Payoff Debt Consolidation Loans Review | Debt Consolidation Loans For Poor Credit

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Hey there, if you are looking for a debt consolidation loan or credit card consolidation loan then you are in right place. 
In this article, we are going to review Payoff Loans
Payoff Company offers personal loans specifically for any debt consolidation it might be credit card consolidation.

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Payoff Overview

The payoff is a California-based financial wellness company which parent company is happy money. Pay off of is not a bank but it works with lenders who originate the loans.

Also read: Best Instant Approval Payday Loans with Bad Credit | Moneymutual Payday Loan Review


  •  Loan amount starting from $5,000 – $40,000
  • Soft Credit Check is done by payoff to check interest rate.
  • You will get competative interest rates.
  • Payoff requires Fairly low credit score needed: 600.{alertSuccess}

  • Payoff do Charges a originaiton fees 
  • Provide loan for only Debt Consolidation. {alertError}

Debt Consolidation Loans For Poor Credit

The Payoff Credit card debt consolidation loans are for fair or poor credit people. Those who have a 550 credit score can also apply and see whether they are approved or not. 
The loan amount Payoff gives is between $5,000 – $40,000. 

Annual Interest Rate (APR) and Fees

The APR for this Payoff credit card debt consolidation loan is very low compared to other loans in the market.

The APR (annual percentage rate)  will be within the range of  5.99% to 24.99%. which is very low compared to Best egg credit card consolidation loans

Payoff loans offer a minimum APR of 6.99% for the loan of more than $15,000.

As for the fees, the company charges no application check, processing, return check, annual, prepayment, or late fees but borrowers have to pay the origination fee which is 5% of the loan amount.

Also read: Best No Credit Check Payday Loans Guaranteed Approval | Review

Minimum Credit Score Required

As per Payoff customer reviews, the credits score you will be required to get a debt consolidation loan is a minimum FICO credit score of 600.

Also read: Prosper Personal Loan Review 2021 | Prospa loans review

Offered Loan Amount

The payoff can offer you a personal debt consolidation loan amount between $5,000 – $40,000. 

The loan amount will be decided based on your credit score and how much money you will be able to approve for this credit card debt consolidation loan.

The minimum loan amount and APR may vary in certain States as per Payoff rules and regulations.

Eligibility Criteria 

There are some basic requirements you should fulfill before taking a bad credit loan. Here is the list :
  1. You should be at least 18 years old
  2. You must a valid ID Proof or social Security number
  3. You must be a United States citizen or a permanent resident. 
  4. You must have a valid active us bank checking account
  5. You have to provide a valid email address and a phone number

Required Documents

  • Valid Identity Proof.
  • Have to provide a DOB.
  • Valid current mobile number and Email id.
  • An active American bank account.
  •  A social security number

Repayments Terms

At Payoff, you’ll get the repayment term of 24 months to 60 months which is 2 years to 5 years.

How to apply for Payoff

If you want to apply for Payoff then please follow below guide :

  1. There are only four steps for applying to pay off the personal loan.
  2. First of all, you have to go to their payoff website and there you have to answer some basic questions regarding loans to pre-qualify for the loan which does not affect your credit score.
  3. Next, you will have to select the loan term amount which is best for you and finish your application.
  4. Then you have to review your terms and condition, verify your information, and electronically sign your loan documents.
  5. Please read all the documents carefully of what APR is they offering? what is the loan payback period, and only then sign the documents.
  6. After that payoff will perform a hard check on your credit right before your loan is finalized.
  7. Then you will receive your loan amount in your bank account within 3 to 4 business days.
The payoff is a website that helps people to get a debt consolidation personal loan, to sum up their all Loans in one place. 
They offer credit card Consolidation loans within $5,000 to $40,000. 
So if you are looking for a credit card debt consolidation loan then payoff might be the best option for you.
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