A debt consolidation loan is a new loan that you take out to cover the balance of your other loans.
To get a debt consolidation loan, you must be 18 years or older and a legal U.S. resident. You must also have a bank account and not be in bankruptcy or foreclosure. These are the basics of qualifying for a debt consolidation loan.
If you have poor credit and need a personal loan, you may want to check out these providers. They will offer high-interest loans to people with poor credit.
Get The Look
If you’re in a pinch and need to consolidate your loans to make them more manageable, then your best option may be to get a personal loan or a debt consolidation loan.
Having poor credit does not mean that you can’t get a debt consolidation loan. However, it might be more difficult for you to get a loan right away or to get one at a favorable rate.