What if you have bad credit history?

Again, not a problem. There are many lenders out there willing to offer a ‘Bad Credit Debt Consolidation Loan’ to people with bad credit. Bad credit debt consolidation loans are available to all types of tenants and homeowners alike. They are even available to people with CCJ’s and defaults. The one criteria that most lenders share is that you need to be over 18 and in employment.

Before applying for a debit consolidation loan, it’s worth bearing in mind that there can be other costs involved, such as arrangement fees and redemption penalties on your existing credit arrangements. You need to investigate this before you sign on the dotted line. There are companies that specify ‘no added fees’, but sometimes their interest rates are much higher, so it’s not always the best option.

The best way of finding a lender is to shop around. There are many comparison sites on the internet, and you are under no obligation by ‘looking’. Word of mouth is even better. Recommendation comes through personal experience which really is hard to beat!