Debt consolidation loans in Florida: your options and the rules that protect you

Your 4 options in Florida, at a glance

• Florida credit union or bank: start here if you qualify for membership. Banks and credit unions sit outside Chapter 516.
• Online lender: a quick way to see a spread of rates, and the place where Florida's license check matters most.
• Credit counseling plan: no new loan, and Florida caps the fees an agency can charge.
• Balance transfer card: strongest when your credit is good and your payoff window is short.

How debt consolidation works

You swap several card balances for a single installment loan with one rate and one end date. The swap pays off only when the loan's APR, with any fee counted, beats your current rates and you keep the old cards at zero. For the full walkthrough, read what debt consolidation is and how it works, or put your own numbers into our Should I consolidate? calculator.

Option 1: Florida credit unions and banks

Florida credit unions rank near the top of local results for this search. Lendifi is not paid by any institution below; they are real options to check.

• Florida Credit Union (Gainesville) lists debt consolidation among its personal loans.
• Floridacentral Credit Union has a debt consolidation loan page.
• Members First Credit Union of Florida lists a debt consolidation loan on its rates page.
• VyStar Credit Union (Jacksonville) offers personal loans.

We do not quote rates, because we only publish one copied from the lender's own page on the day we update this guide. Check APR, fees, and membership rules directly. One rule applies to every federal credit union: the NCUA Board extended a temporary 18% interest rate ceiling on federal credit union loans to September 10, 2027 (NCUA). State-chartered credit unions follow state rules. Find more with the federal credit union locator.

On every Florida quote, get four answers in writing: the APR with fees, whether a fee is deducted from what you receive, whether a prepayment penalty applies, and whether payoff goes straight to your card issuers.

Option 2: online lenders through a comparison

Lendifi is a comparison service, not a lender. When you use our form, your request may be passed to a lending partner, and we may be paid by that partner. You are not obligated to accept anything. We cannot promise an offer or approval, and any offer comes with terms set by the lender. You can read how we make money and our editorial policy.

Run the OFR license check below on any online offer above 18%, then compare offers with our guide to comparing personal loan offers. See also our personal loans page and debt consolidation loans page.

Option 3: a nonprofit debt management plan

With a debt management plan (DMP), you borrow nothing. The agency asks your card issuers for concessions, collects one monthly deposit from you, and forwards it. Cards in the plan are normally closed.

Florida law limits what these agencies can charge. Section 817.802 caps the initial setup or consultation fee at $50. After that, an agency may charge up to $120 a year for additional consultations or, if it runs a debt management plan, the lesser of 15% of your monthly payment or $75 a month. On a $400 monthly plan payment, that is at most $60. On $600 or more, it is $75.

Agencies must also forward your payments to creditors within 30 days, hold them in a separate trust account (Section 817.805), and make an annual CPA audit available for public inspection (Section 817.804). A consumer hurt by a violation can sue for damages of no less than what they paid the agency (Section 817.806).

To find an agency, try the NFCC member directory or the U.S. Trustee Program's approved agency list, which covers pre-bankruptcy counseling and is not an endorsement of a plan. Get the fee schedule in writing and compare it to the Florida caps. For the difference between a DMP and debt settlement, see debt consolidation vs. debt settlement.

Option 4: a balance transfer card

A card with a 0% intro period can be the cheapest route, but only if the full balance is gone before the promo ends and the transfer fee costs less than the interest you avoid. Compare the two in debt consolidation vs. balance transfer.

Florida rules that matter to you

18% is the general line for smaller loans. Section 516.02 says a person in the business of making loans may not charge more than 18% a year on a loan of $25,000 or less, except as authorized by Chapter 516 or other statutes. Florida's general usury law also uses 18% simple interest for most loans up to $500,000 (Section 687.03).

Licensed consumer finance companies can charge more, on a capped scale. The OFR says a Consumer Finance Company license lets the holder make consumer loans of up to $25,000 at an interest rate greater than 18%, and that banks and certain other financial institutions do not need it (OFR). For licensees, Section 516.031 caps interest at 36% a year on the first $10,000 of principal, 30% on the part from $10,000 to $20,000, and 24% on the part from $20,000 to $25,000, computed as simple interest. Other charges are barred beyond a few listed items, such as up to $25 for a credit investigation.

The cap is a ceiling, not a price. On a $5,000 loan for 36 months, the top 36% rate means a payment of $229.02 and $3,244.72 of interest. At 18%, the payment is $180.76 and interest is $1,507.36. Comparing saves $1,737.36 on that one loan.

Above the legal limits, it can be a crime. Unless a law specifically allows it, willfully charging more than 25% a year is a misdemeanor and more than 45% is a felony (Section 687.071).

Loan brokers cannot take advance fees. Florida bars a loan broker from assessing or collecting an advance fee from a borrower (Section 687.141).

This is general information, not legal advice. For questions about a consumer finance company, the OFR lists 850-410-9895 for its Division of Consumer Finance (OFR).

How to check a lender in Florida

1. Go to the OFR's Verify a License page.
2. Choose Consumer Finance Companies. It opens the OFR's REAL system, where you search by company name.
3. Check that the license is active and the name and address match.
4. Banks are on FDIC BankFind and credit unions on the NCUA locator; the OFR page links both.
5. If the lender lists an NMLS ID, you can also search it on NMLS Consumer Access.
6. If you cannot find a non-bank lender charging more than 18%, ask how it is authorized in Florida and call the OFR if the answer is unclear.

What to avoid in Florida

The OFR licenses title loan companies separately under Chapter 537 (OFR). Title loans and payday loans are poor tools for consolidating debt. Also be wary of:

• Any company that wants a fee before you get a loan. In Florida, a loan broker may not collect one.
• A credit counselor whose fees exceed the Florida caps above.
• A lender that rushes you to sign before you can run the license check.

See personal loan scams and red flags for more.

A note from our founder

I did not borrow in Florida, and nothing here comes from my own loan. This guide is built from Florida statutes and OFR pages. What I can share is this: when I was clearing about $10,000 of credit card debt, I walked away from lenders whose sales pressure felt aggressive.

So in Florida, my advice is simple: get a credit union quote and at least one more offer, and let total cost decide. Other states: Texas and Utah.

Sources

• Florida Statutes (2026), Section 516.02 (license; 18% limit on loans of $25,000 or less; bank and credit union exemption) and Section 516.031 (maximum rates; other charges). Accessed October 13, 2026.
• Florida Statutes (2026), Section 687.03 (usury), Section 687.071 (criminal usury), Section 687.14 and Section 687.141 (loan brokers; advance fees). Accessed October 13, 2026.
• Florida Statutes (2026), Section 817.802 (fee limits), 817.803 (exceptions), 817.804 (audit and insurance), 817.805 (disbursement), 817.806 (violations). Accessed October 13, 2026.
• Florida Office of Financial Regulation, Consumer Finance Companies and Division of Consumer Finance. Accessed October 13, 2026.
• OFR, Verify a License, the REAL system, and Online Services (Division of Consumer Finance phone 850-410-9895). Accessed October 13, 2026.
• National Credit Union Administration, NCUA Board Extends Loan Interest Rate Ceiling, February 6, 2026, and Credit Union Locator.
• FDIC BankFind; NMLS Consumer Access; National Foundation for Credit Counseling; U.S. Trustee Program, approved credit counseling agencies.

Reviewed by the Lendifi Editorial Team. Updated October 13, 2026.

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