Consolidating loans with bad credit
Many people looking for debt consolidation loans with bad credit profiles contact their bank or credit union first.
And while it makes sense to do business with an institution that you already know and trust, you may be disappointed if you get turned down for a loan.
“Zopa is the pioneer of peer-to-peer lending, which uses the internet to cut out the banks entirely.
It matches savers with individuals who want to borrow, leaving out the bank and offering better rates all round.” Enter the details for any credit cards, overdrafts or loans you want to consolidate. If you're planning to consolidate a few things, start with the highest APRs first.
In recent years, peer-to-peer (P2P) lending opportunities have increased the options for people looking for a debt consolidation loan with bad credit.
Whom do I contact if I have questions about consolidation?
There is no cap on the interest rate of a Direct Consolidation Loan.
However, P2P lenders are still wary of borrowers with poor credit scores and adjust their interest rates accordingly.
While P2P loans have made it easier than ever to get a debt consolidation loan with bad credit, consolidating your debt without a loan may still be a better alternative for you.
Search for consolidating loans with bad credit:
A debt consolidation loan could help you get debt-free faster, save hundreds of pounds on interest, and take control with one simple monthly repayment.