Fast Loan Advance Debt Consolidation: Many Bills, One Payment
Roll several balances into one loan with one fixed rate, one due date and a clear payoff date.
- Borrow $1,000 to $5,000
- Checking your rate won't affect your credit score
- Funds as soon as the next business day
Fact-checked by the Fast Loan Advance Editorial Team. Updated October 17, 2026.
What is a debt consolidation loan?
A debt consolidation loan pays off several existing balances, leaving you with a single loan and a single monthly payment. It works like a personal loan: fixed rate, fixed payment and a set payoff date.
Consolidation saves money when your new APR is lower than the average rate on the debts you're replacing. Even when the savings are small, one predictable payment makes it easier to stay on track.
Pros and things to know
Why borrowers choose it
- One payment and one due date
- Fixed rate instead of variable card APRs
- Clear payoff date
- Can lower credit utilization
Good to know
- Only saves money if your new APR is lower
- Longer terms can raise total interest
- Running balances back up undoes the benefit
What a debt consolidation loan costs
Representative examples, each including a 5% origination fee added to the loan balance.
| Example | $2,000 | $3,500 | $5,000 |
|---|---|---|---|
| APR | 19.99% | 15.99% | 12.99% |
| Term | 24 months | 36 months | 48 months |
| Origination fee | $100.00 | $175.00 | $250.00 |
| Monthly payment | $106.87 | $129.18 | $140.82 |
| Total of payments | $2,564.90 | $4,650.62 | $6,759.28 |
Examples are for illustration. Your APR, fees and term depend on your credit, income and state, and appear in your loan agreement before you sign.
Debt Consolidation payment calculator
Adjust the amount, term and APR to estimate your monthly payment.
Estimates exclude origination fees.
- Number of payments
- 36
- Total interest
- $929.16
- Total repaid
- $4,429.16
How it compares
| Feature | Consolidation loan | Balance transfer card | Debt settlement |
|---|---|---|---|
| Rate | Fixed, 5.99% to 35.99% | 0% intro, then 20%+ | Not a loan |
| Fees | Possible origination fee | 3% to 5% transfer fee | Often 15% to 25% of debt |
| Credit impact | Can help over time | Can help | Usually hurts |
| Payoff date | Fixed | None | Varies |
Typical industry figures for comparison. Related guide: Is Fast Loan Advance legit? What to know before you apply.
How to get a debt consolidation loan
- Check your optionsComplete the 2-minute request. It uses a soft credit check.
- Review your offerSee your APR, payment and total cost before you commit.
- Get your fundsSign online and receive money as soon as the next business day.
Debt Consolidation FAQ
What debts can I consolidate with Fast Loan Advance?
Credit cards, store cards, medical bills, payday loans, other personal loans and utility or service bills.
How much can I consolidate?
Debt consolidation loans range from $1,000 to $5,000.
Will debt consolidation hurt my credit?
Checking your options won't. Over time, paying down revolving balances and making on-time payments can help your score.
Does consolidation always save money?
Not always. It saves money when your new APR is lower than the average rate you're paying now. Compare before you accept an offer.
How long is the repayment term?
Debt consolidation terms run from 12 to 48 months.
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Requests are free and checking your rate won't affect your credit score.