If you have bad credit, why are you looking for another loan? Bad credit consolidation loans are not the answer. In the current economy, people with high credit scores are having a hard time getting loans. Any loan that you would manage to get with bad credit would most likely have an interest rate that would be by the roof.
But just because your credit is not perfect does not average that you cannot consolidate your debts and begin working towards debt freedom. You just will not be doing it with a loan. Debt Settlement and credit counseling are both options that do not require good credit and they are not loans.
Credit counseling involves a debt management program that consolidates all of your unsecured debts onto one account. You make one payment per month to the credit counseling organization and they disburse it to all of your lenders. Your lenders work with your credit counseling organization to reduce your interest rates and eliminate your fees. They do require a 2% payment each month and may possibly take 1.75% as a hardship.
With the interest rate reduction and the 2% payment, you will be out of debt in about 5 years. And the best part is your credit will not be ruined. If your credit counseling company cannot enroll you in one of their plans, they do make referrals to reliable individuals or organizations that can help you. They already have resources that can help with mortgage problems.
If you are in a situation where you just don’t know where to turn, fill out the online form and you will be contacted by a credit counselor. They will be happy to answer your questions without obligating you to anything.