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Debt Consolidation Risks Applying and obtaining a debt consolidation loan has risky undertones. This section covers the main questions that will clear the air on debt consolidation. Getting a loan consolidation with a bad credit score is not easy to come by. Consolidation loans that will allow you to consolidate the entirety of your credit card balance will lower your credit utilization and raise your credit score. The only downside is that credit card balance will be reduced.

How to qualify for a debt consolidation loan with bad credit You have to prove your creditworthiness by tendering your credit report. Unfortunately, for those who have made mistakes with their lending histories, their credit score may come back to haunt them often. Debt relief programs allow you to pay off loans in real-time. The terms of their loans go from months.

Your credit card is still functional even after getting consolidation loans. Credit Unions are more flexible and are places you can access loans with bad credit score.

This section covers some common questions about debt consolidation companies. This can put you in a position where you are able to get better interest rates and access to consolidation loans that are easier to attain.

You can use traditional refinance companies, but there are also many student specific consolidation companies that accept lower credit scores. You may feel that your credit score is too low to be able to refinance with, but often people can improve their scores quickly in just a few simple steps.

You can use traditional refinance

In terms of refinancing, your credit score will dictate how easy accessing credit will be. Private loans are loans that are issued by an individual or an investor. This is especially true for those who have multiple financial products with a single lender.