Bad Credit Debt Consolidation

Are you struggling with bad credit and unaffordable monthly payments? Maybe your credit card interest rates are too high? Did you consider a bad credit debt consolidation loan? Debt consolidation loans simplify your payment schedule, help you get rid of debt and improve your credit. If you can't qualify for a personal loan, then consider other debt consolidation options.

Get A Bad Credit Debt Consolidation Loan Quote

Are you thinking about consolidating your debt? Not sure if you qualify for a bad credit debt consolidation loan? Bills.com makes it easy to shop for a bill consolidation personal loan. Start by filling in your credit score, zip code, loan purpose, and the amount of loan you need. Check out different offers and click on the appropriate ones.

 

Should You Take a Bad Credit Debt Consolidation Loan?

It is common for people overwhelmed with debt to think that if they could borrow enough to pay everything off they would have a fresh start and be able to take control of their finances. The catch is that many people who are struggling with debt have bad credit, which makes it hard to qualify for a debt consolidation loan. Here are two pros and one con:

Pro: Your financial situation is improving, and you can afford the payments.

Pro: You qualify for a lower interest rate than your current credit card debt.

Con: Your financial situation is improving, and you can afford the payments.

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How to Consolidate Bad Credit Debt
  1. Step 1: Set a Goal: Get Out of the Bad Credit Debt Cycle
    Put your goal in writing. Make a committment to get out of debt.
  2. Step 2: Set Up a Workable Budget
    Control your spending, increase your income, and watch your budget.
  3. Step 3: Debt Consolidation Loans - Shop for Best Terms
    Check out the Personal Loan Rate Table for a bad credit debt consolidaiton loan offer.
  4. Step 4: Look at Other Debt Consolidation Alternatives
    If a loan doesn't work for you, check out Bills.com Debt Navigator for more options.
  5. Step 5: How to Consolidate Bad Credit Debt? – Perseverance
    To make your plan work, stick to it. Be patient and chip away at your debt and slowly improve your credit
Find a Bad Credit Debt Consolidation Lender

Shopping for a bad credit debt consolidation loan is frustrating, and can even be dangerous. It is easy to get frustrated when one lender after another turns you down. If you speak with traditional lenders, such as banks or credit unions, you will find out that you need good credit to get an unsecured personal loan and excellent credit to get a low-interest personal loan excellent credit. You will find out the same thing if you speak peer-to-peer lenders or online lenders that service the prime customer.

Protect Yourself and Don't Get Scammed

Don’t get scammed! If you are desperate for a loan and are getting turned down repeatedly, you may be lured by an ad you see that says “Bad Credit Debt Consolidation Loans. No one is turned down.” There is no such thing as a lender who makes loans to everyone. No one is an easier victim to scam than someone who needs something desperately. The most common scam is charging a fee for your application. Never pay a fee in advance for a loan. The fee will be taken and you won’t get the loan.

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Bad Credit Debt Consolidation

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