Use our UK Finance guide and learn by experience. We outline pitfalls so that you don't have to learn the hard way, as many of us often do.
Loans
Unsecured Bad Credit Debt Consolidation
Is it possible to find an unsecured bad credit debt consolidation loan? The answer is yes. But it's not all roses. Lenders aren't prepared to loan high amounts when it comes to unsecured loans ordinarily, and if you have an adverse credit record, they won't be too keen to deal with you at all.
You see, in this situation, there's no security and as such, if your lender is prepared to grant you credit, it won't be very much and the interest rate will be considerably higher than that of a secured bad credit debt consolidation loan. Bad credit comes in varying degrees. If you have been blacklisted because of a few late payments, an unsecured bad credit debt consolidation loan provider may not view the situation as being too risky to become involved with. However, should you have an extremely poor record of non-payment, the chances are that you will struggle to find an institution prepared to grant you an unsecured bad credit debt consolidation loan.
Continue Reading Related Articles
