Make sure you read lender reviews and choose a reputable lender.Also, keep in mind that a lower credit score might result in higher interest rates.Lenders such as Citizens Bank and Earnest allow cosigners for their personal loans.See if a partner or family member who has good credit is willing to cosign the loan and you’ll have a better chance of approval on debt consolidation loans for bad credit.Expect to accept some tradeoffs, such as limited options in lenders and loan types, and higher interest rates or loan fees.A bad credit score will make it trickier to qualify for a loan, but it’s still possible to get debt consolidation loans for bad credit.
To get a cosigner on a debt consolidation loan for bad credit, you’ll need two things: a willing cosigner and a lender who allows co-applicants.
Please do your homework and let us know if you have any questions or concerns. This helps pay for our amazing staff of writers (many of which are paying back student loans of their own! You have a mound of debt and you’re not sure how to repay it.
You’ve considered taking out a personal loan to consolidate the debt, but it’s hard to find debt consolidation loans for bad credit.
Federal student loan consolidation could help, as well as income-driven repayment plans.
If you have a low credit score, don’t automatically assume you can’t get a loan.