There are an increasing number of people who are struggling with bad credit ratings. By focusing on traditional lenders you'll often be turned down without a perfect score. If you're considering debt consolidation loans for bad credit ratings there are still options available.
What is Debt Consolidation?
Taking out a debt consolidation loan can be a good way to organize your debts and get on top of everything. It's all too easy to let things get out of hand if you have a number of debt repayments coming out of your account on different dates. With a consolidation loan, you're left with one monthly payment, which makes it much easier for you to budget and plan ahead.
A debt consolidation loan can cover a range of unsecured personal debts, including credit cards, store cards and personal loans. Instead of requiring an excellent credit rating or a guarantor, consolidation loans are secured on your property. You can even be accepted if you're in negative equity. It's important that you keep up the repayments, otherwise your house might be at risk of repossession.
How Can a Consolidation Loan Help Me?
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