Debt consolidation prequalification
Know what prequalification means before you apply.
Prequalification is an early look at whether you meet a lender's basic requirements. It isn't approval.
Bivo is a free credit-insights service. It shows you your balances, utilization and payment history from your own Equifax report, so you can see what's realistic before you apply anywhere.
Soft credit check only. No impact on your credit score
Bivo helps you plan and doesn't sell loans.
Bivo is a free credit-insights service. We pull your Equifax report with a soft inquiry, explain every factor in plain English, and build you a personalized plan to reach your credit goals.
When balances are spread across several accounts, some people consider combining them into a single payment. Your Bivo report shows those balances and your utilization in one place, so you can judge whether exploring consolidation makes sense.
Bivo is not a lender and never issues loans. Offers, rates, and applications live with the lender. Whether you continue is entirely up to you. Nothing happens without your say-so.
There are four steps from checking your credit to applying.
What lenders look at
Your Bivo report covers two of these. A lender asks you for the rest.
Credit score & history
This is your score and how consistently you've paid in the past. A stronger score generally means better options.
In your Bivo report
Debt-to-income ratio
This compares your monthly debt payments to your income. A lower ratio signals room in your budget for a consolidated payment.
You'd share this with a lender
Income & employment
Steady income matters as much as your score. Strong earnings can offset a borderline score.
You'd share this with a lender
Balances & utilization
This is the size and mix of the balances you'd consolidate. It shapes which consolidation options make sense for your situation.
In your Bivo report
Prequalified does not mean approved yet.
Prequalification shows you what's realistic. The offers, terms, and final decision come later with the lender, and the choice to continue is always yours.
Prequalification
It's a soft check with no commitment.
- Soft credit check with zero impact on your score
- Based on your credit profile
- Shows whether you're likely to meet basic requirements
- Never obligates you to apply for anything
Offers and the application happen with the lender
This is a separate step. It only happens if you choose to continue.
- Actual rates, terms, and loan amounts are presented
- Income and documents are verified
- A hard credit check may be performed
- The approval decision is made by the lender
Prequalification questions
Here's what people ask before they check where they stand.
No. Your Bivo report uses a soft credit pull, which never affects your score. A hard inquiry can only happen later, if you choose to formally apply for a specific offer.
It means that based on your credit profile, you meet an offer's basic requirements and are likely to be approved. Approval isn't guaranteed. Your information is still verified during the formal application before any final decision.
No. Bivo is a free credit-insights service. It does not issue loans or make credit decisions. The offers themselves always come from lenders, and you decide whether to continue.
You can review the actual rates, terms, and monthly payments. If one fits, you apply with the lender. That is when documents are verified and a hard credit check may happen. You can also do nothing. Prequalification never obligates you.
No. Like everything in Bivo, checking where you stand is completely free.
See where you stand
Get your free Equifax report from a soft pull and see your balances and utilization in plain English.
Bivo is not a lender and does not make credit decisions. Prequalification is based on a soft credit inquiry, does not affect your credit score, and is not an offer of credit or a guarantee of approval. Final rates, terms, and approval are determined by the lender after a formal application, which may involve a hard credit inquiry.