Internet's first get-out-of-debt community - 168,000 members

Posted: Sat May 12, 2007 3:58 pm Subject: Loans with bad credit

Is there any way for a person that has bad credit already,to get a debt consolidation loan?

Posted: Sat May 12, 2007 4:09 pm Subject:

Financial companies look into the credit scores before offering any loans to the borrowers. debt consolidation companies don't look much into the credit scores before approving the loans, because they deal with such people only who have bad credit.

They will ask for some collateral of that amount before granting the loan. In case you default, you are under the risk of losing your property. Better option is to go for a debt management program. Here, you donâ€™t need to put any collateral. You pay monthly payments to the dmp company and they pay all your creditors. See the options offered in this program.