Achieve Logo Achieve Logo
‌
Linkedin
Facebook
Twitter

Resolve Debt

What is an acceleration loan?

Dec 06, 2024

Linkedin
Facebook
Twitter
Natasha-Pearce.jpg

Written by

Natasha Pearce

You've been working hard, chipping away at your debt, and making smart financial moves—like getting started in a debt resolution program. Now, an acceleration loan could be the turbo boost you need to resolve your debt fast—so you can focus on your next financial goal.

An acceleration loan is a special type of loan designed to help people who've already rolled up their sleeves and started tackling their debts in earnest through debt resolution. If you’re in good standing in your resolution program, you may qualify for an acceleration loan.

Author Information

Natasha-Pearce.jpg

Written by

Natasha Pearce

Natasha is Achieve’s Director of Social and Community. For over 10 years, she has built communities across social media and blogs through enriching storytelling that helps brands deepen connections with consumers.

Resolve Debt

Resolve Debt

Linkedin
Facebook
Twitter

Related Articles

how-to-pay-off-credit-card-debt.jpg

Resolve Debt

5 ways to pay off credit card debt

While there is no one best way to pay off credit card debt, learn how you can prepare your finances, Depending on your financial situation choose between four ways to

Rebecca Lake
medical-debt-forgiveness.jpg

Resolve Debt

Can I get medical debt lowered or forgiven?

Medical debt is common and you may wonder if it can be forgiven. However, medical debt doesn't affect your credit the same way as other debt. You might be able to get your medical debt forgiven or resolved.

Jackie Lam

Jackie Lam

Author

rsz_credit_card_forgiveness.jpg

Resolve Debt

Credit card debt forgiveness: Is it possible?

Credit card debt forgiveness is possible through credit card hardship programs, debt resolution programs, and bankruptcy. Learn how you can pay less.

Kimberly Rotter
how-to-pay-off-credit-card-debt.jpg

Resolve Debt

5 ways to pay off credit card debt

While there is no one best way to pay off credit card debt, learn how you can prepare your finances, Depending on your financial situation choose between four ways to

Rebecca Lake
medical-debt-forgiveness.jpg

Resolve Debt

Can I get medical debt lowered or forgiven?

Medical debt is common and you may wonder if it can be forgiven. However, medical debt doesn't affect your credit the same way as other debt. You might be able to get your medical debt forgiven or resolved.

Jackie Lam

Jackie Lam

Author

rsz_credit_card_forgiveness.jpg

Resolve Debt

Credit card debt forgiveness: Is it possible?

Credit card debt forgiveness is possible through credit card hardship programs, debt resolution programs, and bankruptcy. Learn how you can pay less.

Kimberly Rotter
Achieve Logomark

Achieve is the leader in digital personal finance, built to help everyday people move forward on the path to a better financial future.

Footer Trust Pilot Marker

TrustScore 4.8/5

Footer Housing Marker

.

Footer BBB Marker

.

Financial solutions are offered by affiliates of Achieve.com (NMLS ID #138464) or their service providers. Terms and conditions apply. Not all solutions are available in each state.

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, Equal Housing Lender. Loan applications are subject to credit review, underwriting criteria, and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. For loans $35,000+ must have a minimum 660 credit score. APRs range from 8.99% to 29.99% and include applicable origination fees that vary from 1.99% to 8.99%. Repayment periods range from 24 to 60 months. Example loan: four-year $20,000 loan with an origination fee of 8.99%, a rate of 15.49%, and corresponding APR of 20.77%, would have an estimated monthly payment of $561.60 and a total cost of $26,966.26. 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. Loan Consultants for Achieve Personal Loans are available Monday-Friday 6 AM to 8 PM AZ time, and Saturday-Sunday 7 AM to 5 PM AZ time.

Home Equity loans are available through our affiliate Achieve Loans (NMLS ID #1810501). Offers may vary and all loan requests are subject to eligibility requirements, application review, loan amount, loan term, and lender approval. Product terms are subject to change at any time. Offers 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 $300,000 and are assigned based on product type, debt-to-income ratio, and combined loan-to-value ratio. Minimum 600 credit score applies for debt consolidation requests, minimum 700 applies for cash out requests. Other terms, conditions and restrictions apply. Fixed rate APRs range from 8.75% - 14.75% and are assigned based on underwriting requirements; offer APRs include a .50% discount for automatic payment enrollment (autopay enrollment is not a condition of loan approval). Example: average HELOC is $57,150 with an APR of 12.75% and estimated monthly payment of $951 for a 15-year loan. 10, 15, 20, and 30-year terms available (20 and 30 year terms only available for cash out requests). All terms have a 5-year draw period with the remaining term being a no 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 typically include origination (3.5% of line amount) and underwriting ($725) fees if allowed by law. Property must be owner-occupied and combined loan-to-value ratio may not exceed 80%, including the new loan request. Property insurance is required and flood insurance may be required if the subject property is located in a flood zone. You must pledge your home as collateral. 10-day funding: Average funding is 10 to 12 business days from completed loan application and documentation submission and includes closing and rescission. Monthly/yearly savings claim is based on average monthly debt savings from originated loans for Q4 2024. Monthly/yearly savings varies based on each loan situation and can be more or less than $800/$10,000. 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 3.50%, 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.

 

Paid advertisement, not a real member testimonial. Individual results will vary.

© 2025 Achieve.com. All rights reserved. NMLS #138464