Shopping for a bad credit debt consolidation loan is frustrating, and can even be dangerous. It is easy to get frustrated when one lender after another turns you down. If you speak with traditional lenders, such as banks or credit unions, you will find out that you need good credit to get an unsecured personal loan and excellent credit to get a low-interest personal loan excellent credit. You will find out the same thing if you speak peer-to-peer lenders or online lenders that service the prime customer.
Protect Yourself and Don't Get Scammed
Don't get scammed! If you are desperate for a loan and are getting turned down repeatedly, you may be lured by an ad you see that says "Bad Credit Debt Consolidation Loans. No one is turned down." There is no such thing as a lender who makes loans to everyone. No one is a more natural victim to scam than someone who needs something desperately. The most common scam is charging a fee for your application. Never pay a fee in advance for a loan. It will be taken, and you won't get the loan.