,218

Est. program savings

$8,069 🙌

Member Voices

Consolidating debt

“My initial goal was to consolidate some high-interest credit cards and loans into one payment and to save interest, which I did. I mean, it was incredible!”

— Jeremy R., Achieve member, home equity loan

“Our loan enabled us to consolidate debt into a lower interest, single payment to help bring our debt under control…It made me feel like I wasn’t alone and that other people were dealing with similar things.”

— Leah M., Achieve member, personal loan

"Graduating from the program was a very up moment in life. My debt was gone.

— Kevin C., Achieve member, debt resolution

*Actual members. Members’ endorsement is a paid testimonial. Individual results are not typical and will vary.

Consolidate debt your way

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Pay down your debts faster

Get rid of debt faster than making minimum payments.

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Customized payment plan

Get in control of monthly payments, payment date, terms, and more.

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Fixed monthly payments

Your payments will stay the same so there are no surprises.

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Make debt paydown easy

Get support and guidance throughout the debt resolution process.

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Good credit not required

Qualify for loan options with fair credit. You don’t need good credit to be eligible for resolution.

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Personalized help

Get answers and help from expert consultants who care about your financial future.

Debt Consolidation articles

View all debt consolidation articles

DEBT CONSOLIDATION BASICS

How does debt consolidation through Achieve work?

What is debt consolidation?

Debt consolidation combines multiple debts into a single payment—so you don’t have to juggle multiple bills, interest rates, and payment dates. That means you can better manage your finances and worry less about missing payments.


How do I consolidate debt through Achieve?

You can consolidate your debts by applying for a consolidation loan. Or if a loan isn’t right for you, an alternative can be enrolling your credit card debt with Achieve Resolution to simplify your debts into one affordable payment.

 

Debt consolidation loans can reduce your monthly payments and can lower your interest rates compared to high-interest credit card debts.

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Personal loans: Amounts range from $5,000 to $50,000. Our loan offers an interest rate discount if you allow us to use your loan funds to directly pay your creditors, apply with a qualified co-applicant, and tell us about your retirement savings.

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Home equity loans: Amounts range from $15,000 to $150,000 for homeowners who want to tap into their home’s equity to pay down higher debt amounts—with minimum guaranteed savings for debt consolidation.

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Debt resolution: While it’s not a consolidation loan, debt resolution simplifies your credit card debt—instead of keeping track of multiple payments every month. You can enroll several unsecured (no collateral) debts in the program totalling $7,500 to $100,000+ and then make only one affordable monthly program deposit.


How do debt consolidation loans work?

Here’s how debt consolidation works if you have a loan:

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    Apply: First, apply to see what debt consolidation option you qualify for. An Achieve consultant can help, or you can apply online on your own. Fill in the requested information so we can recommend options that fit your budget and your situation.

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    Choose your debt consolidation loan: If a loan offer is provided, select an offer for debt consolidation to simplify your debts into one payment. You can choose the best fit for you based on savings, terms, payment schedules, and more.

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    Pay down your debt: After you’re approved for your loan, you can use the funds to pay down the debt owed to your creditors. Then you’ll make monthly payments to pay off your consolidation loan through Achieve Personal Loans or Achieve Loans.


How does debt resolution work?

As an alternative to debt consolidation loans, debt resolution helps resolve your debt through negotiating and settling with your creditors for less than you owe.

Here’s how debt resolution works:

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Start with a free debt evaluation

We’ll discuss your debt, goals, and options so you can make an informed decision. We’ll come up with a debt resolution plan that works with your income and expenses.

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Make one low monthly deposit

Rather than struggling to make minimum payments to your creditors, choose to make one low recurring program deposit instead. These affordable deposits will build funds for settlements and could help you free up extra cash each month. You’ll make these deposits into a Dedicated Account in your name.

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Reduce what you owe

Once enough funds are built up in your Dedicated Account, our expert team uses their 20+ years of experience to negotiate with your creditors to settle your debt for less than you owe. Our goal is always to get you the most savings possible. Most clients get their first settlement within 90 days.

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Authorize your settlement offers

When a settlement is reached with your creditor, we send the offer to you for authorization so payments can be sent to the creditor from your Dedicated Account. Settlements for all your enrolled debts will be fully paid off by the end of your program, in as little as 2-4 years on average. You can easily track the progress of your settlements with your online dashboard.

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Get rid of your debt

Once all the debts you enrolled in the program go through these steps and are fully resolved, you’ll be free of the debt and ready to focus on your life again.


Debt consolidation: Pros & cons

It’s important to consider your options for paying down your debt and decide whether debt consolidation is right for you.

Pros

May reduce payments with lower loan rates or debt resolution

Simplify debts into 1 monthly payment

Pay down debt faster than minimum payments

Pay debt easily with fixed payments

Cons

May not qualify for lower rates

Missing payments may impact credit

Credit scores below 620 may not qualify for loans

Costs & fees with consolidation loans and resolution

Debt consolidation FAQs

Achieve makes it easy to personalize your debt consolidation offer and your payment schedule to fit your budget.

You can customize your payment plan for personal loans, home equity loans, and resolution by choosing your:

  • Terms

  • Payment date 

  • Monthly payment amount

We understand you’re more than just your credit score so that’s why we check other factors besides your score, including eligible debt and state of residence. Whether you have “bad credit” or not, we look at your whole financial picture to evaluate whether you’re eligible for debt consolidation.

Personal loan

Eligible debt: $5,000-$50,000

Credit score: 620 minimum

Homeownership: Not required

Home equity loan

Eligible debt: $15,000-$150,000

Credit score: 600 minimum

Homeownership: Required

Resolution

Resolution is not a debt consolidation loan. It’s a loan alternative that simplifies your debts into one monthly payment.

Eligible debt: $7,500-$100,000+

Credit score: You could qualify for Achieve Resolution even with bad credit

Homeownership: Not required

Check your eligibility to see which debt consolidation program is right for you. 

It’s important our members know upfront about our fees so they get the full picture of our solutions.

Debt consolidation loan fees

  • No fees for paying early. For debt consolidation loans, there are no pre-payment penalty fees.

  • Origination fees. We do include low origination fees for our personal loans that help cover the cost of processing your loan.

  • Other fees. These may include underwriting fees (where allowed by law), closing fees, late fees, and more.

Debt resolution fees

While you can simplify debt by paying one payment for all your debts for Resolution, this program does not consolidate debt like typical debt consolidation loans. Resolution works by experts negotiating your individual debt accounts to and settle your debt for less than you owe, so there are settlement fees.

  • No fees for enrollment. Your debt assessment is free and we don’t charge for enrolling in the program.

  • No upfront fees. You don’t owe us anything until you approve your settlement. 

  • Settlement fees. Resolution charges settlement fees based on your total debt enrolled. Don’t worry, our settlement fees are already built into your program deposit and are based on a percentage of your enrolled debt and state.

Daily progress toward

your debt-free goals

See where your money’s going, make a smarter debt payoff plan, and get debt-free faster with the free Achieve GOOD™ app.

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Personal loans are available through our affiliate Achieve Personal Loans (NMLS ID #227977), originated by Cross River Bank, a New Jersey State Chartered Commercial Bank and may not be available in all states. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, credit usage and history. Loans are not available to residents of all states. Minimum loan amounts vary due to state specific legal restrictions. Loan amounts generally range from $5,000 to $50,000, vary by state and are offered based on meeting underwriting conditions and loan purpose. APRs range from 8.99 to 35.99% and include applicable origination fees that vary from 1.99% to 6.99%. The origination fee is deducted from the loan proceeds. Repayment periods range from 24 to 60 months. Example loan: four-year $20,000 loan with an origination fee of 6.99%, a rate of 15.49% and corresponding APR of 19.54%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly; or showing proof of sufficient retirement savings, could help you also qualify for lower rates. Funding time periods are estimates and can vary for each loan request. Same day decisions assume a completed application with all required supporting documentation submitted early enough on a day that our offices are open. Achieve Personal Loans hours are Monday-Friday 6am-8pm MST, and Saturday-Sunday 7am-4pm MST. $6,000 savings: Average savings claim for personal loans are based on 2023 data for 2, 3, and 4-year terms on funded debt consolidation loans for $21,600. Savings will vary based on several factors, subject to credit approval and other conditions. Any savings will be reflected in the offer.

Home Equity loans are available through our affiliate Achieve Loans (NMLS ID #1810501), Equal Housing Lender. All loan and rate terms are subject to eligibility restrictions, application review, credit score, loan amount, loan term, lender approval, and credit usage and history. Home loans are a line of credit. Loans are not available to residents of all states and available loan terms/fees may vary by state where offered. Line amounts are between 15,000 and $150,000 and are assigned based on debt to income and loan to value. Example: average HELOC is $57,150 with an APR of 12.75% and estimated monthly payment of $951 for a 15-year loan. Minimum 640 credit score applies to debt consolidation requests, minimum 670 applies to cash out requests. Other conditions apply. Fixed rate APRs range from 8.75% - 15.00% and are assigned based on credit worthiness, combined loan to value, lien position and automatic payment enrollment (autopay enrollment is not a condition of loan approval). 10 and 15 year terms available. Both terms have a 5 year draw period. Payments are fully amortized during each period and determined on the outstanding principal balance each month. Closing fees range from $750 to $6,685, depending on line amount and state law requirements and generally include origination (2.5% of line amount minus fees) and underwriting ($725) fees if allowed by law. Property must be owner-occupied and combined loan to value may not exceed 80%, including the new loan request. Property insurance is required as a condition of the loan and flood insurance may be required if the subject property is located in a flood zone. You must pledge your home as collateral and could lose your home if you fail to repay. Contact Achieve Loans for further details.

Affiliated Business Arrangement Disclosure: Achieve.com (NMLS #138464) and Achieve Loans are both wholly owned subsidiaries of Achieve Company. Because of this relationship, your referral to Achieve Loans may provide Achieve.com a financial or other benefit. Where permitted by applicable state law, Achieve Loans charges: 1) an origination fee of 2.50%, and 2) an underwriting fee of $725. You are NOT required to use Achieve Loans for a home equity line of credit. Please click here for the full Affiliated Business Arrangement disclosure form.

Resolution is available through our affiliate Achieve Resolution (NMLS ID # 1248929). All estimates for Achieve Resolution’s services are based on prior results, which will vary depending on your specific enrolled creditors and your individual program terms. Not all Achieve Resolution clients are able to complete their program for various reasons, including their ability to save sufficient funds. Achieve Resolution does not guarantee that your debts will be resolved for a specific amount or percentage or within a specific period of time. Achieve Resolution does not assume your debts, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Achieve Resolution’s services are not available in all states, including New Jersey, and their fees may vary from state to state. Please contact a tax professional to discuss potential tax consequences of less than full balance debt resolution. Read and understand all program materials prior to enrollment. The use of Achieve Resolution services will likely adversely affect your creditworthiness, may result in you being subject to collections or being sued by creditors or collectors and may increase the outstanding balances of your enrolled accounts due to the accrual of fees and interest. However, negotiated settlements Achieve Resolution obtained on your behalf resolve the entire account, including all accrued fees and interest. C.P.D. Reg. No. T.S.12-03825. The program guarantee means that if your total program cost and fees are more than the amount of debt you enroll, you can get a refund of the difference, up to 100% of collected fees. Limitations apply.

1. Statistics reflect the results of the members we and our affiliates have served since 2002 (as of Jun 2024).

2. Not all debts can be consolidated, such as student loans, auto loans, etc.

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